RadNet (NASDAQ:RDNT) Upgraded by B. Riley to Strong-Buy Rating

RadNet (NASDAQ:RDNT) was upgraded by B. Riley to a “strong-buy” rating in a research report issued on Thursday,Zacks.com reports.

Several other research firms have also commented on RDNT. Wall Street Zen lowered shares of RadNet from a “hold” rating to a “sell” rating in a research report on Thursday, May 22nd. Raymond James raised shares of RadNet from an “outperform” rating to a “strong-buy” rating and decreased their price target for the company from $85.00 to $65.00 in a research report on Wednesday, March 5th. Truist Financial decreased their price objective on shares of RadNet from $88.00 to $74.00 and set a “buy” rating for the company in a research report on Friday, April 11th. Finally, Barclays reduced their price target on shares of RadNet from $74.00 to $60.00 and set an “overweight” rating for the company in a research report on Monday, March 24th. One analyst has rated the stock with a sell rating, three have issued a buy rating and three have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus target price of $69.60.

RadNet Trading Down 2.1%

NASDAQ RDNT opened at $55.41 on Thursday. The company’s 50-day moving average price is $54.84 and its 200-day moving average price is $60.75. The company has a current ratio of 2.16, a quick ratio of 2.16 and a debt-to-equity ratio of 0.89. The stock has a market cap of $4.16 billion, a PE ratio of -791.46 and a beta of 1.43. RadNet has a 12 month low of $45.00 and a 12 month high of $93.65.

Insider Buying and Selling

In other news, EVP Alma Gregory Sorensen sold 55,000 shares of the business’s stock in a transaction dated Friday, May 23rd. The shares were sold at an average price of $56.48, for a total transaction of $3,106,400.00. Following the transaction, the executive vice president now owns 1,160,509 shares of the company’s stock, valued at approximately $65,545,548.32. The trade was a 4.52% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, COO Norman R. Hames sold 5,000 shares of the company’s stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $49.79, for a total transaction of $248,950.00. Following the completion of the sale, the chief operating officer now directly owns 261,959 shares of the company’s stock, valued at $13,042,938.61. This represents a 1.87% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 73,447 shares of company stock valued at $4,113,270. 5.60% of the stock is owned by corporate insiders.

Institutional Trading of RadNet

Several hedge funds have recently made changes to their positions in the business. Rhumbline Advisers raised its holdings in RadNet by 1.1% in the first quarter. Rhumbline Advisers now owns 175,776 shares of the medical research company’s stock valued at $8,740,000 after acquiring an additional 1,895 shares in the last quarter. JPMorgan Chase & Co. raised its holdings in RadNet by 154.8% in the fourth quarter. JPMorgan Chase & Co. now owns 338,843 shares of the medical research company’s stock valued at $23,665,000 after acquiring an additional 205,846 shares in the last quarter. Smartleaf Asset Management LLC raised its holdings in RadNet by 377.0% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,345 shares of the medical research company’s stock valued at $96,000 after acquiring an additional 1,063 shares in the last quarter. Janus Henderson Group PLC raised its holdings in RadNet by 3.5% in the fourth quarter. Janus Henderson Group PLC now owns 31,436 shares of the medical research company’s stock valued at $2,195,000 after acquiring an additional 1,049 shares in the last quarter. Finally, Vanguard Group Inc. raised its holdings in RadNet by 1.0% in the fourth quarter. Vanguard Group Inc. now owns 7,425,218 shares of the medical research company’s stock valued at $518,577,000 after acquiring an additional 71,910 shares in the last quarter. Institutional investors and hedge funds own 77.90% of the company’s stock.

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.