RadNet, Inc. (NASDAQ:RDNT) Receives Consensus Recommendation of “Moderate Buy” from Analysts

RadNet, Inc. (NASDAQ:RDNT) has been given a consensus rating of “Moderate Buy” by the nine research firms that are currently covering the company, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, one has issued a hold recommendation, five have issued a buy recommendation and two have given a strong buy recommendation to the company. The average 1 year target price among brokerages that have updated their coverage on the stock in the last year is $90.3333.

A number of research analysts recently weighed in on RDNT shares. Weiss Ratings restated a “sell (d-)” rating on shares of RadNet in a report on Monday, December 29th. KeyCorp upgraded shares of RadNet to a “strong-buy” rating in a research note on Friday, January 9th. The Goldman Sachs Group raised RadNet to a “buy” rating in a report on Tuesday, December 16th. Raymond James Financial reaffirmed a “strong-buy” rating on shares of RadNet in a report on Thursday, December 18th. Finally, UBS Group set a $92.00 price target on RadNet in a research report on Friday, January 9th.

Insider Activity

In related news, CAO Mital Patel sold 25,000 shares of the stock in a transaction dated Monday, November 17th. The shares were sold at an average price of $76.06, for a total transaction of $1,901,500.00. Following the completion of the transaction, the chief accounting officer directly owned 205,138 shares of the company’s stock, valued at $15,602,796.28. This represents a 10.86% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. Insiders have sold 50,000 shares of company stock worth $3,902,254 in the last quarter. Insiders own 5.60% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the business. Polar Capital Holdings Plc purchased a new position in RadNet in the third quarter valued at about $63,423,000. Van Berkom & Associates Inc. raised its holdings in RadNet by 14,163.6% in the 3rd quarter. Van Berkom & Associates Inc. now owns 823,582 shares of the medical research company’s stock valued at $62,765,000 after acquiring an additional 817,808 shares during the last quarter. Ameriprise Financial Inc. boosted its holdings in shares of RadNet by 79.7% during the second quarter. Ameriprise Financial Inc. now owns 1,394,552 shares of the medical research company’s stock worth $79,364,000 after purchasing an additional 618,392 shares during the last quarter. Norges Bank purchased a new stake in shares of RadNet in the second quarter valued at $31,051,000. Finally, Westfield Capital Management Co. LP acquired a new position in RadNet in the third quarter valued at $40,073,000. Hedge funds and other institutional investors own 77.90% of the company’s stock.

RadNet Trading Up 0.3%

Shares of RDNT stock opened at $73.17 on Monday. The company has a debt-to-equity ratio of 0.82, a current ratio of 1.87 and a quick ratio of 1.87. The firm has a market cap of $5.65 billion, a PE ratio of -430.39 and a beta of 1.51. The company has a 50-day moving average of $75.89 and a two-hundred day moving average of $72.14. RadNet has a 1-year low of $45.00 and a 1-year high of $85.84.

RadNet (NASDAQ:RDNT) last announced its earnings results on Monday, November 10th. The medical research company reported $0.20 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.03). The firm had revenue of $522.87 million during the quarter, compared to analysts’ expectations of $494.19 million. RadNet had a negative net margin of 0.65% and a positive return on equity of 2.52%. The firm’s revenue for the quarter was up 13.4% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.18 EPS. On average, analysts predict 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.