Get in on RadNet Inc.’s (RDNT) buy-in window today!

RadNet Inc. (NASDAQ: RDNT) stock jumped 16.04% on Wednesday to $20.84 against a previous-day closing price of $17.96. With 0.52 million shares changed hands, the volume of the stock remained heavier than its average volume of 0.24 million shares. During the session, the Diagnostics & Research company that operates in wider Healthcare sector, reached to the highest price of $21.31 whereas the lowest price it dropped to was $19.87. The 52-week range on RDNT shows that it touched its highest point at $34.69 and its lowest point at $16.44 during that stretch. It currently has a 1-year price target of $33.00. Beta for the stock currently stands at 1.76.

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Price Performance and Earnings:

Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of RDNT was up-trending over the past week, with a rise of 11.15%, but this was up by 1.26% over a month. Three-month performance surged to 18.41% while six-month performance fell -10.37%. The stock lost -27.76% in the past year, while it has lost -30.79% so far this year. A look at the trailing 12-month EPS for RDNT yields 0.28 with Next year EPS estimates of 0.51. For the next quarter, that number is 0.16. This implies an EPS growth rate of 209.30% for this year and 61.83% for next year. EPS is expected to grow by 15.00% annually over the next five years; however, over the past five years, the company experienced an annual growth rate of 15.50%.

Float and Shares Shorts:

At present, 56.06 million RDNT shares are outstanding with a float of 50.03 million shares on hand for trading. On Jul 14, 2022, short shares totaled 1.97 million, which was 3.50% higher than short shares on Jun 14, 2022. In addition to Dr. Howard G. Berger M.D. as the firm’s Chairman, Pres & CEO, Mr. Mark D. Stolper serves as its Exec. VP & CFO.


Institutional Ownership:

Through their ownership of 68.68% of RDNT’s outstanding shares, institutional investors have majority control over the company. Other institutions hold 36.85% of RDNT, in contrast to 31.69% held by mutual funds. Shares owned by individuals account for 15.48%. As the largest shareholder in RDNT with 10.49% of the stake, BlackRock Fund Advisors holds 6,008,771 shares worth 6,008,771. A second-largest stockholder of RDNT, The Vanguard Group, Inc., holds 3,110,784 shares, controlling over 5.43% of the firm’s shares. Beck, Mack & Oliver LLC is the third largest shareholder in RDNT, holding 3,020,318 shares or 5.27% stake. With a 4.34% stake in RDNT, the iShares Core S&P Small Cap ETF is the largest stakeholder. A total of 2,484,582 shares are owned by the mutual fund manager. The Vanguard Total Stock Market Index, which owns about 2.44% of RDNT stock, is the second-largest Mutual Fund holder. It holds 1,401,351 shares valued at 28.15 million. iShares Russell 2000 ETF holds 1.84% of the stake in RDNT, owning 1,054,745 shares worth 21.19 million.

Analysts Ratings:

Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for RDNT since 3 analysts follow the stock currently. There are 1 analysts who recommend BUY ratings, while 0 suggest SELL ratings. Of the remaining analysts, 1 believe that the stock is worth HOLDING, 1 give it an OVERWEIGHT rating, and 0 thinks that it’s UNDERWEIGHT. In the same way, a target price assigned to a stock can also reveal much about its potential. With RDNT analysts setting a high price target of $31.00 and a low target of $28.00, the average target price over the next 12 months is $29.50. Based on these targets, RDNT could surge 48.75% to reach the target high and rise by 34.36% to reach the target low. Reaching the average price target will result in a growth of 41.55% from current levels.


EPS: Estimates vs Actual

It is also common to use earnings estimates to evaluate a firm’s growth potential and to determine trading strategy. RDNT will report FY 2022 earnings on 03/16/2023. Analysts have provided yearly estimates in a range of $0.50 being high and $0.23 being low. For RDNT, this leads to a yearly average estimate of $0.36. The earnings surprise of a firm occurs when the actual results change from the consensus earnings estimate. RadNet Inc. surprised analysts by $0.06 when it reported $0.13 EPS against a consensus estimate of $0.07. The surprise factor in the prior quarter was $0.07. Based on analyst estimates, the high estimate for the next quarter is $0.17 and the low estimate is $0.07. The average estimate for the next quarter is thus $0.13.

Summary of Insider Activity:

Insiders traded RDNT stock several times over the past three months with 0 Buys and 0 Sells. In these transactions, 0 shares were bought while 0 shares were sold. The number of buy transactions has increased to 14 while that of sell transactions has risen to 13 over the past year. The total number of shares bought during that period was 181,553 while 114,650 shares were sold.

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