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

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

RDNT has been the topic of several other research reports. Barclays began coverage on RadNet in a research report on Wednesday, March 6th. They issued an “equal weight” rating and a $48.00 target price on the stock. Truist Financial reaffirmed a “buy” rating and set a $55.00 target price (up previously from $51.00) on shares of RadNet in a research note on Thursday, March 28th. Finally, Jefferies Financial Group increased their target price on shares of RadNet from $47.00 to $58.00 and gave the company a “buy” rating in a research report on Friday, March 22nd.

RadNet Price Performance

Shares of NASDAQ RDNT opened at $50.63 on Tuesday. The company has a debt-to-equity ratio of 1.00, a quick ratio of 1.32 and a current ratio of 1.32. The firm has a fifty day moving average of $47.81 and a 200 day moving average of $39.19. The firm has a market cap of $3.74 billion, a PE ratio of -2,531.50 and a beta of 1.69. RadNet has a one year low of $25.11 and a one year high of $52.75.

RadNet (NASDAQ:RDNT) last released its 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. The business had revenue of $420.38 million during the quarter, compared to analysts’ expectations of $410.11 million. RadNet had a net margin of 0.19% and a return on equity of 4.72%. The company’s quarterly revenue was up 9.5% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.11 earnings per share. As a group, research analysts predict that RadNet will post 0.35 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. raised its stake in RadNet by 0.8% during the fourth quarter. Vanguard Group Inc. now owns 4,254,717 shares of the medical research company’s stock worth $147,937,000 after purchasing an additional 32,483 shares during the period. Dimensional Fund Advisors LP lifted its holdings in RadNet by 4.3% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,744,124 shares of the medical research company’s stock valued at $60,646,000 after acquiring an additional 71,714 shares during the last quarter. Invesco Ltd. grew its position in RadNet by 12.5% in the third quarter. Invesco Ltd. now owns 1,471,687 shares of the medical research company’s stock worth $41,487,000 after acquiring an additional 163,380 shares during the period. Principal Financial Group Inc. increased its stake in RadNet by 11.8% during the first quarter. Principal Financial Group Inc. now owns 1,442,887 shares of the medical research company’s stock worth $70,211,000 after acquiring an additional 152,305 shares during the last quarter. Finally, Global Alpha Capital Management Ltd. increased its stake in RadNet by 16.2% during the first quarter. Global Alpha Capital Management Ltd. now owns 1,019,934 shares of the medical research company’s stock worth $49,630,000 after acquiring an additional 141,830 shares during the last quarter. Hedge funds and other institutional investors own 77.90% 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.