RadNet (NASDAQ:RDNT) Upgraded at KeyCorp

RadNet (NASDAQ:RDNT) was upgraded by stock analysts at KeyCorp to a “strong-buy” rating in a research report issued on Friday,Zacks.com reports.

Several other research firms have also recently commented on RDNT. B. Riley raised their target price on RadNet from $71.00 to $87.00 and gave the company a “buy” rating in a research report on Monday, December 1st. Raymond James Financial reissued a “strong-buy” rating on shares of RadNet in a research note on Thursday, December 18th. The Goldman Sachs Group upgraded shares of RadNet to a “buy” rating in a research note on Tuesday, December 16th. Zacks Research downgraded shares of RadNet from a “strong-buy” rating to a “hold” rating in a report on Wednesday, November 12th. Finally, Barclays raised their target price on shares of RadNet from $79.00 to $86.00 and gave the company an “overweight” rating in a research note on Thursday, November 13th. Two analysts have rated the stock with a Strong Buy rating, six have given a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $88.86.

RadNet Trading Down 0.2%

Shares of NASDAQ:RDNT opened at $78.20 on Friday. The company has a quick ratio of 1.87, a current ratio of 1.87 and a debt-to-equity ratio of 0.82. The company’s 50-day moving average price is $76.83 and its 200 day moving average price is $70.78. The company has a market cap of $6.03 billion, a PE ratio of -459.97 and a beta of 1.51. RadNet has a fifty-two week low of $45.00 and a fifty-two week high of $85.84.

RadNet (NASDAQ:RDNT) last posted its earnings results on Monday, November 10th. The medical research company reported $0.20 EPS for the quarter, missing the consensus estimate of $0.23 by ($0.03). The firm had revenue of $522.87 million during the quarter, compared to the consensus estimate of $494.19 million. RadNet had a positive return on equity of 2.52% and a negative net margin of 0.65%.RadNet’s revenue for the quarter was up 13.4% on a year-over-year basis. During the same quarter last year, the company posted $0.18 EPS. Sell-side analysts anticipate that RadNet will post 0.56 earnings per share for the current year.

Insider Transactions at RadNet

In other RadNet news, CAO Mital Patel sold 25,000 shares of the business’s stock in a transaction dated Monday, November 17th. The shares were sold at an average price of $76.06, for a total value of $1,901,500.00. Following the sale, the chief accounting officer directly owned 205,138 shares in the company, valued at approximately $15,602,796.28. The trade was a 10.86% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders sold 50,000 shares of company stock worth $3,902,254 over the last quarter. 5.60% of the stock is owned by insiders.

Hedge Funds Weigh In On RadNet

Several large investors have recently made changes to their positions in the business. Allworth Financial LP raised its holdings in shares of RadNet by 346.6% in the 3rd quarter. Allworth Financial LP now owns 393 shares of the medical research company’s stock worth $30,000 after purchasing an additional 305 shares in the last quarter. Danske Bank A S acquired a new position in RadNet in the third quarter worth approximately $30,000. Farther Finance Advisors LLC grew its position in RadNet by 1,086.5% in the third quarter. Farther Finance Advisors LLC now owns 439 shares of the medical research company’s stock worth $33,000 after buying an additional 402 shares during the last quarter. Jones Financial Companies Lllp increased its holdings in shares of RadNet by 62.2% in the third quarter. Jones Financial Companies Lllp now owns 446 shares of the medical research company’s stock valued at $34,000 after buying an additional 171 shares in the last quarter. Finally, Salomon & Ludwin LLC acquired a new stake in shares of RadNet during the 3rd quarter valued at $37,000. Institutional investors own 77.90% of the company’s stock.

RadNet Company Profile

RadNet, Inc is a leading independent provider of outpatient diagnostic imaging services in the United States. Through a nationwide network of fixed-site imaging centers and affiliated joint-venture locations, the company delivers a comprehensive suite of radiology services including MRI, CT, PET/CT, ultrasound, X-ray, mammography, bone densitometry, nuclear medicine and interventional radiology procedures. RadNet also offers teleradiology and imaging management solutions to physician practices, hospitals and healthcare systems.

Founded in 1981 and headquartered in Los Angeles, RadNet has expanded its footprint organically and through strategic acquisitions.