RadNet (NASDAQ:RDNT) Upgraded to Hold by StockNews.com

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

Several other analysts also recently issued reports on the stock. Truist Financial reaffirmed a “buy” rating and issued a $55.00 price objective (up previously from $51.00) on shares of RadNet in a research report on Thursday. Jefferies Financial Group lifted their price target on shares of RadNet from $47.00 to $58.00 and gave the stock a “buy” rating in a research note on Friday, March 22nd. Finally, Barclays initiated coverage on shares of RadNet in a research report on Wednesday, March 6th. They issued an “equal weight” rating and a $48.00 price objective for the company. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, RadNet currently has an average rating of “Moderate Buy” and a consensus price target of $47.75.

RadNet Stock Up 0.4 %

Shares of NASDAQ:RDNT traded up $0.17 during midday trading on Thursday, hitting $48.66. 659,717 shares of the company’s stock traded hands, compared to its average volume of 549,474. The firm’s fifty day moving average price is $41.34 and its two-hundred day moving average price is $35.05. 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 has a twelve month low of $23.85 and a twelve month high of $49.41. The company has a market cap of $3.33 billion, a PE ratio of -2,431.78 and a beta of 1.66.

RadNet (NASDAQ:RDNT) last issued its quarterly earnings data 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 quarter in the previous year, the firm posted $0.11 earnings per share. The firm’s quarterly revenue was up 9.5% on a year-over-year basis. On average, equities research analysts anticipate that RadNet will post 0.36 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the stock. Tower Research Capital LLC TRC grew its stake in 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. Assetmark Inc. grew its position in shares of RadNet by 51.6% in the 3rd quarter. Assetmark Inc. now owns 2,354 shares of the medical research company’s stock worth $66,000 after acquiring an additional 801 shares in the last quarter. Lazard Asset Management LLC bought a new stake in shares of RadNet in the 3rd quarter valued at approximately $69,000. UBS Group AG raised its position in shares of RadNet by 48.8% during the 3rd quarter. UBS Group AG now owns 2,645 shares of the medical research company’s stock valued at $54,000 after acquiring an additional 867 shares in the last quarter. Finally, Cubist Systematic Strategies LLC lifted its stake in RadNet by 180.8% during the second quarter. Cubist Systematic Strategies LLC now owns 3,443 shares of the medical research company’s stock worth $59,000 after purchasing an additional 2,217 shares during the last quarter. 77.90% of the stock is owned by institutional investors and hedge funds.

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.