RadNet (NASDAQ:RDNT) Hits New 1-Year High – Still a Buy?

Shares of RadNet, Inc. (NASDAQ:RDNT) reached a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $72.12 and last traded at $71.84, with a volume of 238074 shares changing hands. The stock had previously closed at $70.62.

Analyst Ratings Changes

A number of brokerages have commented on RDNT. Truist Financial upped their price target on shares of RadNet from $70.00 to $80.00 and gave the company a “buy” rating in a research report on Monday, September 23rd. Jefferies Financial Group raised their target price on RadNet from $75.00 to $80.00 and gave the stock a “buy” rating in a research note on Thursday, September 19th. Sidoti raised RadNet to a “strong-buy” rating in a research note on Friday, October 4th. Finally, 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 report on Friday, September 6th. One equities research analyst has rated the stock with a sell rating, four have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $74.75.

RadNet Trading Down 2.9 %

The business has a 50 day moving average of $65.96 and a two-hundred day moving average of $59.56. The firm has a market capitalization of $5.05 billion, a price-to-earnings ratio of 227.87 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.

RadNet (NASDAQ:RDNT) last issued its earnings results on Wednesday, August 7th. The medical research company reported $0.16 earnings per share for the quarter, missing analysts’ consensus estimates of $0.17 by ($0.01). RadNet had a return on equity of 4.30% and a net margin of 0.58%. The firm had revenue of $459.70 million for the quarter, compared to analyst estimates of $438.53 million. During the same period in the previous year, the company earned $0.24 earnings per share. RadNet’s revenue for the quarter was up 13.9% compared to the same quarter last year. Equities analysts predict that RadNet, Inc. will post 0.6 EPS for the current year.

Insider Buying and Selling at RadNet

In other news, EVP Michael N. Murdock sold 15,000 shares of the stock in a transaction that occurred on 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 $3,022,480.32. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 5.12% of the company’s stock.

Institutional Trading of RadNet

Several institutional investors have recently made changes to their positions in RDNT. 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 worth $50,000 after purchasing an additional 751 shares in the last quarter. GAMMA Investing LLC boosted its stake 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 worth $51,000 after buying an additional 370 shares during the last quarter. SG Americas Securities LLC grew its holdings in shares of RadNet by 8.7% in the first quarter. SG Americas Securities LLC now owns 3,637 shares of the medical research company’s stock valued at $177,000 after acquiring an additional 291 shares in the last quarter. MQS Management LLC purchased a new stake in shares of RadNet during the first quarter valued at approximately $207,000. Finally, Profund Advisors LLC bought a new stake in RadNet during the second quarter worth $207,000. Institutional investors 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.