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

StockNews.com upgraded shares of RadNet (NASDAQ:RDNT) from a sell rating to a hold rating in a report published on Tuesday.

A number of other research analysts have also recently commented on the stock. Barclays assumed coverage on shares of RadNet in a research note on Wednesday, March 6th. They set an equal weight rating and a $48.00 price target for the company. Truist Financial restated a buy rating and set a $55.00 target price (up previously from $51.00) on shares of RadNet in a research report on Thursday, March 28th. Finally, Jefferies Financial Group increased their price objective on RadNet from $47.00 to $58.00 and gave the stock a buy rating in a research note on Friday, March 22nd.

RadNet Stock Up 0.9 %

Shares of RadNet stock opened at $52.47 on Tuesday. RadNet has a 12-month low of $25.11 and a 12-month high of $52.75. The company has a quick ratio of 1.32, a current ratio of 1.32 and a debt-to-equity ratio of 1.00. The stock has a 50 day moving average price of $47.55 and a two-hundred day moving average price of $39.11. The stock has a market capitalization of $3.88 billion, a P/E ratio of -2,623.50 and a beta of 1.69.

RadNet (NASDAQ:RDNT) last posted its quarterly earnings data on Friday, March 1st. The medical research company reported $0.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.11 by $0.09. The business had revenue of $420.38 million during the quarter, compared to the consensus estimate of $410.11 million. RadNet had a net margin of 0.19% and a return on equity of 4.72%. RadNet’s quarterly revenue was up 9.5% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.11 EPS. Equities analysts expect that RadNet will post 0.35 earnings per share for the current year.

Institutional Investors Weigh In On RadNet

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Assetmark Inc. increased its holdings in shares of RadNet by 51.6% in the third quarter. Assetmark Inc. now owns 2,354 shares of the medical research company’s stock valued at $66,000 after purchasing an additional 801 shares in the last quarter. SG Americas Securities LLC boosted its position in RadNet by 8.7% in the 1st quarter. SG Americas Securities LLC now owns 3,637 shares of the medical research company’s stock valued at $177,000 after buying an additional 291 shares during the last quarter. TIAA Trust National Association acquired a new stake in shares of RadNet in the 3rd quarter valued at $208,000. MQS Management LLC bought a new stake in shares of RadNet during the third quarter worth $209,000. Finally, Los Angeles Capital Management LLC acquired a new position in shares of RadNet during the first quarter valued at $218,000. Institutional investors and hedge funds own 77.90% of the company’s stock.

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.