RadNet Sees Unusually High Options Volume (NASDAQ:RDNT)

RadNet, Inc. (NASDAQ:RDNT) was the recipient of some unusual options trading on Friday. Investors acquired 9,582 call options on the stock. This represents an increase of approximately 1,374% compared to the average daily volume of 650 call options.

RadNet Stock Performance

Shares of NASDAQ:RDNT traded down $3.69 during trading on Friday, reaching $53.91. 1,235,766 shares of the company’s stock traded hands, compared to its average volume of 793,823. The company has a debt-to-equity ratio of 0.89, a current ratio of 2.16 and a quick ratio of 2.16. RadNet has a 12 month low of $37.04 and a 12 month high of $93.65. The company has a 50 day moving average of $65.77 and a 200-day moving average of $69.04. The stock has a market capitalization of $3.99 billion, a P/E ratio of -776.62 and a beta of 1.79.

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

Institutional Trading of RadNet

Several large investors have recently added to or reduced their stakes in RDNT. KBC Group NV boosted its holdings in RadNet by 47.6% in the 4th quarter. KBC Group NV now owns 2,678 shares of the medical research company’s stock valued at $187,000 after purchasing an additional 864 shares during the period. Lisanti Capital Growth LLC acquired a new stake in shares of RadNet during the 3rd quarter worth approximately $2,922,000. Franklin Resources Inc. grew its holdings in RadNet by 12.0% during the third quarter. Franklin Resources Inc. now owns 387,061 shares of the medical research company’s stock valued at $27,334,000 after purchasing an additional 41,381 shares during the period. Pathstone Holdings LLC boosted its holdings in shares of 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 buying an additional 10,151 shares during the period. Finally, Allspring Global Investments Holdings LLC boosted its holdings in shares of RadNet by 30.4% in 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 buying an additional 344,146 shares during the period. 77.90% of the stock is owned by institutional investors.

Analyst Ratings Changes

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

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.