StockNews.com Downgrades RadNet (NASDAQ:RDNT) to Sell

RadNet (NASDAQ:RDNT - Get Free Report) was downgraded by investment analysts at StockNews.com from a "hold" rating to a "sell" rating in a research note issued to investors on Thursday.

RDNT has been the topic of several other reports. Truist Financial reissued a "buy" rating and set a $55.00 price objective (up from $51.00) on shares of RadNet in a research note on Thursday, March 28th. 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 report on Friday, March 22nd. Finally, Barclays started coverage on RadNet in a research report on Wednesday, March 6th. They issued an "equal weight" rating and a $48.00 price target for the company.

RadNet Price Performance

Shares of RDNT traded up $0.68 during mid-day trading on Thursday, hitting $49.23. 420,250 shares of the stock were exchanged, compared to its average volume of 533,706. The company has a debt-to-equity ratio of 1.00, a quick ratio of 1.32 and a current ratio of 1.32. The company has a market cap of $3.37 billion, a PE ratio of -2,460.27 and a beta of 1.69. RadNet has a 52-week low of $25.11 and a 52-week high of $49.94. The firm has a 50-day moving average of $43.51 and a two-hundred day moving average of $36.46.

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

Institutional Investors Weigh In On RadNet

A number of institutional investors and hedge funds have recently modified their holdings of the business. State Board of Administration of Florida Retirement System lifted its position in shares of RadNet by 2.6% during the second quarter. State Board of Administration of Florida Retirement System now owns 14,021 shares of the medical research company's stock worth $457,000 after purchasing an additional 350 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in RadNet by 1.9% during the 2nd quarter. Price T Rowe Associates Inc. MD now owns 25,492 shares of the medical research company's stock valued at $441,000 after buying an additional 465 shares in the last quarter. FMR LLC boosted its position in RadNet by 15.0% in the 1st quarter. FMR LLC now owns 3,606 shares of the medical research company's stock valued at $90,000 after buying an additional 469 shares during the period. Voya Investment Management LLC boosted its position in RadNet by 2.0% in the 4th quarter. Voya Investment Management LLC now owns 23,800 shares of the medical research company's stock valued at $828,000 after buying an additional 478 shares during the period. Finally, Tower Research Capital LLC TRC grew its stake in RadNet by 84.3% in the 1st quarter. Tower Research Capital LLC TRC now owns 1,078 shares of the medical research company's stock worth $27,000 after acquiring an additional 493 shares in the last quarter. 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.

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