RadNet (NASDAQ:RDNT) Cut to “Sell” at StockNews.com

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

Several other analysts have also recently issued reports on the company. Truist Financial reaffirmed a “buy” rating and set a $55.00 price objective (up from $51.00) on shares of RadNet in a report on Thursday, March 28th. Jefferies Financial Group boosted their target price on RadNet from $47.00 to $58.00 and gave the company a “buy” rating in a research report on Friday, March 22nd. Finally, Barclays initiated coverage on RadNet in a research report on Wednesday, March 6th. They set an “equal weight” rating and a $48.00 target price on the stock.

RadNet Stock Down 1.5 %

RDNT stock opened at $48.50 on Thursday. RadNet has a twelve month low of $25.11 and a twelve month high of $49.94. The company has a quick ratio of 1.32, a current ratio of 1.32 and a debt-to-equity ratio of 1.00. The stock has a market cap of $3.32 billion, a P/E ratio of -2,423.79 and a beta of 1.69. The business’s 50-day moving average price is $43.73 and its 200-day moving average price is $36.60.

RadNet (NASDAQ:RDNT) last posted its quarterly earnings results on Friday, March 1st. The medical research company reported $0.20 EPS for the quarter, topping analysts’ consensus estimates of $0.11 by $0.09. RadNet had a return on equity of 4.72% and a net margin of 0.19%. The company had revenue of $420.38 million for the quarter, compared to analysts’ expectations of $410.11 million. During the same period in the previous year, the firm earned $0.11 EPS. The firm’s revenue was up 9.5% compared to the same quarter last year. On average, equities research analysts forecast that RadNet will post 0.35 EPS for the current year.

Hedge Funds Weigh In On RadNet

Several hedge funds have recently bought and sold shares of the business. Point72 Asset Management L.P. grew its position in shares of RadNet by 278.7% during 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 buying an additional 1,520,695 shares in the last quarter. BlackRock Inc. lifted its stake in shares of RadNet by 17.0% during the 2nd quarter. BlackRock Inc. now owns 8,053,427 shares of the medical research company’s stock worth $262,703,000 after purchasing an additional 1,170,999 shares during the last quarter. RTW Investments LP purchased a new stake in shares of RadNet during the 4th quarter worth $23,073,000. Loomis Sayles & Co. L P purchased a new stake in shares of RadNet during the 3rd quarter worth $18,477,000. Finally, Wellington Management Group LLP purchased a new stake in shares of RadNet during the 3rd quarter worth $17,534,000. Institutional investors own 77.90% of the company’s stock.

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.