RadNet (NASDAQ:RDNT) Lifted to "Hold" at StockNews.com

RadNet (NASDAQ:RDNT - Get Free Report) was upgraded by StockNews.com from a "sell" rating to a "hold" rating in a research note issued on Tuesday.

A number of other research analysts have also weighed in on the stock. Jefferies Financial Group raised their price objective on shares of RadNet from $47.00 to $58.00 and gave the company a "buy" rating in a research note on Friday, March 22nd. Barclays initiated coverage on RadNet in a research note on Wednesday, March 6th. They set an "equal weight" rating and a $48.00 price target for the company. Finally, Truist Financial reissued a "buy" rating and issued a $55.00 price objective (up from $51.00) on shares of RadNet in a research note on Thursday, March 28th.

RadNet Stock Up 0.9 %

RadNet stock traded up $0.47 during midday trading on Tuesday, reaching $52.47. The stock had a trading volume of 496,624 shares, compared to its average volume of 520,590. The company has a fifty day moving average price of $47.55 and a two-hundred day moving average price of $39.11. RadNet has a 12 month low of $25.11 and a 12 month high of $52.75. The company has a current ratio of 1.32, a quick ratio of 1.32 and a debt-to-equity ratio of 1.00. The company has a market capitalization of $3.88 billion, a P/E ratio of -2,622.19 and a beta of 1.69.

RadNet (NASDAQ:RDNT - Get Free Report) last released its quarterly earnings data on Friday, March 1st. The medical research company reported $0.20 EPS for the quarter, beating 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 the consensus estimate of $410.11 million. During the same quarter in the previous year, the company posted $0.11 earnings per share. The company's quarterly revenue was up 9.5% on a year-over-year basis. As a group, equities analysts expect that RadNet will post 0.35 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Assetmark Inc. lifted its position in shares of RadNet by 51.6% during the 3rd quarter. Assetmark Inc. now owns 2,354 shares of the medical research company's stock worth $66,000 after buying an additional 801 shares in the last quarter. SG Americas Securities LLC lifted its holdings 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 worth $177,000 after acquiring an additional 291 shares during the period. Los Angeles Capital Management LLC purchased a new position in RadNet in the first quarter worth $218,000. O ROURKE & COMPANY Inc bought a new position in RadNet in the 1st quarter valued at $245,000. Finally, Thompson Davis & CO. Inc. purchased a new stake in shares of RadNet during the 1st quarter valued at $283,000. 77.90% of the stock is currently owned by hedge funds and other 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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