RadNet (NASDAQ:RDNT) Reaches New 52-Week High at $50.35

RadNet, Inc. (NASDAQ:RDNT - Get Free Report) shares hit a new 52-week high on Wednesday . The stock traded as high as $50.35 and last traded at $50.27, with a volume of 573345 shares trading hands. The stock had previously closed at $48.50.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the stock. Barclays assumed coverage on shares of RadNet in a research note on Wednesday, March 6th. They issued an "equal weight" rating and a $48.00 target price on the stock. Truist Financial reissued a "buy" rating and issued a $55.00 target price (up previously from $51.00) on shares of RadNet in a research note on Thursday, March 28th. Jefferies Financial Group increased their target price on shares of RadNet from $47.00 to $58.00 and gave the company a "buy" rating in a research note on Friday, March 22nd. Finally, StockNews.com downgraded shares of RadNet from a "hold" rating to a "sell" rating in a research note on Thursday, April 11th.

RadNet Stock Up 4.0 %

The company has a market cap of $3.73 billion, a PE ratio of -2,521.24 and a beta of 1.69. The company's 50 day moving average is $46.50 and its 200 day moving average is $38.42. The company has a current ratio of 1.32, a quick ratio of 1.32 and a debt-to-equity ratio of 1.00.

RadNet (NASDAQ:RDNT - Get Free Report) last posted its quarterly earnings results on Friday, March 1st. The medical research company reported $0.20 EPS for the quarter, topping the consensus estimate of $0.11 by $0.09. The company had revenue of $420.38 million for 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%. The firm's revenue was up 9.5% compared to the same quarter last year. During the same quarter last year, the firm posted $0.11 EPS. As a group, analysts predict that RadNet, Inc. will post 0.35 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. grew its holdings in RadNet by 0.8% during the 4th quarter. Vanguard Group Inc. now owns 4,254,717 shares of the medical research company's stock worth $147,937,000 after acquiring an additional 32,483 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in RadNet by 4.3% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,744,124 shares of the medical research company's stock worth $60,646,000 after acquiring an additional 71,714 shares in the last quarter. Invesco Ltd. grew its holdings in RadNet by 12.5% during the 3rd quarter. Invesco Ltd. now owns 1,471,687 shares of the medical research company's stock worth $41,487,000 after acquiring an additional 163,380 shares in the last quarter. Principal Financial Group Inc. boosted its holdings in shares of RadNet by 11.8% in the 1st quarter. Principal Financial Group Inc. now owns 1,442,887 shares of the medical research company's stock valued at $70,211,000 after buying an additional 152,305 shares in the last quarter. Finally, Punch & Associates Investment Management Inc. boosted its holdings in shares of RadNet by 0.9% in the 3rd quarter. Punch & Associates Investment Management Inc. now owns 1,045,704 shares of the medical research company's stock valued at $29,478,000 after buying an additional 9,151 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.