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

RadNet, Inc. (NASDAQ:RDNT) has been assigned a consensus recommendation of “Moderate Buy” from the nine research firms that are covering the firm, Marketbeat.com reports. One research analyst has rated the stock with a sell rating, one has given a hold rating, five have issued a buy rating and two have issued a strong buy rating on the company. The average 12-month price objective among brokerages that have updated their coverage on the stock in the last year is $90.00.

A number of research analysts recently issued reports on the company. Zacks Research upgraded RadNet from a “strong sell” rating to a “hold” rating in a research note on Thursday, August 13th. Weiss Ratings restated a “sell (d-)” rating on shares of RadNet in a research note on Friday, August 7th. 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 note on Tuesday, August 11th. Jefferies Financial Group reaffirmed a “buy” rating on shares of RadNet in a report on Friday, July 31st. Finally, Raymond James Financial reiterated a “strong-buy” rating on shares of RadNet in a research report on Tuesday, September 22nd.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. BlackRock Inc. purchased a new stake in RadNet in the 2nd quarter worth $675,768,000. Geode Capital Management LLC raised its holdings in RadNet by 0.4% during the fourth quarter. Geode Capital Management LLC now owns 1,671,543 shares of the medical research company’s stock valued at $119,283,000 after acquiring an additional 6,655 shares during the period. JB Capital Partners LP purchased a new position in shares of RadNet in the second quarter valued at about $87,821,842. Bamco Inc. NY purchased a new position in shares of RadNet in the second quarter valued at about $77,765,000. Finally, Dimensional Fund Advisors LP boosted its stake in shares of RadNet by 1.4% in the first quarter. Dimensional Fund Advisors LP now owns 1,379,003 shares of the medical research company’s stock worth $77,074,000 after acquiring an additional 19,188 shares during the period. Hedge funds and other institutional investors own 77.90% of the company’s stock.

RadNet Price Performance

Shares of RadNet stock opened at $68.61 on Friday. RadNet has a one year low of $50.82 and a one year high of $85.84. The stock’s fifty day moving average is $73.12 and its 200 day moving average is $63.39. The stock has a market cap of $5.40 billion, a P/E ratio of -254.10 and a beta of 1.41. The company has a debt-to-equity ratio of 0.94, a quick ratio of 1.48 and a current ratio of 1.48.

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

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.