Analysts Set RadNet, Inc. (NASDAQ:RDNT) Target Price at $87.60

by · The Cerbat Gem

Shares of RadNet, Inc. (NASDAQ:RDNT – Get Free Report) have earned a consensus rating of “Moderate Buy” from the eight ratings firms that are currently covering the firm, Marketbeat reports. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. The average 12-month price target among brokers that have updated their coverage on the stock in the last year is $87.60.

A number of equities research analysts have issued reports on RDNT shares. Zacks Research downgraded RadNet from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, November 12th. Raymond James Financial restated a “strong-buy” rating and set a $95.00 target price on shares of RadNet in a research note on Friday, November 14th. B. Riley raised their target price on RadNet from $71.00 to $87.00 and gave the company a “buy” rating in a report on Monday, December 1st. Weiss Ratings reiterated a “sell (d-)” rating on shares of RadNet in a report on Monday, December 1st. Finally, Wall Street Zen raised RadNet from a “sell” rating to a “hold” rating in a research report on Saturday, August 16th.

Check Out Our Latest Report on RadNet

Insider Activity at RadNet

In other news, CEO Cornelis Wesdorp sold 500 shares of the business’s stock in a transaction dated Thursday, September 11th. The shares were sold at an average price of $72.13, for a total transaction of $36,065.00. Following the transaction, the chief executive officer owned 53,495 shares in the company, valued at approximately $3,858,594.35. The trade was a 0.93% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Mark Stolper sold 35,000 shares of the company’s stock in a transaction dated Tuesday, September 16th. The shares were sold at an average price of $73.89, for a total transaction of $2,586,150.00. Following the transaction, the executive vice president directly owned 68,012 shares of the company’s stock, valued at $5,025,406.68. This represents a 33.98% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 85,500 shares of company stock worth $6,524,469 in the last ninety days. 5.60% of the stock is currently owned by insiders.

Hedge Funds Weigh In On RadNet

Several institutional investors and hedge funds have recently added to or reduced their stakes in RDNT. American Century Companies Inc. raised its holdings in shares of RadNet by 507.9% in the 1st quarter. American Century Companies Inc. now owns 1,272,928 shares of the medical research company’s stock worth $63,290,000 after buying an additional 1,063,516 shares in the last quarter. Polar Capital Holdings Plc bought a new stake in RadNet in the third quarter valued at $63,423,000. Van Berkom & Associates Inc. raised its stake in RadNet by 14,163.6% during the third quarter. Van Berkom & Associates Inc. now owns 823,582 shares of the medical research company’s stock worth $62,765,000 after acquiring an additional 817,808 shares in the last quarter. T. Rowe Price Investment Management Inc. raised its stake in RadNet by 81.4% during the first quarter. T. Rowe Price Investment Management Inc. now owns 1,657,613 shares of the medical research company’s stock worth $82,417,000 after acquiring an additional 743,922 shares in the last quarter. Finally, Alyeska Investment Group L.P. lifted its holdings in shares of RadNet by 141.7% during the first quarter. Alyeska Investment Group L.P. now owns 1,214,882 shares of the medical research company’s stock valued at $60,404,000 after acquiring an additional 712,270 shares during the period. 77.90% of the stock is currently owned by institutional investors.

RadNet Trading Down 0.4%

Shares of RDNT stock opened at $75.85 on Friday. RadNet has a 12 month low of $45.00 and a 12 month high of $85.84. The company has a market cap of $5.85 billion, a PE ratio of -446.15 and a beta of 1.49. The company has a quick ratio of 1.87, a current ratio of 1.87 and a debt-to-equity ratio of 0.82. The business’s 50 day moving average is $78.44 and its two-hundred day moving average is $68.23.

RadNet (NASDAQ:RDNT – Get Free Report) last posted its quarterly earnings data on Monday, November 10th. 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 2.52% and a negative net margin of 0.65%.The firm had revenue of $522.87 million for the quarter, compared to the consensus estimate of $494.19 million. During the same period in the prior year, the company posted $0.18 earnings per share. RadNet’s quarterly revenue was up 13.4% on a year-over-year basis. Equities analysts predict that RadNet will post 0.56 EPS for the current year.

RadNet Company Profile

(Get Free Report)

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.

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