RadNet, Inc. (NASDAQ:RDNT) Stock Has Consensus Target Price of $90.00

Key Points

• RadNet has a “Moderate Buy” consensus rating from nine analysts, with five buys, two strong buys, one hold and one sell. The average 12-month price target is $90, while Truist recently raised its target to $94.
• Institutional investors own 77.9% of RadNet’s stock, with major recent activity including new stakes from BlackRock, JB Capital Partners and Bamco.
• RadNet exceeded quarterly expectations, reporting $0.29 EPS versus a $0.20 estimate and revenue of $622.72 million, up 25% year over year. Shares recently opened at $69.93, below the consensus target but within a 52-week range of $50.82 to $85.84.

RadNet, Inc. (NASDAQ:RDNT - Get Free Report) has received a consensus recommendation of "Moderate Buy" from the nine research firms that are currently covering the company, MarketBeat reports. One research analyst has rated the stock with a sell rating, one has issued a hold rating, five have issued a buy rating and two have given a strong buy rating to the company. The average 1-year target price among brokers that have issued a report on the stock in the last year is $90.00.

Several research analysts have recently issued reports on RDNT shares. Truist Financial increased their price objective on shares of RadNet from $90.00 to $94.00 and gave the company a "buy" rating in a report on Tuesday, August 11th. Jefferies Financial Group reissued a "buy" rating on shares of RadNet in a report on Friday, July 31st. Weiss Ratings restated a "sell (d-)" rating on shares of RadNet in a research report on Friday, August 7th. Raymond James Financial reaffirmed a "strong-buy" rating on shares of RadNet in a research note on Tuesday, September 22nd. Finally, Zacks Research upgraded RadNet from a "strong sell" rating to a "hold" rating in a research report on Thursday, August 13th.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of RDNT. BlackRock Inc. acquired a new stake in shares of RadNet during the 2nd quarter valued at $675,768,000. Geode Capital Management LLC boosted its stake in shares of RadNet by 0.4% during the 4th quarter. Geode Capital Management LLC now owns 1,671,543 shares of the medical research company's stock worth $119,283,000 after acquiring an additional 6,655 shares in the last quarter. JB Capital Partners LP acquired a new position in shares of RadNet in the 2nd quarter worth $87,821,842. Dimensional Fund Advisors LP grew its holdings in shares of RadNet by 1.4% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,379,003 shares of the medical research company's stock worth $77,074,000 after acquiring an additional 19,188 shares during the last quarter. Finally, Bamco Inc. NY acquired a new stake in shares of RadNet during the second quarter worth $77,765,000. Institutional investors own 77.90% of the company's stock.

RadNet Price Performance

Shares of NASDAQ RDNT opened at $69.93 on Friday. The stock has a market cap of $5.50 billion, a P/E ratio of -258.99 and a beta of 1.41. The firm's 50-day simple moving average is $72.69 and its 200 day simple moving average is $63.25. RadNet has a fifty-two week low of $50.82 and a fifty-two week high of $85.84. The company has a quick ratio of 1.48, a current ratio of 1.48 and a debt-to-equity ratio of 0.94.

RadNet (NASDAQ:RDNT - Get Free Report) last announced its earnings results on Monday, August 10th. The medical research company reported $0.29 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.20 by $0.09. The firm had revenue of $622.72 million during the quarter, compared to analyst estimates of $610.87 million. RadNet had a negative net margin of 0.93% and a positive return on equity of 2.61%. RadNet's revenue was up 25.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.31 EPS. Equities analysts expect that RadNet will post 0.49 EPS for the current year.

About RadNet

RadNet, Inc is an outpatient diagnostic imaging company that provides medical imaging services through a network of ambulatory imaging centers. Its services include magnetic resonance imaging (MRI), computed tomography (CT), positron emission tomography (PET/CT), mammography, ultrasound, X-ray, fluoroscopy and other diagnostic examinations.

The company serves patients, physicians, hospitals and health systems, with operations concentrated in several U.S. markets, including California, Delaware, Maryland, New Jersey and New York.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.