RadNet (NASDAQ:RDNT) Hits New 12-Month High – Still a Buy?

RadNet, Inc. (NASDAQ:RDNT) reached a new 52-week high on Thursday . The company traded as high as $72.44 and last traded at $72.39, with a volume of 34493 shares trading hands. The stock had previously closed at $69.85.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the company. Sidoti raised RadNet to a “strong-buy” rating in a report on Friday, October 4th. Jefferies Financial Group upped their price objective on RadNet from $75.00 to $80.00 and gave the stock a “buy” rating in a research report on Thursday, September 19th. Truist Financial lifted their target price on shares of RadNet from $70.00 to $80.00 and gave the company a “buy” rating in a report on Monday, September 23rd. Finally, Barclays raised shares of RadNet from an “equal weight” rating to an “overweight” rating and increased their price target for the stock from $57.00 to $79.00 in a report on Friday, September 6th. One investment analyst has rated the stock with a sell rating, four have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $74.75.

RadNet Price Performance

The company has a quick ratio of 2.12, a current ratio of 2.12 and a debt-to-equity ratio of 0.92. The firm has a market capitalization of $5.36 billion, a PE ratio of 518.07 and a beta of 1.75. The stock has a 50-day moving average price of $67.36 and a 200 day moving average price of $61.81.

RadNet (NASDAQ:RDNT) last issued its quarterly earnings results on Wednesday, August 7th. The medical research company reported $0.16 EPS for the quarter, missing the consensus estimate of $0.17 by ($0.01). The company had revenue of $459.70 million during the quarter, compared to analysts’ expectations of $438.53 million. RadNet had a return on equity of 4.30% and a net margin of 0.58%. RadNet’s revenue was up 13.9% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.24 EPS. Equities analysts forecast that RadNet, Inc. will post 0.59 EPS for the current fiscal year.

Insider Transactions at RadNet

In other RadNet 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 transaction of $941,700.00. Following the completion of the transaction, the executive vice president now 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 legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 5.12% of the company’s stock.

Institutional Investors Weigh In On RadNet

A number of large investors have recently modified their holdings of RDNT. UniSuper Management Pty Ltd purchased a new stake in RadNet during the 1st quarter valued at about $683,000. Janus Henderson Group PLC increased its holdings in shares of RadNet by 108.6% in the first quarter. Janus Henderson Group PLC now owns 64,029 shares of the medical research company’s stock valued at $3,112,000 after purchasing an additional 33,335 shares during the last quarter. Russell Investments Group Ltd. lifted its position in RadNet by 103.4% during the first quarter. Russell Investments Group Ltd. now owns 249,898 shares of the medical research company’s stock worth $12,160,000 after buying an additional 127,039 shares in the last quarter. Sei Investments Co. boosted its stake in RadNet by 18.8% during the first quarter. Sei Investments Co. now owns 65,899 shares of the medical research company’s stock worth $3,207,000 after buying an additional 10,430 shares during the last quarter. Finally, Quadrature Capital Ltd purchased a new stake in RadNet in the 1st quarter valued at $1,049,000. Hedge funds and other 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.