RadNet, Inc. (NASDAQ:RDNT) Stock Has Consensus Price Target of $90.00

RadNet, Inc. (NASDAQ:RDNT) has been given an average rating of “Buy” by the nine research firms that are presently covering the firm, Marketbeat.com reports. One equities research analyst has rated the stock with a sell rating, five have given a buy rating and three have given a strong buy rating to the company. The average 12-month price target among brokerages that have issued ratings on the stock in the last year is $90.00.

RDNT has been the topic of several research reports. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of RadNet in a report on Friday, August 7th. Raymond James Financial reiterated a “strong-buy” rating on shares of RadNet in a research note on Tuesday, September 22nd. Zacks Research raised RadNet from a “hold” rating to a “strong-buy” rating in a report on Friday, October 9th. Barclays increased their price objective on RadNet from $65.00 to $79.00 and gave the stock an “overweight” rating in a research report on Friday, August 28th. Finally, Truist Financial raised their target price on shares of RadNet from $90.00 to $94.00 and gave the stock a “buy” rating in a research report on Tuesday, August 11th.

RadNet Price Performance

RDNT stock opened at $73.49 on Wednesday. The firm’s 50-day moving average is $72.56 and its two-hundred day moving average is $65.30. The company has a current ratio of 1.48, a quick ratio of 1.48 and a debt-to-equity ratio of 0.94. RadNet has a 52 week low of $50.82 and a 52 week high of $85.84. The company has a market capitalization of $5.78 billion, a price-to-earnings ratio of -272.18 and a beta of 1.42.

RadNet (NASDAQ:RDNT) last released 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 firm had revenue of $622.72 million during the quarter, compared to analysts’ expectations of $610.87 million. During the same period last year, the firm posted $0.31 EPS. The business’s revenue was up 25.0% on a year-over-year basis. On average, analysts forecast that RadNet will post 0.49 earnings per share for the current fiscal year.

Hedge Funds Weigh In On RadNet

A number of large investors have recently made changes to their positions in the business. Farther Finance Advisors LLC grew its position in RadNet by 60.2% during the third quarter. Farther Finance Advisors LLC now owns 596 shares of the medical research company’s stock worth $41,000 after buying an additional 224 shares in the last quarter. Parallel Advisors LLC lifted its holdings in RadNet by 80.0% during the 1st quarter. Parallel Advisors LLC now owns 1,114 shares of the medical research company’s stock worth $62,000 after purchasing an additional 495 shares during the last quarter. Leonteq Securities AG lifted its position in shares of RadNet by 4,651.2% during the 1st quarter. Leonteq Securities AG now owns 2,043 shares of the medical research company’s stock worth $114,000 after buying an additional 2,000 shares during the last quarter. Nykredit A S bought a new stake in shares of RadNet in the 2nd quarter valued at about $153,000. Finally, GAMMA Investing LLC increased its holdings 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 in the last quarter. Institutional investors and hedge funds own 77.90% of the company’s stock.

RadNet Company Profile

RadNet, Inc (NASDAQ: RDNT) is an outpatient diagnostic imaging company that operates imaging centers and provides related healthcare services. Its facilities offer diagnostic radiology and imaging procedures used to help detect, diagnose, and monitor medical conditions.

The company’s services generally include magnetic resonance imaging (MRI), computed tomography (CT), positron emission tomography (PET), mammography, ultrasound, X-ray, and other imaging procedures. RadNet also provides image-guided and interventional radiology services in selected markets, along with digital imaging, radiology, and information-technology solutions.

Founded in 1981, RadNet serves patients, physicians, hospitals, and other healthcare organizations through a network of outpatient imaging centers primarily located in the United States, including markets in California, New York, New Jersey, Maryland, and Delaware.