RadNet (NASDAQ:RDNT) Given Buy Rating at Truist Financial

Truist Financial restated their buy rating on shares of RadNet (NASDAQ:RDNT) in a report published on Thursday, Benzinga reports. Truist Financial currently has a $55.00 price target on the medical research company’s stock, up from their previous price target of $51.00.

Several other brokerages have also commented on RDNT. Jefferies Financial Group raised their price objective on RadNet from $47.00 to $58.00 and gave the company a buy rating in a research report on Friday, March 22nd. Barclays began coverage on RadNet in a research report on Wednesday, March 6th. They set an equal weight rating and a $48.00 price objective for the company. Finally, StockNews.com raised RadNet from a sell rating to a hold rating in a research report on Wednesday, March 20th. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of Moderate Buy and a consensus target price of $47.75.

RadNet Stock Performance

Shares of RDNT stock opened at $48.66 on Thursday. The stock has a fifty day moving average of $41.34 and a 200 day moving average of $35.05. RadNet has a 52 week low of $23.85 and a 52 week high of $49.41. The firm has a market capitalization of $3.33 billion, a price-to-earnings ratio of -2,431.78 and a beta of 1.66. 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 (NASDAQ:RDNT) last announced its quarterly earnings results 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 during the quarter, compared to analyst estimates of $410.11 million. During the same quarter last year, the firm posted $0.11 earnings per share. The firm’s revenue was up 9.5% on a year-over-year basis. As a group, research analysts expect that RadNet will post 0.36 earnings per share for the current year.

Hedge Funds Weigh In On RadNet

Several institutional investors and hedge funds have recently modified their holdings of RDNT. Bank of New York Mellon Corp increased its holdings in shares of RadNet by 2.5% during the first quarter. Bank of New York Mellon Corp now owns 398,943 shares of the medical research company’s stock valued at $8,924,000 after acquiring an additional 9,850 shares in the last quarter. Citigroup Inc. increased its holdings in RadNet by 4.9% in the 1st quarter. Citigroup Inc. now owns 117,645 shares of the medical research company’s stock worth $2,632,000 after buying an additional 5,448 shares in the last quarter. MetLife Investment Management LLC increased its holdings in RadNet by 55.7% in the 1st quarter. MetLife Investment Management LLC now owns 25,554 shares of the medical research company’s stock worth $572,000 after buying an additional 9,142 shares in the last quarter. Rhumbline Advisers increased its holdings in RadNet by 9.2% in the 1st quarter. Rhumbline Advisers now owns 115,282 shares of the medical research company’s stock worth $2,579,000 after buying an additional 9,760 shares in the last quarter. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its holdings in RadNet by 19.9% in the 1st quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 40,190 shares of the medical research company’s stock worth $899,000 after buying an additional 6,668 shares in the last quarter. 77.90% of the stock is currently owned by 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.