RadNet (RDNT) Upgraded to Buy by BidaskClub
RadNet (NASDAQ:RDNT) was upgraded by research analysts at BidaskClub from a “hold” rating to a “buy” rating in a report released on Wednesday.
RDNT has been the topic of several other research reports. Zacks Investment Research lowered RadNet from a “buy” rating to a “hold” rating in a report on Wednesday, January 10th. Raymond James Financial assumed coverage on RadNet in a report on Wednesday. They issued a “strong-buy” rating and a $15.00 target price on the stock. Jefferies Group set a $14.00 target price on RadNet and gave the company a “buy” rating in a report on Thursday, March 8th. Finally, FIX began coverage on RadNet in a report on Wednesday. They issued a “strong-buy” rating and a $15.00 target price on the stock. One investment analyst has rated the stock with a hold rating, two have assigned a buy rating and two have assigned a strong buy rating to the company. The stock presently has an average rating of “Buy” and a consensus price target of $13.75.
RadNet (RDNT) traded up $0.62 during trading on Wednesday, reaching $13.27. The company’s stock had a trading volume of 332,458 shares, compared to its average volume of 184,723. The company has a debt-to-equity ratio of 7.88, a current ratio of 1.29 and a quick ratio of 1.29. The firm has a market capitalization of $590.54, a price-to-earnings ratio of -1,325,000.00, a price-to-earnings-growth ratio of 2.67 and a beta of 0.69. RadNet has a 12 month low of $5.30 and a 12 month high of $13.40.
In related news, EVP Norman R. Hames sold 5,000 shares of the stock in a transaction on Wednesday, December 20th. The stock was sold at an average price of $9.96, for a total transaction of $49,800.00. Following the sale, the executive vice president now owns 365,087 shares of the company’s stock, valued at $3,636,266.52. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider John V. Crues sold 19,684 shares of the stock in a transaction on Tuesday, December 19th. The shares were sold at an average price of $10.01, for a total value of $197,036.84. Following the sale, the insider now directly owns 544,097 shares in the company, valued at approximately $5,446,410.97. The disclosure for this sale can be found here. 9.36% of the stock is owned by company insiders.
Several institutional investors and hedge funds have recently bought and sold shares of RDNT. Wells Fargo & Company MN boosted its stake in shares of RadNet by 1.9% during 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 last quarter. Northern Trust Corp boosted its stake in RadNet by 5.2% in the 2nd quarter. Northern Trust Corp now owns 436,407 shares of the medical research company’s stock worth $3,382,000 after buying an additional 21,746 shares during the last quarter. Vanguard Group Inc. boosted its stake in RadNet by 4.2% in the 2nd quarter. Vanguard Group Inc. now owns 1,284,852 shares of the medical research company’s stock worth $9,957,000 after buying an additional 51,229 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in RadNet by 7.9% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,531,850 shares of the medical research company’s stock worth $11,872,000 after buying an additional 112,194 shares during the last quarter. Finally, Voya Investment Management LLC boosted its stake in RadNet by 19.5% in the 2nd quarter. Voya Investment Management LLC now owns 21,726 shares of the medical research company’s stock worth $168,000 after buying an additional 3,546 shares during the last quarter. 56.53% of the stock is currently owned by institutional investors and hedge funds.
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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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