RadNet (NASDAQ:RDNT) Sets New 12-Month High – Should You Buy?

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

Analysts Set New Price Targets

Several research firms recently commented on RDNT. Truist Financial upped their price objective on RadNet from $70.00 to $80.00 and gave the company a “buy” rating in a research note on Monday, September 23rd. Barclays upgraded 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 research note on Friday, September 6th. Jefferies Financial Group boosted their price objective on RadNet from $75.00 to $80.00 and gave the company a “buy” rating in a research note on Thursday, September 19th. Finally, Sidoti upgraded shares of RadNet to a “strong-buy” rating in a research report on Friday, October 4th. One investment analyst has rated the stock with a sell rating, four have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, RadNet presently has an average rating of “Moderate Buy” and a consensus price target of $74.75.

RadNet Trading Down 2.9 %

The company has a debt-to-equity ratio of 0.92, a quick ratio of 2.12 and a current ratio of 2.12. The firm has a market cap of $5.05 billion, a P/E ratio of 227.87 and a beta of 1.74. The firm has a 50 day simple moving average of $65.96 and a 200 day simple moving average of $59.56.

RadNet (NASDAQ:RDNT) last released its quarterly earnings data on Wednesday, August 7th. The medical research company reported $0.16 EPS for the quarter, missing analysts’ consensus estimates of $0.17 by ($0.01). The firm had revenue of $459.70 million during the quarter, compared to the consensus estimate of $438.53 million. RadNet had a net margin of 0.58% and a return on equity of 4.30%. RadNet’s revenue was up 13.9% compared to the same quarter last year. During the same quarter last year, the business posted $0.24 earnings per share. On average, equities research analysts predict that RadNet, Inc. will post 0.6 EPS for the current fiscal year.

Insider Transactions at RadNet

In related news, EVP Michael N. Murdock sold 15,000 shares of RadNet stock in a transaction 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 sale, the executive vice president now owns 48,144 shares of the company’s stock, valued at approximately $3,022,480.32. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 5.12% of the company’s stock.

Institutional Investors Weigh In On RadNet

A number of institutional investors and hedge funds have recently bought and sold shares of RDNT. AQR Capital Management LLC grew its stake in RadNet by 3.2% in the 2nd quarter. AQR Capital Management LLC now owns 5,131 shares of the medical research company’s stock worth $302,000 after buying an additional 160 shares in the last quarter. SG Americas Securities LLC lifted its holdings in shares of RadNet by 8.7% during the 1st quarter. SG Americas Securities LLC now owns 3,637 shares of the medical research company’s stock worth $177,000 after acquiring an additional 291 shares during the last quarter. Hanseatic Management Services Inc. grew its position in RadNet by 1.8% in the second quarter. Hanseatic Management Services Inc. now owns 19,968 shares of the medical research company’s stock worth $1,177,000 after acquiring an additional 353 shares in the last quarter. GAMMA Investing LLC increased its stake in RadNet by 74.7% in the second quarter. GAMMA Investing LLC now owns 865 shares of the medical research company’s stock valued at $51,000 after acquiring an additional 370 shares during the last quarter. Finally, Sumitomo Mitsui DS Asset Management Company Ltd raised its position in RadNet by 6.0% during the third quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 7,087 shares of the medical research company’s stock valued at $492,000 after purchasing an additional 399 shares in the last quarter. 77.90% of the stock is owned by hedge funds and other institutional investors.

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.