RadNet, Inc. (RDNT) – What Are Researchers Thinking About This Stock?

Shares of RadNet, Inc. (NASDAQ:RDNT) have been given an average recommendation of “Moderate Buy” by the nine analysts that are presently covering the stock, MarketBeat reports. One research analyst has rated the stock with a sell recommendation, one has issued a hold recommendation, five have issued a buy recommendation and two have given a strong buy recommendation to the company. The average 1-year price objective among analysts that have covered the stock in the last year is $90.00.

RDNT has been the subject of several recent research reports. Raymond James Financial restated a “strong-buy” rating on shares of RadNet in a report on Tuesday, September 22nd. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of RadNet in a report on Friday, August 7th. Jefferies Financial Group reiterated a “buy” rating on shares of RadNet in a research report on Friday, July 31st. Zacks Research raised shares of RadNet from a “strong sell” rating to a “hold” rating in a research note on Thursday, August 13th. Finally, Barclays raised their price objective on shares of RadNet from $65.00 to $79.00 and gave the stock an “overweight” rating in a research note on Friday, August 28th.

RadNet Stock Performance

Shares of RDNT stock opened at $70.91 on Friday. The stock has a fifty day moving average price of $73.37 and a 200 day moving average price of $63.49. The company has a debt-to-equity ratio of 0.94, a quick ratio of 1.48 and a current ratio of 1.48. The stock has a market cap of $5.58 billion, a PE ratio of -262.62 and a beta of 1.41. RadNet has a 1 year low of $50.82 and a 1 year high of $85.84.

RadNet (NASDAQ:RDNT) last announced its quarterly earnings results on Monday, August 10th. The medical research company reported $0.29 earnings per share for the quarter, beating analysts’ consensus estimates of $0.20 by $0.09. RadNet had a positive return on equity of 2.61% and a negative net margin of 0.93%. The business had revenue of $622.72 million during the quarter, compared to analysts’ expectations of $610.87 million. During the same quarter last year, the business posted $0.31 earnings per share. The business’s revenue for the quarter was up 25.0% on a year-over-year basis. Sell-side analysts forecast that RadNet will post 0.49 earnings per share for the current fiscal year.

Hedge Funds Weigh In On RadNet

Several hedge funds have recently bought and sold shares of the stock. Wedmont Private Capital acquired a new position in shares of RadNet in the third quarter worth $323,000. GAMMA Investing LLC boosted its stake in shares of RadNet by 10.6% during the third quarter. GAMMA Investing LLC now owns 2,321 shares of the medical research company’s stock valued at $160,000 after acquiring an additional 222 shares during the last quarter. Farther Finance Advisors LLC increased its position in RadNet by 60.2% during the 3rd quarter. Farther Finance Advisors LLC now owns 596 shares of the medical research company’s stock worth $41,000 after purchasing an additional 224 shares in the last quarter. Sequoia Financial Advisors LLC increased its position in RadNet by 1.9% during the 2nd quarter. Sequoia Financial Advisors LLC now owns 115,120 shares of the medical research company’s stock worth $7,099,000 after purchasing an additional 2,128 shares in the last quarter. Finally, Engineers Gate Manager LP acquired a new position in RadNet in the 2nd quarter valued at about $500,000. Hedge funds and other institutional investors own 77.90% of the company’s stock.

About RadNet

RadNet, Inc is an outpatient diagnostic imaging company that provides medical imaging services through a network of ambulatory imaging centers. Its services include magnetic resonance imaging (MRI), computed tomography (CT), positron emission tomography (PET/CT), mammography, ultrasound, X-ray, fluoroscopy and other diagnostic examinations.

The company serves patients, physicians, hospitals and health systems, with operations concentrated in several U.S. markets, including California, Delaware, Maryland, New Jersey and New York.