RadNet (NASDAQ:RDNT) Sets New 52-Week High at $52.74

Shares of RadNet, Inc. (NASDAQ:RDNT - Get Free Report) hit a new 52-week high on Tuesday . The company traded as high as $52.74 and last traded at $52.49, with a volume of 95891 shares trading hands. The stock had previously closed at $52.00.

Analyst Upgrades and Downgrades

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

RadNet Price Performance

The stock's 50 day simple moving average is $47.55 and its 200-day simple moving average is $39.11. The stock has a market capitalization of $3.88 billion, a price-to-earnings ratio of -2,622.19 and a beta of 1.69. The company has a debt-to-equity ratio of 1.00, a current ratio of 1.32 and a quick ratio of 1.32.

RadNet (NASDAQ:RDNT - Get Free Report) last posted its earnings results on Friday, March 1st. The medical research company reported $0.20 earnings per share for the quarter, topping the consensus estimate of $0.11 by $0.09. RadNet had a return on equity of 4.72% and a net margin of 0.19%. The firm had revenue of $420.38 million during the quarter, compared to analyst estimates of $410.11 million. During the same period in the previous year, the company earned $0.11 EPS. The company's revenue for the quarter was up 9.5% on a year-over-year basis. On average, analysts expect that RadNet, Inc. will post 0.35 EPS for the current fiscal year.

Hedge Funds Weigh In On RadNet

A number of institutional investors have recently made changes to their positions in the business. SG Americas Securities LLC boosted its holdings 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 purchasing an additional 291 shares during the period. Arizona State Retirement System raised its position in shares of RadNet by 3.6% during the third quarter. Arizona State Retirement System now owns 17,164 shares of the medical research company's stock valued at $484,000 after buying an additional 599 shares during the last quarter. Natixis Advisors L.P. lifted its stake in shares of RadNet by 5.6% in the fourth quarter. Natixis Advisors L.P. now owns 11,789 shares of the medical research company's stock valued at $409,000 after buying an additional 627 shares during the period. Mutual of America Capital Management LLC grew its position in RadNet by 6.2% during the first quarter. Mutual of America Capital Management LLC now owns 11,232 shares of the medical research company's stock worth $547,000 after buying an additional 656 shares in the last quarter. Finally, Assetmark Inc. increased its stake in RadNet by 51.6% during the third quarter. Assetmark Inc. now owns 2,354 shares of the medical research company's stock valued at $66,000 after acquiring an additional 801 shares during the period. 77.90% of the stock is currently 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.