Brokerages Set RadNet, Inc. (NASDAQ:RDNT) PT at $90.43

RadNet, Inc. (NASDAQ:RDNT) has earned an average rating of “Moderate Buy” from the ten brokerages that are currently covering the company, MarketBeat.com reports. One equities research analyst has rated the stock with a sell recommendation, one has given a hold recommendation, six have issued a buy recommendation and two have given a strong buy recommendation to the company. The average 1-year target price among brokers that have updated their coverage on the stock in the last year is $90.4286.

Several equities research analysts have recently issued reports on RDNT shares. Weiss Ratings restated a “sell (d-)” rating on shares of RadNet in a research note on Monday, December 29th. UBS Group set a $92.00 price objective on shares of RadNet in a research note on Friday, January 9th. Truist Financial set a $90.00 price objective on shares of RadNet in a research note on Wednesday, December 17th. Jefferies Financial Group restated a “buy” rating and issued a $91.00 price objective on shares of RadNet in a research note on Tuesday, March 3rd. Finally, Raymond James Financial restated a “strong-buy” rating on shares of RadNet in a research note on Thursday, December 18th.

Insider Activity

In other news, insider Alma Gregory Sorensen sold 15,000 shares of the firm’s stock in a transaction on Wednesday, March 18th. The shares were sold at an average price of $62.15, for a total value of $932,250.00. Following the sale, the insider owned 1,208,923 shares in the company, valued at approximately $75,134,564.45. This trade represents a 1.23% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 5.60% of the company’s stock.

Institutional Investors Weigh In On RadNet

A number of institutional investors have recently bought and sold shares of the business. Corient Private Wealth LLC boosted its stake in RadNet by 50.6% during the fourth quarter. Corient Private Wealth LLC now owns 6,059 shares of the medical research company’s stock worth $432,000 after buying an additional 2,035 shares in the last quarter. Invesco Ltd. boosted its stake in RadNet by 26.4% during the fourth quarter. Invesco Ltd. now owns 1,596,780 shares of the medical research company’s stock worth $113,930,000 after buying an additional 333,911 shares in the last quarter. Fuller & Thaler Asset Management Inc. boosted its stake in RadNet by 8.9% during the fourth quarter. Fuller & Thaler Asset Management Inc. now owns 768,464 shares of the medical research company’s stock worth $54,830,000 after buying an additional 62,805 shares in the last quarter. RTW Investments LP boosted its stake in RadNet by 39.9% during the fourth quarter. RTW Investments LP now owns 3,938,500 shares of the medical research company’s stock worth $281,012,000 after buying an additional 1,122,956 shares in the last quarter. Finally, Millennium Management LLC boosted its stake in RadNet by 1,931.5% during the fourth quarter. Millennium Management LLC now owns 380,961 shares of the medical research company’s stock worth $27,182,000 after buying an additional 401,762 shares in the last quarter. Institutional investors and hedge funds own 77.90% of the company’s stock.

RadNet Trading Up 1.4%

Shares of RadNet stock opened at $56.23 on Friday. The company’s fifty day simple moving average is $63.81 and its 200-day simple moving average is $71.83. The company has a market cap of $4.36 billion, a price-to-earnings ratio of -224.92 and a beta of 1.53. The company has a current ratio of 1.76, a quick ratio of 1.76 and a debt-to-equity ratio of 0.79. RadNet has a 1 year low of $46.76 and a 1 year high of $85.84.

RadNet (NASDAQ:RDNT) last announced its quarterly earnings data on Monday, March 2nd. The medical research company reported $0.23 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.19 by $0.04. The business had revenue of $547.71 million for the quarter, compared to the consensus estimate of $515.67 million. RadNet had a negative net margin of 0.91% and a positive return on equity of 2.52%. RadNet’s quarterly revenue was up 14.8% on a year-over-year basis. During the same quarter last year, the company posted $0.22 earnings per share. As a group, sell-side analysts expect that RadNet will post 0.56 EPS for the current year.

About RadNet

RadNet, Inc is a leading independent provider of outpatient diagnostic imaging services in the United States. Through a nationwide network of fixed-site imaging centers and affiliated joint-venture locations, the company delivers a comprehensive suite of radiology services including MRI, CT, PET/CT, ultrasound, X-ray, mammography, bone densitometry, nuclear medicine and interventional radiology procedures. RadNet also offers teleradiology and imaging management solutions to physician practices, hospitals and healthcare systems.

Founded in 1981 and headquartered in Los Angeles, RadNet has expanded its footprint organically and through strategic acquisitions.