StockNews.com Upgrades RadNet (NASDAQ:RDNT) to “Hold”

RadNet (NASDAQ:RDNT) was upgraded by research analysts at StockNews.com from a “sell” rating to a “hold” rating in a research note issued to investors on Thursday.

Separately, Truist Financial began coverage on RadNet in a research report on Thursday, August 31st. They issued a “buy” rating and a $40.00 target price for the company.

RadNet Price Performance

Shares of RDNT opened at $29.18 on Thursday. The firm has a market cap of $1.98 billion, a price-to-earnings ratio of -2,915.08 and a beta of 1.75. The stock has a 50 day moving average of $28.68 and a 200-day moving average of $30.14. The company has a current ratio of 1.39, a quick ratio of 1.39 and a debt-to-equity ratio of 1.11. RadNet has a 52 week low of $15.75 and a 52 week high of $35.18.

RadNet (NASDAQ:RDNT) last issued its earnings results on Wednesday, November 8th. The medical research company reported $0.14 EPS for the quarter, topping the consensus estimate of $0.06 by $0.08. The company had revenue of $401.97 million during the quarter, compared to analyst estimates of $391.63 million. RadNet had a return on equity of 4.54% and a net margin of 0.25%. The business’s revenue was up 14.8% on a year-over-year basis. During the same quarter last year, the firm earned $0.09 EPS. As a group, analysts forecast that RadNet will post 0.38 EPS for the current year.

Institutional Trading of RadNet

Several hedge funds have recently made changes to their positions in RDNT. Point72 Asset Management L.P. lifted its holdings in shares of RadNet by 278.7% in the 2nd quarter. Point72 Asset Management L.P. now owns 2,066,295 shares of the medical research company’s stock worth $67,403,000 after purchasing an additional 1,520,695 shares during the last quarter. BlackRock Inc. raised its stake in RadNet by 17.0% during the 2nd quarter. BlackRock Inc. now owns 8,053,427 shares of the medical research company’s stock valued at $262,703,000 after acquiring an additional 1,170,999 shares in the last quarter. Principal Financial Group Inc. raised its stake in RadNet by 232.2% during the 2nd quarter. Principal Financial Group Inc. now owns 993,997 shares of the medical research company’s stock valued at $32,424,000 after acquiring an additional 694,744 shares in the last quarter. Loomis Sayles & Co. L P bought a new stake in RadNet during the 3rd quarter valued at $18,477,000. Finally, Emerald Advisers LLC bought a new stake in RadNet during the 3rd quarter valued at $12,503,000. Institutional investors own 74.84% of the company’s stock.

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.