RadNet (NASDAQ:RDNT) Sets New 12-Month High at $71.92

RadNet, Inc. (NASDAQ:RDNT)’s stock price hit a new 52-week high during trading on Thursday . The company traded as high as $71.92 and last traded at $69.86, with a volume of 159634 shares traded. The stock had previously closed at $70.87.

Analyst Ratings Changes

RDNT has been the subject of a number of research analyst reports. Barclays raised shares of RadNet from an “equal weight” rating to an “overweight” rating and boosted their target price for the stock from $57.00 to $79.00 in a research note on Friday, September 6th. Jefferies Financial Group boosted their price objective on shares of RadNet from $75.00 to $80.00 and gave the stock a “buy” rating in a research report on Thursday, September 19th. Finally, Truist Financial upped their price objective on RadNet from $70.00 to $80.00 and gave the stock a “buy” rating in a report on Monday. One analyst has rated the stock with a sell rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $74.75.

RadNet Trading Down 2.3 %

The company has a market capitalization of $5.12 billion, a price-to-earnings ratio of 235.37 and a beta of 1.74. The company has a debt-to-equity ratio of 0.92, a quick ratio of 2.12 and a current ratio of 2.12. The business’s 50-day simple moving average is $63.47 and its 200-day simple moving average is $57.27.

RadNet (NASDAQ:RDNT) last announced its quarterly earnings data on Wednesday, August 7th. The medical research company reported $0.16 earnings per share for the quarter, missing the consensus estimate of $0.17 by ($0.01). RadNet had a net margin of 0.58% and a return on equity of 4.30%. The business had revenue of $459.70 million during the quarter, compared to analyst estimates of $438.53 million. During the same quarter in the prior year, the company earned $0.24 earnings per share. The company’s quarterly revenue was up 13.9% on a year-over-year basis. On average, research analysts expect that RadNet, Inc. will post 0.6 earnings per share for the current fiscal year.

Insider Buying and Selling at RadNet

In other news, EVP Michael N. Murdock sold 15,000 shares of the company’s stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $62.78, for a total value of $941,700.00. Following the completion of the sale, the executive vice president now directly owns 48,144 shares of the company’s stock, valued at approximately $3,022,480.32. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 5.12% of the company’s stock.

Institutional Inflows and Outflows

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

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.