RadNet, Inc. (NASDAQ:RDNT) Given Consensus Rating of “Buy” by Analysts

RadNet, Inc. (NASDAQ:RDNT) has been given an average rating of “Buy” by the five research firms that are covering the firm, Marketbeat reports. Three investment analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company. The average 1 year target price among brokerages that have updated their coverage on the stock in the last year is $76.75.

Several brokerages have commented on RDNT. Jefferies Financial Group decreased their price objective on shares of RadNet from $100.00 to $80.00 and set a “buy” rating for the company in a report on Wednesday, January 15th. Truist Financial reissued a “buy” rating and issued a $88.00 price target (down from $94.00) on shares of RadNet in a research note on Wednesday, January 22nd. Raymond James raised RadNet from an “outperform” rating to a “strong-buy” rating and cut their price objective for the company from $85.00 to $65.00 in a research report on Wednesday. Finally, Barclays reduced their target price on RadNet from $85.00 to $74.00 and set an “overweight” rating on the stock in a report on Wednesday, January 22nd.

Institutional Investors Weigh In On RadNet

Several hedge funds have recently bought and sold shares of RDNT. Vanguard Group Inc. increased its stake in shares of RadNet by 1.0% during the fourth quarter. Vanguard Group Inc. now owns 7,425,218 shares of the medical research company’s stock valued at $518,577,000 after purchasing an additional 71,910 shares in the last quarter. State Street Corp boosted its position in shares of RadNet by 1.3% in the 3rd quarter. State Street Corp now owns 2,446,179 shares of the medical research company’s stock worth $169,740,000 after purchasing an additional 30,244 shares in the last quarter. RTW Investments LP grew its stake in shares of RadNet by 9.4% in the 4th quarter. RTW Investments LP now owns 1,978,582 shares of the medical research company’s stock worth $138,184,000 after buying an additional 169,978 shares during the last quarter. Invesco Ltd. increased its position in RadNet by 4.3% during the 4th quarter. Invesco Ltd. now owns 1,731,074 shares of the medical research company’s stock valued at $120,898,000 after buying an additional 70,673 shares in the last quarter. Finally, Geode Capital Management LLC raised its stake in RadNet by 0.8% during the third quarter. Geode Capital Management LLC now owns 1,555,214 shares of the medical research company’s stock valued at $107,936,000 after buying an additional 11,613 shares during the last quarter. Institutional investors own 77.90% of the company’s stock.

RadNet Stock Down 2.8 %

Shares of NASDAQ:RDNT opened at $51.58 on Friday. The stock’s 50-day moving average is $63.73 and its 200 day moving average is $68.68. The company has a market cap of $3.82 billion, a PE ratio of -736.75 and a beta of 1.79. The company has a debt-to-equity ratio of 0.89, a current ratio of 2.16 and a quick ratio of 2.16. RadNet has a 1 year low of $42.45 and a 1 year high of $93.65.

RadNet (NASDAQ:RDNT) last posted its earnings results on Thursday, February 27th. The medical research company reported $0.22 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.21 by $0.01. RadNet had a positive return on equity of 4.29% and a negative net margin of 0.25%. The firm had revenue of $477.10 million for the quarter, compared to analysts’ expectations of $459.42 million. Sell-side analysts anticipate that RadNet will post 0.56 EPS for the current year.

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.