RadNet (NASDAQ:RDNT) Raised to Sell at StockNews.com

RadNet (NASDAQ:RDNT) was upgraded by stock analysts at StockNews.com to a “sell” rating in a note issued to investors on Wednesday.

RDNT has been the topic of a number of other reports. Raymond James upgraded RadNet from an “outperform” rating to a “strong-buy” rating and lowered their target price for the stock from $85.00 to $65.00 in a research note on Wednesday, March 5th. Barclays lowered their target price on RadNet from $85.00 to $74.00 and set an “overweight” rating on the stock in a research note on Wednesday, January 22nd. Truist Financial reiterated a “buy” rating and set a $88.00 target price (down from $94.00) on shares of RadNet in a research note on Wednesday, January 22nd. Finally, Jefferies Financial Group lowered their target price on RadNet from $100.00 to $80.00 and set a “buy” rating on the stock in a research note on Wednesday, January 15th. One equities research analyst has rated the stock with a sell rating, three have given a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average target price of $76.75.

RadNet Price Performance

RDNT opened at $49.71 on Wednesday. The company has a debt-to-equity ratio of 0.89, a current ratio of 2.16 and a quick ratio of 2.16. The company has a market capitalization of $3.68 billion, a price-to-earnings ratio of -710.04 and a beta of 1.85. The firm’s fifty day moving average price is $59.17 and its two-hundred day moving average price is $67.57. RadNet has a 1 year low of $45.82 and a 1 year high of $93.65.

RadNet (NASDAQ:RDNT) last posted its quarterly earnings data on Thursday, February 27th. The medical research company reported $0.22 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.21 by $0.01. The firm had revenue of $477.10 million for the quarter, compared to the consensus estimate of $459.42 million. RadNet had a negative net margin of 0.25% and a positive return on equity of 4.29%. As a group, analysts anticipate that RadNet will post 0.56 earnings per share for the current fiscal year.

Insider Activity at RadNet

In other news, COO Norman R. Hames sold 5,000 shares of the company’s stock in a transaction dated Wednesday, March 19th. The stock was sold at an average price of $50.22, for a total transaction of $251,100.00. Following the sale, the chief operating officer now directly owns 251,959 shares in the company, valued at $12,653,380.98. This represents a 1.95 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CEO Cornelis Wesdorp sold 1,000 shares of the company’s stock in a transaction dated Friday, March 7th. The shares were sold at an average price of $50.52, for a total value of $50,520.00. Following the sale, the chief executive officer now owns 55,995 shares in the company, valued at approximately $2,828,867.40. This represents a 1.75 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 38,000 shares of company stock worth $1,926,730. Company insiders own 5.12% of the company’s stock.

Institutional Investors Weigh In On RadNet

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Virtue Capital Management LLC grew its holdings in shares of RadNet by 6.4% during the fourth quarter. Virtue Capital Management LLC now owns 20,628 shares of the medical research company’s stock worth $1,441,000 after purchasing an additional 1,239 shares in the last quarter. Squarepoint Ops LLC purchased a new position in shares of RadNet during the fourth quarter worth about $3,407,000. Twinbeech Capital LP purchased a new position in shares of RadNet during the fourth quarter worth about $1,420,000. Two Sigma Advisers LP grew its holdings in shares of RadNet by 217.1% during the fourth quarter. Two Sigma Advisers LP now owns 24,100 shares of the medical research company’s stock worth $1,683,000 after purchasing an additional 16,500 shares in the last quarter. Finally, Two Sigma Investments LP grew its holdings in shares of RadNet by 46.0% during the fourth quarter. Two Sigma Investments LP now owns 81,065 shares of the medical research company’s stock worth $5,662,000 after purchasing an additional 25,529 shares in the last quarter. 77.90% of the stock is currently owned by 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.