RadNet (NASDAQ:RDNT) Upgraded by Barclays to Overweight

Barclays upgraded shares of RadNet (NASDAQ:RDNT) from an equal weight rating to an overweight rating in a research report report published on Friday, MarketBeat Ratings reports. Barclays currently has $79.00 price target on the medical research company’s stock, up from their previous price target of $57.00.

Several other equities analysts also recently weighed in on RDNT. StockNews.com downgraded RadNet from a hold rating to a sell rating in a research report on Wednesday, May 15th. Jefferies Financial Group upped their target price on shares of RadNet from $61.00 to $75.00 and gave the stock a buy rating in a research note on Thursday, July 11th. Raymond James upped their target price on shares of RadNet from $50.00 to $60.00 and gave the stock an outperform rating in a research note on Friday, May 10th. Finally, Truist Financial upped their target price on shares of RadNet from $63.00 to $70.00 and gave the stock a buy rating in a research note on Monday, July 15th. One equities research analyst has rated the stock with a sell rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of Moderate Buy and a consensus target price of $71.00.

RadNet Stock Performance

Shares of RDNT stock opened at $62.41 on Friday. The company has a debt-to-equity ratio of 0.92, a quick ratio of 2.12 and a current ratio of 2.12. The firm has a market cap of $4.61 billion, a P/E ratio of 209.80 and a beta of 1.75. The firm’s 50 day moving average price is $61.60 and its 200-day moving average price is $54.75. RadNet has a one year low of $25.11 and a one year high of $67.93.

RadNet (NASDAQ:RDNT) last released its quarterly earnings results on Wednesday, August 7th. The medical research company reported $0.16 EPS for the quarter, missing analysts’ consensus estimates of $0.17 by ($0.01). RadNet had a return on equity of 4.30% and a net margin of 0.58%. The firm had revenue of $459.70 million for the quarter, compared to analyst estimates of $438.53 million. During the same quarter last year, the company earned $0.24 earnings per share. The firm’s revenue for the quarter was up 13.9% on a year-over-year basis. As a group, equities research analysts predict that RadNet will post 0.58 EPS for the current year.

Insider Buying and Selling

In related news, Director Christine Nayoma Gordon sold 1,500 shares of the company’s stock in a transaction that occurred on Monday, June 10th. The shares were sold at an average price of $61.03, for a total transaction of $91,545.00. Following the sale, the director now directly owns 10,879 shares of the company’s stock, valued at approximately $663,945.37. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other RadNet news, Director Christine Nayoma Gordon sold 1,500 shares of the stock in a transaction that occurred on Monday, June 10th. The shares were sold at an average price of $61.03, for a total value of $91,545.00. Following the sale, the director now directly owns 10,879 shares of the company’s stock, valued at approximately $663,945.37. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CFO Mark Stolper sold 25,000 shares of the stock in a transaction that occurred on Monday, June 10th. 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 in the company, valued at $4,925,985.46. The disclosure for this sale can be found here. Insiders have sold a total of 95,330 shares of company stock valued at $5,874,652 in the last ninety days. Company insiders own 5.12% of the company’s stock.

Institutional Investors Weigh In On RadNet

Large investors have recently modified their holdings of the company. Nisa Investment Advisors LLC boosted its holdings in shares of RadNet by 774.2% in the 2nd quarter. Nisa Investment Advisors LLC now owns 848 shares of the medical research company’s stock valued at $50,000 after buying an additional 751 shares in the last quarter. GAMMA Investing LLC boosted its holdings in shares of RadNet by 74.7% in the 2nd quarter. GAMMA Investing LLC now owns 865 shares of the medical research company’s stock valued at $51,000 after buying an additional 370 shares in the last quarter. Assetmark Inc. boosted its holdings in shares of RadNet by 35.2% in the 4th quarter. Assetmark Inc. now owns 3,183 shares of the medical research company’s stock valued at $111,000 after buying an additional 829 shares in the last quarter. Profund Advisors LLC acquired a new position in shares of RadNet in the 2nd quarter valued at $207,000. Finally, SG Americas Securities LLC boosted its holdings in shares of RadNet by 8.7% in the 1st quarter. SG Americas Securities LLC now owns 3,637 shares of the medical research company’s stock valued at $177,000 after buying an additional 291 shares in the last quarter. 77.90% of the stock is owned by hedge funds and other institutional investors.

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.