Barclays Issues Pessimistic Forecast for RadNet (NASDAQ:RDNT) Stock Price

RadNet (NASDAQ:RDNT) had its price objective lowered by Barclays from $74.00 to $60.00 in a research report released on Monday,Benzinga reports. The brokerage currently has an overweight rating on the medical research company’s stock.

Several other brokerages have also recently issued reports on RDNT. Raymond James upgraded shares of RadNet from an “outperform” rating to a “strong-buy” rating and decreased their price target for the company from $85.00 to $65.00 in a research report on Wednesday, March 5th. Jefferies Financial Group decreased their price target on RadNet from $100.00 to $80.00 and set a “buy” rating for the company in a research note on Wednesday, January 15th. StockNews.com raised RadNet to a “sell” rating in a research note on Wednesday, March 19th. Finally, Truist Financial reissued a “buy” rating and set a $88.00 target price (down previously from $94.00) on shares of RadNet in a research report on Wednesday, January 22nd. One analyst has rated the stock with a sell rating, three have issued a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, RadNet has a consensus rating of “Buy” and an average price target of $73.25.

RadNet Stock Up 5.2 %

Shares of NASDAQ:RDNT opened at $51.83 on Monday. The company has a market capitalization of $3.84 billion, a PE ratio of -740.32 and a beta of 1.85. RadNet has a 52-week low of $45.82 and a 52-week high of $93.65. The company has a debt-to-equity ratio of 0.89, a quick ratio of 2.16 and a current ratio of 2.16. The company has a fifty day moving average of $58.48 and a 200-day moving average of $67.45.

RadNet (NASDAQ:RDNT) last announced its quarterly earnings results on Thursday, February 27th. The medical research company reported $0.22 EPS for the quarter, beating analysts’ consensus estimates of $0.21 by $0.01. RadNet had a positive return on equity of 4.29% and a negative net margin of 0.25%. The firm had revenue of $477.10 million for the quarter, compared to analyst estimates of $459.42 million. On average, equities analysts predict that RadNet will post 0.56 EPS for the current fiscal year.

Insider Activity

In other RadNet news, CEO Cornelis Wesdorp sold 1,000 shares of the stock in a transaction that occurred on Friday, March 7th. The stock was sold at an average price of $50.52, for a total transaction of $50,520.00. Following the transaction, the chief executive officer now directly owns 55,995 shares in the company, valued at approximately $2,828,867.40. This represents a 1.75 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, COO Norman R. Hames sold 5,000 shares of the firm’s stock in a transaction that occurred on Monday, March 17th. The stock was sold at an average price of $49.79, for a total transaction of $248,950.00. Following the sale, the chief operating officer now directly owns 261,959 shares of the company’s stock, valued at approximately $13,042,938.61. This trade represents a 1.87 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 38,000 shares of company stock valued at $1,926,730 in the last ninety days. 5.12% of the stock is owned by company insiders.

Hedge Funds Weigh In On RadNet

Several institutional investors have recently made changes to their positions in RDNT. Natixis Advisors LLC raised its stake in RadNet by 11.4% during the 3rd quarter. Natixis Advisors LLC now owns 22,530 shares of the medical research company’s stock worth $1,563,000 after buying an additional 2,305 shares during the period. Pathstone Holdings LLC raised its position in shares of RadNet by 58.5% during the third quarter. Pathstone Holdings LLC now owns 27,503 shares of the medical research company’s stock worth $1,908,000 after purchasing an additional 10,151 shares during the period. Connor Clark & Lunn Investment Management Ltd. bought a new position in shares of RadNet in the 3rd quarter worth $2,756,000. Intech Investment Management LLC grew its position in RadNet by 178.3% in the 3rd quarter. Intech Investment Management LLC now owns 21,078 shares of the medical research company’s stock valued at $1,463,000 after purchasing an additional 13,505 shares during the period. Finally, Citigroup Inc. grew its position in RadNet by 23.0% in the 3rd quarter. Citigroup Inc. now owns 174,878 shares of the medical research company’s stock valued at $12,135,000 after purchasing an additional 32,673 shares during the period. Institutional investors and hedge funds 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.