RadNet (NASDAQ:RDNT) Price Target Raised to $95.00

RadNet (NASDAQ:RDNT) had its target price increased by KeyCorp from $92.00 to $95.00 in a research report released on Tuesday morning, MarketBeat reports. The brokerage currently has an overweight rating on the medical research company’s stock.

Several other research analysts have also weighed in on RDNT. Weiss Ratings reiterated a “sell (d-)” rating on shares of RadNet in a research note on Wednesday, November 4th. Zacks Research raised shares of RadNet from a “hold” rating to a “strong-buy” rating in a research note on Friday, October 9th. Barclays boosted their price target on shares of RadNet from $65.00 to $79.00 and gave the company an “overweight” rating in a report on Friday, August 28th. Raymond James Financial reaffirmed a “strong-buy” rating on shares of RadNet in a research note on Tuesday, September 22nd. Finally, Jefferies Financial Group reaffirmed a “buy” rating on shares of RadNet in a research report on Friday, July 31st. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $90.43.

RadNet Trading Down 2.6%

Shares of NASDAQ RDNT opened at $76.04 on Tuesday. The company has a current ratio of 1.49, a quick ratio of 1.48 and a debt-to-equity ratio of 0.90. RadNet has a one year low of $50.82 and a one year high of $85.84. The business has a 50-day moving average price of $72.74 and a two-hundred day moving average price of $65.49. The firm has a market capitalization of $5.99 billion, a PE ratio of 144.59 and a beta of 1.42.

RadNet (NASDAQ:RDNT) last issued its earnings results on Sunday, November 8th. The medical research company reported $0.30 earnings per share for the quarter, beating analysts’ consensus estimates of $0.22 by $0.08. The company had revenue of $638.26 million for the quarter, compared to the consensus estimate of $639.97 million. RadNet had a positive return on equity of 3.14% and a negative net margin of 0.94%. The firm’s quarterly revenue was up 22.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.20 EPS. As a group, analysts predict that RadNet will post 0.53 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other RadNet news, EVP Mital Patel sold 44,661 shares of the stock in a transaction on Wednesday, November 11th. The shares were sold at an average price of $78.51, for a total value of $3,506,335.11. Following the completion of the sale, the executive vice president directly owned 155,514 shares of the company’s stock, valued at $12,209,404.14. This represents a 22.31% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 5.14% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On RadNet

Several large investors have recently added to or reduced their stakes in the company. Global Retirement Partners LLC raised its stake in shares of RadNet by 285.2% in the 3rd quarter. Global Retirement Partners LLC now owns 470 shares of the medical research company’s stock valued at $32,000 after buying an additional 348 shares in the last quarter. Farther Finance Advisors LLC boosted its position in shares of RadNet by 60.2% during the 3rd quarter. Farther Finance Advisors LLC now owns 596 shares of the medical research company’s stock valued at $41,000 after acquiring an additional 224 shares in the last quarter. Hantz Financial Services Inc. boosted its position in shares of RadNet by 18.8% during the 3rd quarter. Hantz Financial Services Inc. now owns 872 shares of the medical research company’s stock valued at $60,000 after acquiring an additional 138 shares in the last quarter. Parallel Advisors LLC increased its stake in RadNet by 80.0% in the first quarter. Parallel Advisors LLC now owns 1,114 shares of the medical research company’s stock valued at $62,000 after acquiring an additional 495 shares during the period. Finally, Nykredit A S bought a new position in RadNet during the second quarter worth about $153,000. Institutional investors and hedge funds own 77.90% of the company’s stock.

About RadNet

RadNet, Inc. operates outpatient diagnostic imaging centers in the United States. Its centers provide services including magnetic resonance imaging (MRI), computed tomography (CT), positron emission tomography (PET), mammography, ultrasound, X-ray and nuclear medicine imaging. The company serves patients, physicians and healthcare organizations, with operations across several states, including California, Delaware, Florida, Maryland, New Jersey and New York. Its imaging centers offer diagnostic services for a range of medical needs, from routine screening to specialized examinations.