RadNet (NASDAQ:RDNT) Upgraded to “Strong-Buy” at B. Riley

B. Riley upgraded shares of RadNet (NASDAQ:RDNT) to a strong-buy rating in a research note issued to investors on Thursday,Zacks.com reports.

A number of other brokerages have also recently issued reports on RDNT. Barclays cut their target price on RadNet from $74.00 to $60.00 and set an “overweight” rating on the stock in a report on Monday, March 24th. Truist Financial lowered their price target on RadNet from $88.00 to $74.00 and set a “buy” rating for the company 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 lowered their price target for the company from $85.00 to $65.00 in a research report on Wednesday, March 5th. One investment 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. According to data from MarketBeat, RadNet has an average rating of “Buy” and an average price target of $69.60.

RadNet Price Performance

RadNet stock opened at $55.41 on Thursday. The stock has a market capitalization of $4.16 billion, a price-to-earnings ratio of -791.46 and a beta of 1.43. RadNet has a 52-week low of $45.00 and a 52-week high of $93.65. The stock’s 50 day moving average price is $54.84 and its two-hundred day moving average price is $60.75. The company has a debt-to-equity ratio of 0.89, a quick ratio of 2.16 and a current ratio of 2.16.

Insider Buying and Selling

In other RadNet news, EVP Alma Gregory Sorensen sold 55,000 shares of the firm’s stock in a transaction dated Friday, May 23rd. The stock was sold at an average price of $56.48, for a total value of $3,106,400.00. Following the completion of the transaction, the executive vice president now owns 1,160,509 shares in the company, valued at $65,545,548.32. This trade represents a 4.52% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO Norman R. Hames sold 2,911 shares of the firm’s stock in a transaction dated Thursday, May 15th. The stock was sold at an average price of $60.00, for a total value of $174,660.00. Following the completion of the transaction, the chief operating officer now owns 24,889 shares of the company’s stock, valued at approximately $1,493,340. This represents a 10.47% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 73,447 shares of company stock valued at $4,113,270. 5.60% of the stock is owned by insiders.

Institutional Trading of RadNet

A number of large investors have recently modified their holdings of the business. Inspire Investing LLC boosted its position in shares of RadNet by 20.0% during the 1st quarter. Inspire Investing LLC now owns 6,893 shares of the medical research company’s stock valued at $343,000 after acquiring an additional 1,149 shares during the last quarter. Rhumbline Advisers boosted its position in shares of RadNet by 1.1% during the 1st quarter. Rhumbline Advisers now owns 175,776 shares of the medical research company’s stock valued at $8,740,000 after acquiring an additional 1,895 shares during the last quarter. Strs Ohio bought a new stake in shares of RadNet during the 1st quarter valued at about $139,000. Intech Investment Management LLC lifted its position in RadNet by 49.8% in the 1st quarter. Intech Investment Management LLC now owns 66,809 shares of the medical research company’s stock worth $3,322,000 after buying an additional 22,198 shares during the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in RadNet by 2.0% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 440,543 shares of the medical research company’s stock worth $21,904,000 after buying an additional 8,762 shares during the last quarter. Institutional investors own 77.90% of the company’s stock.

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.