RadNet (NASDAQ:RDNT) Price Target Increased to $60.00 by Analysts at Raymond James

RadNet (NASDAQ:RDNT - Get Free Report) had its price objective lifted by research analysts at Raymond James from $50.00 to $60.00 in a report issued on Friday, Benzinga reports. The firm presently has an "outperform" rating on the medical research company's stock. Raymond James' price objective would suggest a potential upside of 8.60% from the company's current price.

A number of other brokerages have also recently weighed in on RDNT. StockNews.com raised shares of RadNet from a "sell" rating to a "hold" rating in a research report on Tuesday. Jefferies Financial Group boosted their target price on RadNet from $47.00 to $58.00 and gave the company a "buy" rating in a research note on Friday, March 22nd. Truist Financial reiterated a "buy" rating and set a $55.00 price objective (up previously from $51.00) on shares of RadNet in a report on Thursday, March 28th. Finally, Barclays began coverage on shares of RadNet in a report on Wednesday, March 6th. They set an "equal weight" rating and a $48.00 target price on the stock. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $55.25.

RadNet Trading Up 3.1 %

Shares of RDNT stock traded up $1.68 during trading hours on Friday, reaching $55.25. The company had a trading volume of 639,283 shares, compared to its average volume of 528,811. 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 has a 1-year low of $25.11 and a 1-year high of $55.54. The company has a 50 day moving average of $48.13 and a 200 day moving average of $39.29. The firm has a market cap of $4.08 billion, a price-to-earnings ratio of -2,749.00 and a beta of 1.69.

RadNet (NASDAQ:RDNT - Get Free Report) last issued its earnings results on Wednesday, May 8th. The medical research company reported $0.07 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.09) by $0.16. The firm had revenue of $431.70 million for the quarter, compared to analysts' expectations of $421.72 million. RadNet had a return on equity of 4.72% and a net margin of 0.19%. The company's revenue was up 10.5% compared to the same quarter last year. During the same quarter last year, the business earned ($0.08) earnings per share. On average, equities research analysts anticipate that RadNet will post 0.35 EPS for the current year.

Institutional Investors Weigh In On RadNet

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

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