RadNet (NASDAQ:RDNT) Shares Gap Down – Should You Sell?

RadNet, Inc. (NASDAQ:RDNT)’s share price gapped down prior to trading on Friday . The stock had previously closed at $57.60, but opened at $50.00. RadNet shares last traded at $49.47, with a volume of 375,605 shares traded.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on RDNT. Truist Financial restated a “buy” rating and issued a $88.00 price objective (down from $94.00) on shares of RadNet in a report on Wednesday, January 22nd. Barclays cut their price objective on RadNet from $85.00 to $74.00 and set an “overweight” rating on the stock in a report on Wednesday, January 22nd. Finally, Jefferies Financial Group cut their price objective on RadNet from $100.00 to $80.00 and set a “buy” rating on the stock in a report on Wednesday, January 15th. One equities research analyst has rated the stock with a sell rating, four have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, RadNet currently has a consensus rating of “Moderate Buy” and a consensus target price of $75.50.

RadNet Trading Down 3.7 %

The firm has a market capitalization of $4.11 billion, a PE ratio of -792.32 and a beta of 1.79. 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 firm has a fifty day moving average of $65.43 and a 200 day moving average of $69.00.

RadNet (NASDAQ:RDNT) last announced its earnings results on Thursday, February 27th. The medical research company reported $0.22 EPS for the quarter, beating the consensus estimate of $0.21 by $0.01. The business had revenue of $477.10 million for the quarter, compared to the consensus estimate of $459.42 million. RadNet had a positive return on equity of 4.29% and a negative net margin of 0.25%. Equities research analysts expect that RadNet, Inc. will post 0.56 EPS for the current year.

Institutional Investors Weigh In On RadNet

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Virtue Capital Management LLC increased its holdings in RadNet by 6.4% during the 4th quarter. Virtue Capital Management LLC now owns 20,628 shares of the medical research company’s stock worth $1,441,000 after purchasing an additional 1,239 shares during the last quarter. Squarepoint Ops LLC purchased a new stake in RadNet during the 4th quarter worth approximately $3,407,000. Twinbeech Capital LP purchased a new stake in RadNet during the 4th quarter worth approximately $1,420,000. Two Sigma Advisers LP increased its holdings in RadNet by 217.1% during the 4th quarter. Two Sigma Advisers LP now owns 24,100 shares of the medical research company’s stock worth $1,683,000 after purchasing an additional 16,500 shares during the last quarter. Finally, Two Sigma Investments LP increased its holdings in RadNet by 46.0% during the 4th quarter. Two Sigma Investments LP now owns 81,065 shares of the medical research company’s stock worth $5,662,000 after purchasing an additional 25,529 shares during the last quarter. 77.90% of the stock is currently owned by hedge funds and other institutional investors.

About RadNet

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.