RadNet (NASDAQ:RDNT) Rating Increased to Hold at StockNews.com

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

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

RadNet Stock Performance

Shares of NASDAQ RDNT opened at $50.63 on Tuesday. The company has a debt-to-equity ratio of 1.00, a current ratio of 1.32 and a quick ratio of 1.32. RadNet has a one year low of $25.11 and a one year high of $52.75. The business’s 50-day moving average price is $47.81 and its two-hundred day moving average price is $39.19. The company has a market capitalization of $3.74 billion, a P/E ratio of -2,531.50 and a beta of 1.69.

RadNet (NASDAQ:RDNT) last announced its quarterly earnings results on Friday, March 1st. The medical research company reported $0.20 EPS for the quarter, beating the consensus estimate 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 return on equity of 4.72% and a net margin of 0.19%. The firm’s quarterly revenue was up 9.5% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.11 EPS. Analysts anticipate that RadNet will post 0.35 earnings per share for the current fiscal year.

Hedge Funds Weigh In On RadNet

A number of institutional investors have recently made changes to their positions in the business. Assetmark Inc. grew its holdings in RadNet by 51.6% in the 3rd quarter. Assetmark Inc. now owns 2,354 shares of the medical research company’s stock valued at $66,000 after buying an additional 801 shares during the last quarter. SG Americas Securities LLC increased its position in RadNet by 8.7% during the first quarter. SG Americas Securities LLC now owns 3,637 shares of the medical research company’s stock worth $177,000 after acquiring an additional 291 shares during the period. TIAA Trust National Association bought a new position in RadNet during the third quarter worth $208,000. MQS Management LLC acquired a new position in RadNet during the 3rd quarter valued at $209,000. Finally, Los Angeles Capital Management LLC bought a new stake in RadNet in the 1st quarter valued at $218,000. 77.90% of the stock is currently owned by institutional investors.

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.