Jefferies Financial Group Raises RadNet (NASDAQ:RDNT) Price Target to $58.00

RadNet (NASDAQ:RDNT) had its target price lifted by Jefferies Financial Group from $47.00 to $58.00 in a research note released on Friday morning, Benzinga reports. They currently have a buy rating on the medical research company’s stock.

Several other research firms also recently commented on RDNT. 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 boosted their price objective on RadNet from $42.00 to $51.00 and gave the stock a buy rating in a report on Monday, March 4th. Finally, StockNews.com raised RadNet from a sell rating to a hold rating in a research note on Wednesday, March 20th. Two equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of Moderate Buy and a consensus target price of $46.75.

RadNet Price Performance

NASDAQ:RDNT traded down $1.04 during trading hours on Friday, hitting $47.00. The company’s stock had a trading volume of 211,956 shares, compared to its average volume of 538,477. RadNet has a 52-week low of $23.54 and a 52-week high of $49.41. The company has a market capitalization of $3.22 billion, a PE ratio of -2,382.81 and a beta of 1.66. The business’s 50-day moving average is $40.42 and its two-hundred day moving average is $34.61. The company has a debt-to-equity ratio of 1.00, a quick ratio of 1.32 and a current ratio of 1.32.

RadNet (NASDAQ:RDNT) last issued its quarterly earnings results on Friday, March 1st. The medical research company reported $0.20 earnings per share for the quarter, beating 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 business had revenue of $420.38 million during the quarter, compared to the consensus estimate of $410.11 million. During the same period in the previous year, the business earned $0.11 EPS. The business’s quarterly revenue was up 9.5% on a year-over-year basis. As a group, research analysts anticipate that RadNet will post 0.44 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in RDNT. State Board of Administration of Florida Retirement System increased its holdings in RadNet by 2.6% in the 2nd quarter. State Board of Administration of Florida Retirement System now owns 14,021 shares of the medical research company’s stock valued at $457,000 after buying an additional 350 shares during the period. Price T Rowe Associates Inc. MD increased its position in RadNet by 1.9% during the 2nd quarter. Price T Rowe Associates Inc. MD now owns 25,492 shares of the medical research company’s stock worth $441,000 after purchasing an additional 465 shares in the last quarter. FMR LLC boosted its holdings in shares of RadNet by 15.0% during the 1st quarter. FMR LLC now owns 3,606 shares of the medical research company’s stock worth $90,000 after buying an additional 469 shares in the last quarter. Voya Investment Management LLC boosted its holdings in RadNet by 2.0% during the 4th quarter. Voya Investment Management LLC now owns 23,800 shares of the medical research company’s stock worth $828,000 after acquiring an additional 478 shares during the last quarter. Finally, Tower Research Capital LLC TRC increased its stake in shares of RadNet by 84.3% in the first quarter. Tower Research Capital LLC TRC now owns 1,078 shares of the medical research company’s stock worth $27,000 after purchasing an additional 493 shares in the last quarter. Institutional investors and hedge funds 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.