RadNet (NASDAQ:RDNT – Free Report) Barclays raised its price target from $51.00 to $57.00 in a research report published Thursday morning, Benzinga reports. The firm currently has an Equal-Weight rating on the medical research company’s stock.
Several other research firms have also recently issued reports on RDNT. Truist Financial raised their price target on shares of RadNet from $63.00 to $70.00 and gave the company a buy rating in a report on Monday, July 15. Jefferies Financial Group raised their price target on shares of RadNet from $61.00 to $75.00 and gave the stock a buy rating in a report on Thursday, July 11. Raymond James raised their price target on shares of RadNet from $50.00 to $60.00 and gave the stock an outperform rating in a report on Friday, May 10. Finally, StockNews.com downgraded shares of RadNet from a hold rating to a sell rating in a report on Wednesday, May 15. One equities analyst has rated the stock with a sell rating, one has a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, RadNet currently has a consensus rating of “Hold” and an average price target of $65.50.
Read our latest report on RDNT
RadNet shares rise by 1.9%
RDNT shares rose $1.16 on Thursday, reaching $62.83. Trading volume was 616,942 shares, compared to its average volume of 553,815 shares. The company has a market cap of $4.64 billion, a price-to-earnings ratio of 209.43 and a beta of 1.75. The stock’s 50-day moving average is $59.85 and its 200-day moving average is $51.27. The company has a debt-to-equity ratio of 0.76, a quick ratio of 1.86 and a current ratio of 1.86. RadNet has a 52-week low of $25.11 and a 52-week high of $66.04.
RadNet (NASDAQ:RDNT – Free Report) last announced its earnings results on Wednesday, August 7. The medical research company reported $0.16 earnings per share for the quarter, missing the consensus estimate of $0.17 by ($0.01). The company had revenue of $459.70 million for the quarter, compared to analyst expectations of $438.53 million. RadNet had a net margin of 1.28% and a return on equity of 5.05%. RadNet’s revenue for the quarter increased 13.9% compared to the year-ago quarter. In the year-ago quarter, the company posted earnings per share of $0.24. As a group, research analysts expect RadNet to post earnings per share of $0.58 for the current year.
Insider buying and selling
In related news, CFO Mark Stolper sold 25,000 shares of the company’s stock in a transaction that occurred on Monday, June 10. The shares were sold at an average price of $61.27, for a total value of $1,531,750.00. Following the sale, the chief financial officer now owns 80,398 shares of the company’s stock, valued at approximately $4,925,985.46. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In related news, COO Norman R. Hames sold 18,597 shares of the company’s stock in a transaction that occurred on Wednesday, June 12. The shares were sold at an average price of $63.08, for a total value of $1,173,098.76. Following the sale, the Chief Operating Officer now owns 227,322 shares of the company’s stock, valued at approximately $14,339,471.76. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CFO Mark Stolper sold 25,000 shares of the company’s stock in a transaction dated Monday, June 10. The shares were sold at an average price of $61.27, for a total transaction of $1,531,750.00. Following the completion of the sale, the Chief Financial Officer now directly owns 80,398 shares of the company’s stock, valued at approximately $4,925,985.46. The disclosure regarding this sale can be found here. Insiders have sold a total of 99,730 shares of the company’s stock during the last quarter, valued at $6,121,516. Company insiders own 5.12% of the company’s stock.
Hedge funds comment on RadNet
A number of institutional investors and hedge funds have recently bought and sold shares of the company. SG Americas Securities LLC increased its position in RadNet by 8.7% in the 1st quarter. SG Americas Securities LLC now owns 3,637 shares of the medical research company’s stock worth $177,000 after buying an additional 291 shares in the last quarter. Hanseatic Management Services Inc. increased its position in RadNet by 1.8% in the 2nd quarter. Hanseatic Management Services Inc. now owns 19,968 shares of the medical research company’s stock worth $1,177,000 after buying an additional 353 shares in the last quarter. GAMMA Investing LLC increased its position in RadNet by 74.7% in the 2nd quarter. GAMMA Investing LLC now owns 865 shares of the medical research company’s stock worth $51,000 after buying an additional 370 shares in the last quarter. Natixis Advisors LP grew its position in RadNet by 5.6% in the 4th quarter. Natixis Advisors LP now owns 11,789 shares of the medical research company’s stock worth $409,000 after purchasing an additional 627 shares in the last quarter. Finally, Mutual of America Capital Management LLC grew its position in RadNet by 6.2% in the 1st quarter. Mutual of America Capital Management LLC now owns 11,232 shares of the medical research company’s stock worth $547,000 after purchasing an additional 656 shares in the last quarter. Institutional investors own 77.90% of the company’s stock.
RadNet Company Profile
(Get free report)
RadNet, Inc., together with its subsidiaries, provides outpatient diagnostic imaging services in the United States. The company operates in two segments: Imaging Centers and Artificial Intelligence. Its services include magnetic resonance imaging, computed tomography, positron emission tomography, nuclear medicine, mammography, ultrasound, diagnostic radiology, fluoroscopy and other related procedures, and multimodal imaging services.
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