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

RadNet (NASDAQ:RDNT) was upgraded by equities researchers at StockNews.com to a “sell” rating in a research report issued on Wednesday.

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

RadNet Stock Performance

NASDAQ:RDNT opened at $49.71 on Wednesday. The firm has a market cap of $3.68 billion, a PE ratio of -710.04 and a beta of 1.85. RadNet has a fifty-two week low of $45.82 and a fifty-two week high of $93.65. The company has a debt-to-equity ratio of 0.89, a quick ratio of 2.16 and a current ratio of 2.16. The business has a 50 day moving average price of $59.17 and a 200-day moving average price of $67.57.

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

Insider Activity at RadNet

In other RadNet news, CEO Cornelis Wesdorp sold 2,000 shares of the firm’s stock in a transaction dated Wednesday, March 5th. The stock was sold at an average price of $52.58, for a total value of $105,160.00. Following the transaction, the chief executive officer now directly owns 58,995 shares of the company’s stock, valued at approximately $3,101,957.10. This trade represents a 3.28 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director David L. Swartz sold 25,000 shares of the firm’s stock in a transaction dated Friday, March 7th. The stock was sold at an average price of $50.84, for a total value of $1,271,000.00. Following the completion of the transaction, the director now directly owns 174,067 shares in the company, valued at $8,849,566.28. The trade was a 12.56 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 38,000 shares of company stock valued at $1,926,730 over the last ninety days. Insiders own 5.12% of the company’s stock.

Institutional Inflows and Outflows

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

About RadNet

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.