Zacks Investment Research upgraded shares of RadNet (NASDAQ:RDNT) from a hold rating to a buy rating in a report published on Thursday, January 4th. The firm currently has $11.00 target price on the medical research company’s stock.

According to Zacks, “RadNet, Inc., is a national market leader providing high-quality, cost-effective diagnostic imaging services through a network of fully-owned and operated outpatient imaging centers. RadNet offers to its patients and referring physicians the full spectrum of diagnostic imaging exams, including PET/CT, MRI, CT, Nuclear Medicine, Mammography, Ultrasound and X-ray, as well as numerous other procedures. RadNet utilizes best of breed technology to appropriately serve the medical communities in which it operates. “

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Separately, TheStreet lowered shares of RadNet from a b- rating to a c rating in a research report on Friday, October 27th.

RadNet (RDNT) opened at $10.15 on Thursday. The company has a current ratio of 1.29, a quick ratio of 1.29 and a debt-to-equity ratio of 7.88. RadNet has a 1-year low of $5.25 and a 1-year high of $11.90. The stock has a market cap of $490.53, a PE ratio of 34.33, a price-to-earnings-growth ratio of 2.24 and a beta of 0.83.

RadNet (NASDAQ:RDNT) last released its quarterly earnings results on Thursday, November 9th. The medical research company reported $0.12 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.12. RadNet had a net margin of 1.21% and a return on equity of 23.73%. The business had revenue of $227.60 million for the quarter, compared to analysts’ expectations of $232.84 million. During the same period last year, the business earned $0.11 EPS. The company’s revenue was up 1.3% compared to the same quarter last year. equities analysts anticipate that RadNet will post 0.35 earnings per share for the current year.

In other RadNet news, insider John V. Crues sold 19,684 shares of the firm’s stock in a transaction that occurred on Tuesday, December 19th. The shares were sold at an average price of $10.01, for a total transaction of $197,036.84. Following the completion of the transaction, the insider now directly owns 544,097 shares of the company’s stock, valued at approximately $5,446,410.97. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Norman R. Hames sold 5,000 shares of the firm’s stock in a transaction that occurred 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 directly owns 365,087 shares in the company, valued at approximately $3,636,266.52. The disclosure for this sale can be found here. Insiders have sold a total of 133,084 shares of company stock valued at $1,321,587 over the last three months. 9.36% of the stock is currently owned by insiders.

Several hedge funds and other institutional investors have recently modified their holdings of the company. Strs Ohio grew its stake in shares of RadNet by 12.5% during the 4th quarter. Strs Ohio now owns 70,900 shares of the medical research company’s stock worth $716,000 after purchasing an additional 7,900 shares during the period. Acadian Asset Management LLC grew its stake in RadNet by 58.9% in the 4th quarter. Acadian Asset Management LLC now owns 128,442 shares of the medical research company’s stock valued at $1,297,000 after acquiring an additional 47,585 shares during the period. Belpointe Asset Management LLC acquired a new stake in RadNet in the 3rd quarter valued at $946,000. Cubist Systematic Strategies LLC acquired a new stake in RadNet in the 3rd quarter valued at $195,000. Finally, Highbridge Capital Management LLC grew its stake in RadNet by 241.4% in the 3rd quarter. Highbridge Capital Management LLC now owns 70,875 shares of the medical research company’s stock valued at $819,000 after acquiring an additional 50,115 shares during the period. 53.24% 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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