Brokerages Set RadNet Inc. (RDNT) Price Target at $14.67

RadNet Inc. (NASDAQ:RDNT) has been given an average recommendation of “Buy” by the six brokerages that are currently covering the company, MarketBeat Ratings reports. One research analyst has rated the stock with a hold recommendation, two have issued a buy recommendation and two have issued a strong buy recommendation on the company. The average 1 year price objective among brokers that have issued a report on the stock in the last year is $14.67.

RDNT has been the topic of several recent analyst reports. Zacks Investment Research upgraded shares of RadNet from a “sell” rating to a “hold” rating in a research note on Wednesday. FIX assumed coverage on RadNet in a report on Wednesday. They issued a “strong-buy” rating and a $15.00 price objective for the company. BidaskClub raised RadNet from a “sell” rating to a “hold” rating in a report on Saturday, January 6th. Jefferies Group set a $14.00 price objective on RadNet and gave the company a “buy” rating in a report on Thursday, March 8th. Finally, Raymond James Financial assumed coverage on RadNet in a report on Wednesday. They issued a “strong-buy” rating and a $15.00 price objective for the company.

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In other news, EVP Norman R. Hames sold 5,000 shares of the stock in a transaction that occurred on Wednesday, December 20th. The stock was sold at an average price of $9.96, for a total value of $49,800.00. Following the completion of the sale, the executive vice president now directly owns 365,087 shares of the company’s stock, valued at $3,636,266.52. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Michael N. Murdock sold 38,333 shares of the stock in a transaction that occurred on Wednesday, March 14th. The shares were sold at an average price of $13.06, for a total value of $500,628.98. Following the completion of the sale, the executive vice president now directly owns 107,242 shares of the company’s stock, valued at $1,400,580.52. The disclosure for this sale can be found here. Insiders sold 118,611 shares of company stock valued at $1,454,838 over the last three months. Corporate insiders own 9.36% of the company’s stock.

Several hedge funds have recently bought and sold shares of RDNT. Wells Fargo & Company MN boosted its holdings in shares of RadNet by 1.9% in the second quarter. Wells Fargo & Company MN now owns 35,843 shares of the medical research company’s stock valued at $278,000 after acquiring an additional 654 shares during the period. Alliancebernstein L.P. lifted its holdings in shares of RadNet by 101.5% during the second quarter. Alliancebernstein L.P. now owns 27,000 shares of the medical research company’s stock worth $209,000 after purchasing an additional 13,600 shares during the period. Northern Trust Corp lifted its holdings in shares of RadNet by 5.2% during the second quarter. Northern Trust Corp now owns 436,407 shares of the medical research company’s stock worth $3,382,000 after purchasing an additional 21,746 shares during the period. Vanguard Group Inc. lifted its holdings in shares of RadNet by 4.2% during the second quarter. Vanguard Group Inc. now owns 1,284,852 shares of the medical research company’s stock worth $9,957,000 after purchasing an additional 51,229 shares during the period. Finally, Dimensional Fund Advisors LP lifted its holdings in shares of RadNet by 7.9% during the second quarter. Dimensional Fund Advisors LP now owns 1,531,850 shares of the medical research company’s stock worth $11,872,000 after purchasing an additional 112,194 shares during the period. 56.53% of the stock is owned by institutional investors and hedge funds.

Shares of RadNet (RDNT) traded down $0.30 during trading on Wednesday, reaching $12.45. 766,360 shares of the company’s stock traded hands, compared to its average volume of 299,443. The stock has a market capitalization of $607.21, a price-to-earnings ratio of -1,245,000.00, a P/E/G ratio of 2.95 and a beta of 0.69. RadNet has a one year low of $5.35 and a one year high of $13.40. The company has a debt-to-equity ratio of 7.88, a current ratio of 1.29 and a quick ratio of 1.29.

RadNet (NASDAQ:RDNT) last announced its quarterly earnings results on Thursday, March 8th. The medical research company reported $0.13 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.14 by ($0.01). The company had revenue of $235.50 million during the quarter, compared to analysts’ expectations of $228.46 million. RadNet had a net margin of 0.01% and a return on equity of 26.66%. The business’s revenue for the quarter was up 4.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.08 earnings per share. sell-side analysts predict that RadNet will post 0.54 earnings per share for the current year.

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RadNet Company Profile

RadNet, Inc is a provider of freestanding, fixed-site outpatient diagnostic imaging services in the United States. As of December 31, 2016, the Company operated directly or indirectly through joint ventures, 305 centers located in California, Delaware, Florida, Maryland, New Jersey, New York and Rhode Island.

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