Brokerages Set RadNet, Inc. (NASDAQ:RDNT) Target Price at $87.43

RadNet, Inc. (NASDAQ:RDNT) has been assigned a consensus recommendation of “Moderate Buy” from the ten research firms that are currently covering the company, Marketbeat.com reports. Two research analysts have rated the stock with a sell recommendation, six have issued a buy recommendation and two have given a strong buy recommendation to the company. The average 12 month price target among brokers that have issued a report on the stock in the last year is $87.4286.

Several equities analysts have commented on RDNT shares. Zacks Research downgraded RadNet from a “hold” rating to a “strong sell” rating in a research report on Monday, July 13th. Weiss Ratings cut RadNet from a “sell (d)” rating to a “sell (d-)” rating in a report on Tuesday, May 12th. Finally, Barclays lowered their price objective on RadNet from $70.00 to $65.00 and set an “overweight” rating for the company in a research note on Wednesday, May 20th.

Insider Buying and Selling

In other RadNet news, Director David L. Swartz sold 2,699 shares of the company’s stock in a transaction that occurred on Thursday, June 18th. The shares were sold at an average price of $53.89, for a total value of $145,449.11. Following the completion of the transaction, the director directly owned 177,013 shares in the company, valued at approximately $9,539,230.57. This represents a 1.50% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Cornelis Wesdorp sold 4,750 shares of the firm’s stock in a transaction on Tuesday, June 16th. The shares were sold at an average price of $58.11, for a total transaction of $276,022.50. Following the transaction, the chief executive officer directly owned 69,075 shares of the company’s stock, valued at $4,013,948.25. The trade was a 6.43% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 5.60% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the stock. Nations Financial Group Inc. IA ADV bought a new position in shares of RadNet during the fourth quarter worth about $1,118,000. Campbell Newman Asset Management Inc. acquired a new position in shares of RadNet in the fourth quarter worth approximately $1,773,000. Van Berkom & Associates Inc. boosted its holdings in RadNet by 24.9% in the first quarter. Van Berkom & Associates Inc. now owns 1,028,586 shares of the medical research company’s stock valued at $57,488,000 after acquiring an additional 204,858 shares during the last quarter. Assenagon Asset Management S.A. bought a new stake in RadNet in the fourth quarter valued at approximately $756,000. Finally, Bessemer Group Inc. increased its position in RadNet by 11.4% during the 4th quarter. Bessemer Group Inc. now owns 493,999 shares of the medical research company’s stock valued at $35,248,000 after purchasing an additional 50,690 shares during the period. 77.90% of the stock is owned by institutional investors.

RadNet Price Performance

Shares of NASDAQ:RDNT opened at $61.57 on Monday. The company has a fifty day moving average of $58.66 and a 200-day moving average of $62.31. The company has a market capitalization of $4.84 billion, a PE ratio of -342.04 and a beta of 1.37. The company has a debt-to-equity ratio of 0.79, a quick ratio of 1.17 and a current ratio of 1.17. RadNet has a 52-week low of $50.76 and a 52-week high of $85.84.

RadNet (NASDAQ:RDNT) last released its quarterly earnings data on Monday, May 11th. The medical research company reported ($0.28) earnings per share for the quarter, missing the consensus estimate of ($0.14) by ($0.14). The firm had revenue of $575.63 million for the quarter, compared to analyst estimates of $557.93 million. RadNet had a negative net margin of 0.66% and a positive return on equity of 2.77%. The company’s revenue was up 22.1% compared to the same quarter last year. During the same period last year, the business earned ($0.50) EPS. On average, equities analysts predict that RadNet will post 0.54 EPS for the current fiscal year.

RadNet Company Profile

RadNet, Inc is a leading independent provider of outpatient diagnostic imaging services in the United States. Through a nationwide network of fixed-site imaging centers and affiliated joint-venture locations, the company delivers a comprehensive suite of radiology services including MRI, CT, PET/CT, ultrasound, X-ray, mammography, bone densitometry, nuclear medicine and interventional radiology procedures. RadNet also offers teleradiology and imaging management solutions to physician practices, hospitals and healthcare systems.

Founded in 1981 and headquartered in Los Angeles, RadNet has expanded its footprint organically and through strategic acquisitions.