Stock analysts at FIX assumed coverage on shares of RadNet (NASDAQ:RDNT) in a note issued to investors on Wednesday, The Fly reports. The firm set a “strong-buy” rating and a $15.00 price target on the medical research company’s stock. FIX’s price objective indicates a potential upside of 18.58% from the stock’s current price.
Several other brokerages have also recently issued reports on RDNT. Jefferies Group set a $14.00 price objective on RadNet and gave the stock a “buy” rating in a report on Thursday, March 8th. BidaskClub raised RadNet from a “sell” rating to a “hold” rating in a report on Saturday, January 6th. Finally, Zacks Investment Research raised RadNet from a “hold” rating to a “buy” rating and set a $11.00 price target for the company in a report on Thursday, January 4th. One research analyst has rated the stock with a sell rating, one has issued a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the stock. RadNet has an average rating of “Buy” and a consensus target price of $13.33.
RadNet (NASDAQ:RDNT) opened at $12.65 on Wednesday. RadNet has a 12 month low of $5.30 and a 12 month high of $13.06. The firm has a market capitalization of $590.54, a P/E ratio of -1,265,000.00, a price-to-earnings-growth ratio of 2.67 and a beta of 0.69. The company has a quick ratio of 1.29, a current ratio of 1.29 and a debt-to-equity ratio of 7.88.
In other RadNet news, insider John V. Crues sold 19,684 shares of the business’s stock in a transaction dated Tuesday, December 19th. The stock was sold at an average price of $10.01, for a total transaction of $197,036.84. Following the completion of the sale, the insider now owns 544,097 shares of the company’s stock, valued at $5,446,410.97. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Norman R. Hames sold 5,000 shares of the business’s stock in a transaction dated Wednesday, December 20th. The shares were sold at an average price of $9.96, for a total value of $49,800.00. Following the sale, the executive vice president now directly owns 365,087 shares of the company’s stock, valued at approximately $3,636,266.52. The disclosure for this sale can be found here. 9.36% of the stock is owned by insiders.
Several hedge funds and other institutional investors have recently modified their holdings of the company. BlackRock Inc. boosted its position in shares of RadNet by 5.4% in the fourth quarter. BlackRock Inc. now owns 2,172,969 shares of the medical research company’s stock worth $21,948,000 after buying an additional 111,267 shares during the period. Dimensional Fund Advisors LP lifted its stake in shares of RadNet by 7.9% in 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 acquiring an additional 112,194 shares in the last quarter. Renaissance Technologies LLC raised its stake in RadNet by 18.9% during the fourth quarter. Renaissance Technologies LLC now owns 1,404,444 shares of the medical research company’s stock valued at $14,185,000 after buying an additional 223,740 shares in the last quarter. Vanguard Group Inc. raised its stake in RadNet by 4.2% during the second quarter. Vanguard Group Inc. now owns 1,284,852 shares of the medical research company’s stock valued at $9,957,000 after buying an additional 51,229 shares in the last quarter. Finally, State Street Corp raised its stake in RadNet by 9.2% during the second quarter. State Street Corp now owns 585,218 shares of the medical research company’s stock valued at $4,538,000 after buying an additional 49,186 shares in the last quarter. 56.53% of the stock is owned by institutional investors.
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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