A significant driver of top-line growth: RadNet Inc. (RDNT)

RadNet Inc. (NASDAQ: RDNT) stock fell -1.72% on Monday to $28.02 against a previous-day closing price of $28.51. With 0.47 million shares changed hands, the volume of the stock remained lighter than its average volume of 0.64 million shares. During the session, the Diagnostics & Research company that operates in wider Healthcare sector, reached to the highest price of $28.40 whereas the lowest price it dropped to was $27.73. The 52-week range on RDNT shows that it touched its highest point at $35.18 and its lowest point at $12.03 during that stretch. It currently has a 1-year price target of $39.00. Beta for the stock currently stands at 1.70.

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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 down-trending over the past week, with a drop of -4.73%, but this was down by -4.50% over a month. Three-month performance dropped to -10.71% while six-month performance rose 19.23%. The stock gained 37.62% in the past year, while it has gained 48.81% so far this year. A look at the trailing 12-month EPS for RDNT yields -0.23 with Next year EPS estimates of 0.53. For the next quarter, that number is 0.07. This implies an EPS growth rate of -41.70% for this year and 34.85% 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 -8.30%.

Float and Shares Shorts:

At present, 59.88 million RDNT shares are outstanding with a float of 59.44 million shares on hand for trading. On Aug 30, 2023, short shares totaled 1.67 million, which was 2.47% higher than short shares on Jul 30, 2023. 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 61.13% of RDNT’s outstanding shares, institutional investors have majority control over the company. Other institutions hold 7.05% of RDNT, in contrast to 38.61% held by mutual funds. Shares owned by individuals account for 36.77%. As the largest shareholder in RDNT with 10.92% of the stake, BlackRock Fund Advisors holds 7,403,145 shares worth 7,403,145. A second-largest stockholder of RDNT, The Vanguard Group, Inc., holds 3,936,633 shares, controlling over 5.81% of the firm’s shares. Beck, Mack & Oliver LLC is the third largest shareholder in RDNT, holding 3,260,242 shares or 4.81% stake. With a 4.74% stake in RDNT, the iShares Core S&P Small Cap ETF is the largest stakeholder. A total of 3,215,114 shares are owned by the mutual fund manager. The Edmond de Rothschild Fund – Big D, which owns about 2.86% of RDNT stock, is the second-largest Mutual Fund holder. It holds 1,937,930 shares valued at 64.75 million. Vanguard Total Stock Market ETF holds 2.72% of the stake in RDNT, owning 1,845,055 shares worth 61.64 million.


An Overview of Recent Financials:

Understanding a company as a customer does not mean you will understand it as an investor. The wise investor uses quantitative research to analyze metrics such as revenue, net income, and earnings. In its fiscal quarter reported on Jun 29, 2023, RDNT reported revenue of $354.38M and operating income of $19.74M. The EBITDA in the recently reported quarter was $68.61M and diluted EPS was $0.13.

Analysts Ratings:

Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for RDNT since 0 analysts follow the stock currently. 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 $40.00 and a low target of $37.00, the average target price over the next 12 months is $39.00. Based on these targets, RDNT could surge 42.76% to reach the target high and rise by 32.05% to reach the target low. Reaching the average price target will result in a growth of 39.19% 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.

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 11 while that of sell transactions has risen to 14 over the past year. The total number of shares bought during that period was 158,306 while 106,615 shares were sold.

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