RadNet (NASDAQ:RDNT) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued on Friday, Zacks.com reports. The brokerage presently has a $18.00 price target on the medical research company’s stock. Zacks Investment Research‘s target price indicates a potential upside of 1.93% from the stock’s previous close.

According to Zacks, “RadNet, Inc., is a national market leader providing high-quality, cost-effective diagnostic imaging services through a network of fully-owned and operated outpatient imaging centers. RadNet offers to its patients and referring physicians the full spectrum of diagnostic imaging exams, including PET/CT, MRI, CT, Nuclear Medicine, Mammography, Ultrasound and X-ray, as well as numerous other procedures. RadNet utilizes best of breed technology to appropriately serve the medical communities in which it operates. “

A number of other research firms also recently issued reports on RDNT. Raymond James boosted their target price on shares of RadNet from $16.00 to $18.50 and gave the company an “outperform” rating in a research report on Wednesday, November 13th. BidaskClub downgraded shares of RadNet from a “buy” rating to a “hold” rating in a research report on Tuesday, October 29th. Finally, Sidoti boosted their target price on shares of RadNet from $18.00 to $20.00 and gave the company a “buy” rating in a research report on Wednesday, November 13th. Three investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. The stock presently has an average rating of “Hold” and an average price target of $18.83.

Shares of RadNet stock traded down $0.15 during midday trading on Friday, hitting $17.66. 100,091 shares of the company traded hands, compared to its average volume of 297,984. The stock has a market cap of $904.39 million, a price-to-earnings ratio of 26.80, a PEG ratio of 11.42 and a beta of 0.86. The company has a debt-to-equity ratio of 5.01, a quick ratio of 0.77 and a current ratio of 0.77. The firm’s fifty day moving average price is $15.31 and its 200-day moving average price is $14.24. RadNet has a 12 month low of $9.97 and a 12 month high of $18.44.

RadNet (NASDAQ:RDNT) last announced its quarterly earnings results on Tuesday, November 12th. The medical research company reported $0.06 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.11 by ($0.05). RadNet had a net margin of 3.02% and a return on equity of 16.52%. The company had revenue of $292.70 million for the quarter, compared to the consensus estimate of $283.39 million. During the same period last year, the firm posted $0.10 earnings per share. The company’s revenue for the quarter was up 20.9% compared to the same quarter last year. Equities research analysts forecast that RadNet will post 0.21 earnings per share for the current year.

In related news, Director John V. Crues sold 20,000 shares of the business’s stock in a transaction on Monday, November 18th. The shares were sold at an average price of $18.01, for a total transaction of $360,200.00. Following the transaction, the director now owns 414,097 shares in the company, valued at approximately $7,457,886.97. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 6.10% of the stock is owned by insiders.

A number of hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. grew its stake in shares of RadNet by 6.7% in the 2nd quarter. Vanguard Group Inc. now owns 2,058,540 shares of the medical research company’s stock worth $28,386,000 after acquiring an additional 128,738 shares in the last quarter. Dalton Greiner Hartman Maher & Co. lifted its holdings in shares of RadNet by 2.9% in the third quarter. Dalton Greiner Hartman Maher & Co. now owns 1,243,053 shares of the medical research company’s stock worth $17,850,000 after buying an additional 35,444 shares in the last quarter. Global Alpha Capital Management Ltd. lifted its holdings in shares of RadNet by 31.9% in the second quarter. Global Alpha Capital Management Ltd. now owns 1,183,429 shares of the medical research company’s stock worth $16,319,000 after buying an additional 286,281 shares in the last quarter. Cortina Asset Management LLC lifted its holdings in shares of RadNet by 32.5% in the second quarter. Cortina Asset Management LLC now owns 1,167,254 shares of the medical research company’s stock worth $16,096,000 after buying an additional 286,388 shares in the last quarter. Finally, Beck Mack & Oliver LLC lifted its holdings in shares of RadNet by 54.8% in the second quarter. Beck Mack & Oliver LLC now owns 1,065,134 shares of the medical research company’s stock worth $14,688,000 after buying an additional 376,981 shares in the last quarter. Institutional investors and hedge funds own 64.43% of the company’s stock.

About RadNet

RadNet, Inc, together with its subsidiaries, provides outpatient diagnostic imaging services in the United States. 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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