RadNet's (RDNT) "Buy" Rating Reaffirmed at Truist Financial

RadNet (NASDAQ:RDNT - Get Free Report)'s stock had its "buy" rating reiterated by equities researchers at Truist Financial in a note issued to investors on Thursday, Benzinga reports. They currently have a $55.00 target price on the medical research company's stock, up from their previous target price of $51.00. Truist Financial's target price would indicate a potential upside of 13.03% from the company's current price.

A number of other equities research analysts have also recently weighed in on RDNT. Jefferies Financial Group lifted their price target on RadNet from $47.00 to $58.00 and gave the company a "buy" rating in a report on Friday, March 22nd. StockNews.com raised RadNet from a "sell" rating to a "hold" rating in a report on Wednesday, March 20th. Finally, Barclays initiated coverage on RadNet in a report on Wednesday, March 6th. They issued an "equal weight" rating and a $48.00 price target on the stock. Two analysts have rated the stock with a hold rating and three have given a buy rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $47.75.

RadNet Stock Up 0.4 %

NASDAQ:RDNT traded up $0.17 during mid-day trading on Thursday, reaching $48.66. The stock had a trading volume of 659,717 shares, compared to its average volume of 549,474. The company has a market capitalization of $3.33 billion, a price-to-earnings ratio of -2,431.78 and a beta of 1.66. RadNet has a 1-year low of $23.85 and a 1-year high of $49.41. The stock's 50 day simple moving average is $41.34 and its two-hundred day simple moving average is $35.05. 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 issued its earnings results on Friday, March 1st. The medical research company reported $0.20 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $420.38 million for the quarter, compared to analysts' expectations of $410.11 million. During the same quarter last year, the company posted $0.11 earnings per share. RadNet's revenue was up 9.5% on a year-over-year basis. Equities analysts anticipate that RadNet will post 0.36 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. Tower Research Capital LLC TRC increased its holdings in RadNet by 84.3% in the first quarter. Tower Research Capital LLC TRC now owns 1,078 shares of the medical research company's stock valued at $27,000 after purchasing an additional 493 shares during the last quarter. UBS Group AG increased its stake in shares of RadNet by 48.8% during the third quarter. UBS Group AG now owns 2,645 shares of the medical research company's stock worth $54,000 after purchasing an additional 867 shares during the period. Cubist Systematic Strategies LLC increased its stake in RadNet by 180.8% during the 2nd quarter. Cubist Systematic Strategies LLC now owns 3,443 shares of the medical research company's stock worth $59,000 after acquiring an additional 2,217 shares during the period. Assetmark Inc. boosted its holdings in shares of RadNet by 51.6% in the 3rd 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 in the last quarter. Finally, Lazard Asset Management LLC acquired a new stake in shares of RadNet during the 3rd quarter valued at $69,000. Institutional investors and hedge funds own 77.90% of the company's stock.

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.