RadNet (NASDAQ:RDNT) Hits New 52-Week High at $49.50

RadNet, Inc. (NASDAQ:RDNT - Get Free Report)'s share price hit a new 52-week high on Thursday . The company traded as high as $49.50 and last traded at $49.49, with a volume of 104627 shares. The stock had previously closed at $48.04.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on RDNT. Barclays began coverage on RadNet in a research report on Wednesday, March 6th. They set an "equal weight" rating and a $48.00 price target on the stock. StockNews.com upgraded RadNet from a "sell" rating to a "hold" rating in a research report on Thursday, March 28th. Truist Financial reiterated a "buy" rating and set a $55.00 price target (up 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 report on Friday, March 22nd.

RadNet Price Performance

The firm has a market capitalization of $3.28 billion, a P/E ratio of -2,394.30 and a beta of 1.69. The business has a fifty day moving average of $42.38 and a 200-day moving average of $35.73. The company has a debt-to-equity ratio of 1.00, a quick ratio of 1.32 and a current ratio of 1.32.

RadNet (NASDAQ:RDNT - Get Free Report) last issued its quarterly earnings data on Friday, March 1st. The medical research company reported $0.20 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.11 by $0.09. The business had revenue of $420.38 million during the quarter, compared to analyst estimates of $410.11 million. RadNet had a return on equity of 4.72% and a net margin of 0.19%. The business's revenue for the quarter was up 9.5% compared to the same quarter last year. During the same period in the prior year, the company posted $0.11 EPS. On average, sell-side analysts forecast that RadNet, Inc. will post 0.37 EPS for the current fiscal year.

Hedge Funds Weigh In On RadNet

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Tower Research Capital LLC TRC boosted its stake in RadNet by 84.3% during the 1st quarter. Tower Research Capital LLC TRC now owns 1,078 shares of the medical research company's stock valued at $27,000 after purchasing an additional 493 shares in the last quarter. UBS Group AG boosted its stake in shares of RadNet by 48.8% during the 3rd quarter. UBS Group AG now owns 2,645 shares of the medical research company's stock worth $54,000 after acquiring an additional 867 shares in the last quarter. Cubist Systematic Strategies LLC boosted its stake in shares of RadNet by 180.8% during the 2nd quarter. Cubist Systematic Strategies LLC now owns 3,443 shares of the medical research company's stock worth $59,000 after acquiring an additional 2,217 shares in the last quarter. Assetmark Inc. boosted its stake in shares of RadNet by 51.6% during the 3rd quarter. Assetmark Inc. now owns 2,354 shares of the medical research company's stock worth $66,000 after acquiring an additional 801 shares in the last quarter. Finally, Lazard Asset Management LLC bought a new stake in shares of RadNet during the 3rd quarter worth $69,000. 77.90% of the stock is owned by institutional investors.

About RadNet

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.