Barclays Issues Positive Forecast for RadNet (NASDAQ:RDNT) Stock Price

RadNet (NASDAQ:RDNT) had its price objective boosted by Barclays from $79.00 to $86.00 in a research note published on Thursday morning,Benzinga reports. They currently have an overweight rating on the medical research company’s stock.

A number of other brokerages also recently issued reports on RDNT. Raymond James Financial reaffirmed a “strong-buy” rating and issued a $75.00 price target (up from $66.00) on shares of RadNet in a report on Wednesday, August 13th. Truist Financial boosted their price objective on shares of RadNet from $81.00 to $90.00 and gave the stock a “buy” rating in a research report on Wednesday. Morgan Stanley raised shares of RadNet to an “overweight” rating in a research report on Monday, August 11th. Zacks Research upgraded shares of RadNet from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, October 14th. Finally, Weiss Ratings reissued a “sell (d)” rating on shares of RadNet in a research report on Wednesday, October 8th. Three analysts have rated the stock with a Strong Buy rating, four have given a Buy rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, RadNet has an average rating of “Buy” and a consensus target price of $80.00.

RadNet Stock Down 1.3%

RadNet stock opened at $73.46 on Thursday. RadNet has a 1-year low of $45.00 and a 1-year high of $85.42. The company has a debt-to-equity ratio of 0.91, a current ratio of 2.00 and a quick ratio of 2.00. The stock has a market cap of $5.65 billion, a PE ratio of -367.28 and a beta of 1.58. The stock’s fifty day moving average is $76.52 and its two-hundred day moving average is $65.10.

RadNet (NASDAQ:RDNT) last released its quarterly earnings data on Sunday, November 9th. The medical research company reported $0.20 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.23 by ($0.03). RadNet had a positive return on equity of 2.41% and a negative net margin of 0.78%.The business had revenue of $522.87 million for the quarter, compared to analyst estimates of $494.19 million. During the same period in the prior year, the company posted $0.18 earnings per share. The company’s revenue was up 13.4% compared to the same quarter last year. On average, sell-side analysts expect that RadNet will post 0.56 EPS for the current fiscal year.

Insider Buying and Selling at RadNet

In other RadNet news, insider Ranjan Jayanathan sold 65,598 shares of RadNet stock in a transaction on Tuesday, August 19th. The shares were sold at an average price of $67.50, for a total value of $4,427,865.00. Following the transaction, the insider directly owned 138,198 shares in the company, valued at approximately $9,328,365. The trade was a 32.19% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, COO Norman R. Hames sold 10,000 shares of the company’s stock in a transaction dated Wednesday, September 10th. The shares were sold at an average price of $72.74, for a total transaction of $727,400.00. Following the completion of the sale, the chief operating officer directly owned 239,183 shares of the company’s stock, valued at $17,398,171.42. The trade was a 4.01% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 118,098 shares of company stock valued at $8,269,445. Insiders own 5.60% of the company’s stock.

Hedge Funds Weigh In On RadNet

Institutional investors have recently added to or reduced their stakes in the stock. Farther Finance Advisors LLC lifted its position in RadNet by 1,086.5% during the 3rd quarter. Farther Finance Advisors LLC now owns 439 shares of the medical research company’s stock worth $33,000 after acquiring an additional 402 shares during the period. Jones Financial Companies Lllp increased its holdings in shares of RadNet by 62.2% in the third quarter. Jones Financial Companies Lllp now owns 446 shares of the medical research company’s stock valued at $34,000 after purchasing an additional 171 shares during the period. Salomon & Ludwin LLC purchased a new stake in shares of RadNet during the third quarter worth approximately $37,000. Headlands Technologies LLC acquired a new stake in shares of RadNet during the first quarter worth $28,000. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. acquired a new stake in shares of RadNet during the second quarter worth $35,000. Institutional investors and hedge funds own 77.90% of the company’s stock.

RadNet Company Profile

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, as well as multi-modality imaging services.