Stock Traders Buy Large Volume of Call Options on RadNet (NASDAQ:RDNT)

RadNet, Inc. (NASDAQ:RDNT) was the recipient of unusually large options trading activity on Friday. Stock investors purchased 9,582 call options on the stock. This represents an increase of 1,374% compared to the typical volume of 650 call options.

Analyst Upgrades and Downgrades

Several research firms have recently commented on RDNT. Truist Financial reaffirmed a “buy” rating and issued a $88.00 target price (down previously from $94.00) on shares of RadNet in a research report on Wednesday, January 22nd. Jefferies Financial Group reduced their price target on RadNet from $100.00 to $80.00 and set a “buy” rating for the company in a research note on Wednesday, January 15th. Finally, Barclays lowered their price objective on RadNet from $85.00 to $74.00 and set an “overweight” rating on the stock in a research report on Wednesday, January 22nd. One equities research analyst has rated the stock with a sell rating, four have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $75.50.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. KBC Group NV grew its stake in RadNet by 47.6% during the fourth quarter. KBC Group NV now owns 2,678 shares of the medical research company’s stock worth $187,000 after buying an additional 864 shares in the last quarter. Lisanti Capital Growth LLC bought a new stake in shares of RadNet during the 3rd quarter worth approximately $2,922,000. Franklin Resources Inc. boosted its position in shares of RadNet by 12.0% during the 3rd quarter. Franklin Resources Inc. now owns 387,061 shares of the medical research company’s stock worth $27,334,000 after acquiring an additional 41,381 shares in the last quarter. Pathstone Holdings LLC increased its stake in RadNet by 58.5% in the third quarter. Pathstone Holdings LLC now owns 27,503 shares of the medical research company’s stock valued at $1,908,000 after acquiring an additional 10,151 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC raised its position in RadNet by 30.4% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 1,475,995 shares of the medical research company’s stock valued at $103,532,000 after purchasing an additional 344,146 shares in the last quarter. Institutional investors and hedge funds own 77.90% of the company’s stock.

RadNet Stock Down 3.7 %

Shares of RDNT opened at $55.47 on Friday. The company has a current ratio of 2.16, a quick ratio of 2.16 and a debt-to-equity ratio of 0.89. The stock has a market capitalization of $4.11 billion, a PE ratio of -792.32 and a beta of 1.79. The firm’s 50 day moving average is $65.77 and its 200-day moving average is $69.04. RadNet has a 12 month low of $37.04 and a 12 month high of $93.65.

RadNet (NASDAQ:RDNT) last posted its quarterly earnings data on Thursday, February 27th. The medical research company reported $0.22 EPS for the quarter, topping analysts’ consensus estimates of $0.21 by $0.01. The firm had revenue of $477.10 million for the quarter, compared to analyst estimates of $459.42 million. RadNet had a positive return on equity of 4.29% and a negative net margin of 0.25%. Equities research analysts forecast that RadNet will post 0.56 EPS for the current year.

RadNet Company Profile

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.