RadNet (NASDAQ:RDNT) Raised to Strong-Buy at Raymond James

RadNet (NASDAQ:RDNT) was upgraded by analysts at Raymond James from an “outperform” rating to a “strong-buy” rating in a report released on Wednesday, Marketbeat.com reports. The firm currently has a $65.00 target price on the medical research company’s stock, down from their previous target price of $85.00. Raymond James’ price target indicates a potential upside of 26.02% from the company’s current price.

Several other brokerages have also weighed in on RDNT. Jefferies Financial Group cut their price objective on shares of RadNet from $100.00 to $80.00 and set a “buy” rating on the stock in a research report on Wednesday, January 15th. Barclays dropped their price target on shares of RadNet from $85.00 to $74.00 and set an “overweight” rating on the stock in a research report on Wednesday, January 22nd. Finally, Truist Financial reissued a “buy” rating and issued a $88.00 price target (down previously from $94.00) on shares of RadNet in a research report on Wednesday, January 22nd. One research analyst has rated the stock with a sell rating, three have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat, RadNet has an average rating of “Buy” and a consensus price target of $76.75.

RadNet Stock Performance

RDNT stock opened at $51.58 on Wednesday. The company has a debt-to-equity ratio of 0.89, a quick ratio of 2.16 and a current ratio of 2.16. The stock has a market cap of $3.82 billion, a P/E ratio of -736.75 and a beta of 1.79. The firm has a 50 day simple moving average of $63.73 and a 200 day simple moving average of $68.68. RadNet has a 52 week low of $42.45 and a 52 week high of $93.65.

RadNet (NASDAQ:RDNT) last issued its quarterly earnings data on Thursday, February 27th. The medical research company reported $0.22 earnings per share for the quarter, beating the consensus estimate of $0.21 by $0.01. The firm had revenue of $477.10 million for the quarter, compared to analyst estimates of $459.42 million. RadNet had a negative net margin of 0.25% and a positive return on equity of 4.29%. Research analysts anticipate that RadNet will post 0.56 earnings per share for the current fiscal year.

Hedge Funds Weigh In On RadNet

A number of institutional investors and hedge funds have recently bought and sold shares of RDNT. Wealth Enhancement Advisory Services LLC bought a new position in RadNet during the third quarter worth $389,000. Nisa Investment Advisors LLC increased its position in RadNet by 321.6% during the third quarter. Nisa Investment Advisors LLC now owns 3,575 shares of the medical research company’s stock worth $248,000 after acquiring an additional 2,727 shares during the period. Hanseatic Management Services Inc. increased its position in RadNet by 4.4% during the third quarter. Hanseatic Management Services Inc. now owns 20,851 shares of the medical research company’s stock worth $1,447,000 after acquiring an additional 883 shares during the period. Principal Financial Group Inc. increased its position in RadNet by 8.5% during the third quarter. Principal Financial Group Inc. now owns 1,506,545 shares of the medical research company’s stock worth $104,539,000 after acquiring an additional 118,501 shares during the period. Finally, Covestor Ltd increased its position in RadNet by 10,875.0% during the third quarter. Covestor Ltd now owns 439 shares of the medical research company’s stock worth $30,000 after acquiring an additional 435 shares during the period. Institutional investors 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.