Barclays Issues Pessimistic Forecast for RadNet (NASDAQ:RDNT) Stock Price

RadNet (NASDAQ:RDNT) had its target price reduced by Barclays from $74.00 to $60.00 in a research note issued to investors on Monday morning,Benzinga reports. They currently have an overweight rating on the medical research company’s stock.

A number of other brokerages have also recently issued reports on RDNT. Raymond James raised RadNet from an “outperform” rating to a “strong-buy” rating and decreased their target price for the stock from $85.00 to $65.00 in a research report on Wednesday, March 5th. Jefferies Financial Group decreased their price objective on shares of RadNet from $100.00 to $80.00 and set a “buy” rating for the company in a report on Wednesday, January 15th. Truist Financial reiterated a “buy” rating and issued a $88.00 target price (down previously from $94.00) on shares of RadNet in a report on Wednesday, January 22nd. Finally, StockNews.com upgraded shares of RadNet to a “sell” rating in a report on Wednesday, March 19th. One equities research analyst has rated the stock with a sell rating, three have issued a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Buy” and an average target price of $73.25.

RadNet Stock Up 0.0 %

RadNet stock opened at $50.72 on Monday. The company has a current ratio of 2.16, a quick ratio of 2.16 and a debt-to-equity ratio of 0.89. RadNet has a 1-year low of $45.82 and a 1-year high of $93.65. The firm’s fifty day simple moving average is $57.96 and its 200-day simple moving average is $67.25. The company has a market capitalization of $3.76 billion, a P/E ratio of -724.47 and a beta of 1.85.

RadNet (NASDAQ:RDNT) last posted its earnings results on Thursday, February 27th. The medical research company reported $0.22 earnings per share for the quarter, beating the consensus estimate of $0.21 by $0.01. The company had revenue of $477.10 million for 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%. Sell-side analysts forecast that RadNet will post 0.56 earnings per share for the current fiscal year.

Insider Transactions at RadNet

In other RadNet news, Director David L. Swartz sold 25,000 shares of the company’s stock in a transaction that occurred on 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 owns 174,067 shares of the company’s stock, valued at $8,849,566.28. This represents a 12.56 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Cornelis Wesdorp sold 1,000 shares of the firm’s stock in a transaction that occurred on Friday, March 7th. The stock was sold at an average price of $50.52, for a total value of $50,520.00. Following the completion of the sale, the chief executive officer now owns 55,995 shares of the company’s stock, valued at $2,828,867.40. This represents a 1.75 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 38,000 shares of company stock worth $1,926,730. Insiders own 5.12% of the company’s stock.

Institutional Trading of RadNet

A number of institutional investors and hedge funds have recently modified their holdings of RDNT. HighTower Advisors LLC boosted its stake in RadNet by 1.8% during the third quarter. HighTower Advisors LLC now owns 7,861 shares of the medical research company’s stock worth $545,000 after buying an additional 136 shares in the last quarter. Highland Capital Management LLC lifted its holdings in shares of RadNet by 6.5% during the 4th quarter. Highland Capital Management LLC now owns 3,307 shares of the medical research company’s stock worth $231,000 after acquiring an additional 202 shares during the period. Summit Investment Advisors Inc. boosted its position in shares of RadNet by 3.3% during the 4th quarter. Summit Investment Advisors Inc. now owns 6,917 shares of the medical research company’s stock valued at $483,000 after acquiring an additional 219 shares in the last quarter. Summit Financial LLC increased its stake in RadNet by 2.4% in the fourth quarter. Summit Financial LLC now owns 11,111 shares of the medical research company’s stock valued at $776,000 after acquiring an additional 262 shares during the period. Finally, Virtue Capital Management LLC increased its stake in RadNet by 1.4% in the third quarter. Virtue Capital Management LLC now owns 19,389 shares of the medical research company’s stock valued at $1,345,000 after acquiring an additional 264 shares during the period. 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.