Zacks Investment Research upgraded shares of RadNet (NASDAQ:RDNT) from a hold rating to a buy rating in a research report report published on Wednesday. The brokerage currently has $15.00 price objective on the medical research company’s stock.
According to Zacks, “RadNet, Inc., is a national market leader providing high-quality, cost-effective diagnostic imaging services through a network of fully-owned and operated outpatient imaging centers. RadNet offers to its patients and referring physicians the full spectrum of diagnostic imaging exams, including PET/CT, MRI, CT, Nuclear Medicine, Mammography, Ultrasound and X-ray, as well as numerous other procedures. RadNet utilizes best of breed technology to appropriately serve the medical communities in which it operates. “
RDNT has been the topic of several other reports. Raymond James Financial began coverage on RadNet in a research report on Wednesday, March 14th. They set a strong-buy rating and a $15.00 price target on the stock. BidaskClub raised RadNet from a hold rating to a buy rating in a research report on Wednesday, March 14th. Jefferies Group set a $14.00 price target on RadNet and gave the company a buy rating in a research report on Thursday, March 8th. Finally, FIX began coverage on RadNet in a research report on Wednesday, March 14th. They set a strong-buy rating and a $15.00 price target on the stock. Two equities research analysts have rated the stock with a buy rating and three have given a strong buy rating to the company. The company has an average rating of Strong Buy and an average price target of $14.75.
NASDAQ:RDNT opened at $14.40 on Wednesday. The firm has a market cap of $701.78, a P/E ratio of 41.57, a price-to-earnings-growth ratio of 3.37 and a beta of 0.39. RadNet has a 1-year low of $5.65 and a 1-year high of $14.55. The company has a current ratio of 1.23, a quick ratio of 1.23 and a debt-to-equity ratio of 8.22.
RadNet (NASDAQ:RDNT) last posted its quarterly earnings results on Thursday, March 8th. The medical research company reported $0.13 earnings per share for the quarter, missing the consensus estimate of $0.14 by ($0.01). The business had revenue of $235.50 million for the quarter, compared to analyst estimates of $228.46 million. RadNet had a net margin of 0.01% and a return on equity of 26.01%. The firm’s quarterly revenue was up 4.7% on a year-over-year basis. During the same period in the previous year, the firm posted $0.08 earnings per share. equities research analysts predict that RadNet will post 0.54 EPS for the current year.
In other RadNet news, Director Marvin S. Cadwell sold 35,594 shares of the company’s stock in a transaction dated Tuesday, March 13th. The stock was sold at an average price of $12.58, for a total value of $447,772.52. Following the transaction, the director now directly owns 266,384 shares of the company’s stock, valued at approximately $3,351,110.72. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, VP Mark Stolper sold 15,000 shares of the company’s stock in a transaction dated Tuesday, March 20th. The stock was sold at an average price of $13.19, for a total value of $197,850.00. Following the completion of the transaction, the vice president now directly owns 130,319 shares in the company, valued at $1,718,907.61. The disclosure for this sale can be found here. Insiders have sold 108,927 shares of company stock worth $1,405,852 over the last three months. 9.36% of the stock is owned by insiders.
A number of hedge funds have recently modified their holdings of the business. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp acquired a new position in RadNet in the 4th quarter worth about $598,000. Sterling Capital Management LLC acquired a new position in RadNet in the 4th quarter worth about $815,000. MetLife Investment Advisors LLC acquired a new position in RadNet in the 4th quarter worth about $213,000. Macquarie Group Ltd. increased its position in RadNet by 75.1% in the 4th quarter. Macquarie Group Ltd. now owns 69,723 shares of the medical research company’s stock worth $704,000 after purchasing an additional 29,900 shares during the last quarter. Finally, LPL Financial LLC acquired a new position in RadNet in the 4th quarter worth about $132,000. 55.82% of the stock is currently owned by institutional investors.
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RadNet Company Profile
RadNet, Inc, together with its subsidiaries, provides outpatient diagnostic imaging services in the United States. 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.
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