RadNet (NASDAQ:RDNT) Reaches New 1-Year High at $70.37

RadNet, Inc. (NASDAQ:RDNT) reached a new 52-week high on Thursday . The company traded as high as $70.37 and last traded at $69.63, with a volume of 46661 shares trading hands. The stock had previously closed at $67.11.

Analyst Ratings Changes

A number of analysts have recently commented on the company. Truist Financial upped their target price on RadNet from $63.00 to $70.00 and gave the stock a “buy” rating in a research note on Monday, July 15th. Barclays raised shares of RadNet from an “equal weight” rating to an “overweight” rating and raised their price objective for the stock from $57.00 to $79.00 in a research note on Friday, September 6th. Finally, Jefferies Financial Group boosted their target price on shares of RadNet from $61.00 to $75.00 and gave the company a “buy” rating in a research note on Thursday, July 11th. One equities research analyst has rated the stock with a sell rating and four have issued a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $71.00.

RadNet Stock Up 3.6 %

The company has a quick ratio of 2.12, a current ratio of 2.12 and a debt-to-equity ratio of 0.92. The company has a market cap of $5.14 billion, a PE ratio of 231.73 and a beta of 1.74. The business has a 50-day simple moving average of $62.68 and a 200-day simple moving average of $56.48.

RadNet (NASDAQ:RDNT) last issued its earnings results on Wednesday, August 7th. The medical research company reported $0.16 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.17 by ($0.01). The company had revenue of $459.70 million during the quarter, compared to analysts’ expectations of $438.53 million. RadNet had a net margin of 0.58% and a return on equity of 4.30%. The firm’s quarterly revenue was up 13.9% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.24 earnings per share. Equities research analysts anticipate that RadNet, Inc. will post 0.58 EPS for the current year.

Insiders Place Their Bets

In other news, EVP Michael N. Murdock sold 15,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $62.78, for a total transaction of $941,700.00. Following the completion of the sale, the executive vice president now owns 48,144 shares in the company, valued at approximately $3,022,480.32. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 5.12% of the stock is owned by insiders.

Institutional Investors Weigh In On RadNet

A number of institutional investors have recently modified their holdings of the company. Nisa Investment Advisors LLC grew its position in RadNet by 774.2% in the 2nd quarter. Nisa Investment Advisors LLC now owns 848 shares of the medical research company’s stock valued at $50,000 after acquiring an additional 751 shares in the last quarter. GAMMA Investing LLC grew its holdings in shares of RadNet by 74.7% in the second quarter. GAMMA Investing LLC now owns 865 shares of the medical research company’s stock valued at $51,000 after purchasing an additional 370 shares in the last quarter. Assetmark Inc. increased its stake in RadNet by 35.2% during the 4th quarter. Assetmark Inc. now owns 3,183 shares of the medical research company’s stock worth $111,000 after buying an additional 829 shares during the period. SG Americas Securities LLC lifted its holdings in RadNet by 8.7% during the 1st quarter. SG Americas Securities LLC now owns 3,637 shares of the medical research company’s stock worth $177,000 after buying an additional 291 shares in the last quarter. Finally, MQS Management LLC purchased a new position in RadNet in the 1st quarter valued at approximately $207,000. 77.90% of the stock is owned by institutional investors and hedge funds.

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.