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

RadNet (NASDAQ:RDNT - Get Free Report) was downgraded by equities researchers at StockNews.com from a "hold" rating to a "sell" rating in a research report issued to clients and investors on Wednesday.

RDNT has been the topic of several other reports. Jefferies Financial Group lifted their price objective on shares of RadNet from $47.00 to $58.00 and gave the company a "buy" rating in a report on Friday, March 22nd. Raymond James lifted their target price on RadNet from $50.00 to $60.00 and gave the company an "outperform" rating in a research note on Friday, May 10th. Truist Financial reissued 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, Barclays began coverage on shares of RadNet in a research note on Wednesday, March 6th. They set an "equal weight" rating and a $48.00 price objective for the company. One analyst has rated the stock with a sell rating, one has issued a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of "Hold" and an average target price of $57.25.

RadNet Trading Up 2.7 %

Shares of NASDAQ RDNT traded up $1.51 during trading hours on Wednesday, reaching $58.24. The stock had a trading volume of 360,368 shares, compared to its average volume of 525,393. The business's fifty day moving average price is $48.90 and its two-hundred day moving average price is $40.20. The firm has a market cap of $4.30 billion, a price-to-earnings ratio of 194.13 and a beta of 1.69. RadNet has a 52-week low of $25.11 and a 52-week high of $58.32. The company has a current ratio of 1.86, a quick ratio of 1.32 and a debt-to-equity ratio of 0.76.

RadNet (NASDAQ:RDNT - Get Free Report) last posted its quarterly 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 business had revenue of $431.70 million for the quarter, compared to the consensus estimate of $421.72 million. RadNet had a return on equity of 5.05% and a net margin of 1.28%. The business's revenue was up 10.5% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($0.08) EPS. Analysts expect that RadNet will post 0.52 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the company. Assetmark Inc. boosted its holdings in 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 purchasing an additional 801 shares during the last quarter. SG Americas Securities LLC grew its position in RadNet by 8.7% during the first quarter. SG Americas Securities LLC now owns 3,637 shares of the medical research company's stock valued at $177,000 after buying an additional 291 shares during the period. MQS Management LLC acquired a new position in shares of RadNet in the first quarter worth about $207,000. Los Angeles Capital Management LLC purchased a new stake in shares of RadNet during the 1st quarter worth about $218,000. Finally, Entropy Technologies LP acquired a new stake in shares of RadNet during the 1st quarter valued at about $228,000. 77.90% of the stock is currently owned by hedge funds and other 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.