RadNet (NASDAQ:RDNT) Upgraded at B. Riley

B. Riley upgraded shares of RadNet (NASDAQ:RDNT) to a strong-buy rating in a report published on Thursday morning,Zacks.com reports.

Several other equities analysts have also recently issued reports on the company. Barclays reduced their target price on RadNet from $74.00 to $60.00 and set an “overweight” rating on the stock in a research note on Monday, March 24th. Truist Financial dropped their price target on RadNet from $88.00 to $74.00 and set a “buy” rating on the stock in a research report on Friday, April 11th. Wall Street Zen lowered RadNet from a “hold” rating to a “sell” rating in a research report on Thursday, May 22nd. Finally, Raymond James raised RadNet from an “outperform” rating to a “strong-buy” rating and dropped their target price for the stock from $85.00 to $65.00 in a report on Wednesday, March 5th. One research analyst has rated the stock with a sell rating, three have given a buy rating and three have issued a strong buy rating to the company’s stock. According to data from MarketBeat, RadNet presently has an average rating of “Buy” and an average target price of $69.60.

RadNet Price Performance

Shares of RadNet stock opened at $55.41 on Thursday. The company has a debt-to-equity ratio of 0.89, a current ratio of 2.16 and a quick ratio of 2.16. The business’s 50 day simple moving average is $54.84 and its two-hundred day simple moving average is $60.75. The stock has a market capitalization of $4.16 billion, a P/E ratio of -791.46 and a beta of 1.43. RadNet has a one year low of $45.00 and a one year high of $93.65.

Insiders Place Their Bets

In other news, COO Norman R. Hames sold 5,000 shares of the company’s stock in a transaction 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 transaction, the chief operating officer now directly owns 261,959 shares of the company’s stock, valued at $13,042,938.61. This represents a 1.87% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Alma Gregory Sorensen sold 55,000 shares of the company’s stock in a transaction on Friday, May 23rd. The shares were sold at an average price of $56.48, for a total value of $3,106,400.00. Following the transaction, the executive vice president now directly owns 1,160,509 shares in the company, valued at approximately $65,545,548.32. The trade was a 4.52% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 73,447 shares of company stock valued at $4,113,270. 5.60% of the stock is currently owned by corporate insiders.

Institutional Trading of RadNet

Hedge funds have recently bought and sold shares of the company. Headlands Technologies LLC purchased a new stake in RadNet during the first quarter valued at $28,000. GAMMA Investing LLC increased its position in RadNet by 22.3% during the first quarter. GAMMA Investing LLC now owns 1,644 shares of the medical research company’s stock valued at $82,000 after acquiring an additional 300 shares during the last quarter. Jones Financial Companies Lllp increased its position in RadNet by 563.4% during the first quarter. Jones Financial Companies Lllp now owns 1,705 shares of the medical research company’s stock valued at $85,000 after acquiring an additional 1,448 shares during the last quarter. Smartleaf Asset Management LLC increased its position in RadNet by 377.0% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,345 shares of the medical research company’s stock valued at $96,000 after acquiring an additional 1,063 shares during the last quarter. Finally, Tower Research Capital LLC TRC increased its position in RadNet by 42.2% during the fourth quarter. Tower Research Capital LLC TRC now owns 1,422 shares of the medical research company’s stock valued at $99,000 after acquiring an additional 422 shares during the last quarter. 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.