StockNews.com Upgrades RadNet (NASDAQ:RDNT) to Hold

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

RDNT has been the topic of several other research reports. Jefferies Financial Group increased their price objective 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. Barclays started coverage on shares of RadNet in a research report on Wednesday, March 6th. They issued an “equal weight” rating and a $48.00 price target on the stock. 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 research report on Thursday, March 28th.

RadNet Stock Performance

RDNT traded up $0.47 during mid-day trading on Tuesday, reaching $52.47. 496,624 shares of the company traded hands, compared to its average volume of 520,590. The company’s fifty day moving average price is $47.55 and its 200-day moving average price is $39.11. The stock has a market capitalization of $3.88 billion, a P/E ratio of -2,622.19 and a beta of 1.69. The company has a quick ratio of 1.32, a current ratio of 1.32 and a debt-to-equity ratio of 1.00. RadNet has a 52-week low of $25.11 and a 52-week high of $52.75.

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 the consensus estimate 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 during the quarter, compared to analyst estimates of $410.11 million. During the same quarter in the previous year, the company posted $0.11 earnings per share. RadNet’s revenue was up 9.5% compared to the same quarter last year. On average, sell-side analysts expect that RadNet will post 0.35 EPS for the current year.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in RDNT. Assetmark Inc. boosted 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 worth $66,000 after buying an additional 801 shares during the period. SG Americas Securities LLC raised its stake in RadNet by 8.7% during the 1st quarter. SG Americas Securities LLC now owns 3,637 shares of the medical research company’s stock valued at $177,000 after purchasing an additional 291 shares during the period. TIAA Trust National Association bought a new stake in RadNet during the 3rd quarter valued at approximately $208,000. MQS Management LLC bought a new position in RadNet in the 3rd quarter worth approximately $209,000. Finally, Los Angeles Capital Management LLC bought a new position in RadNet in the 1st quarter worth approximately $218,000. 77.90% of the stock is owned by hedge funds and other institutional investors.

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.