RadNet’s (RDNT) Buy Rating Reaffirmed at Truist Financial

RadNet (NASDAQ:RDNT)‘s stock had its “buy” rating reissued by investment analysts at Truist Financial in a report released on Thursday, Benzinga reports. They currently have a $55.00 target price on the medical research company’s stock, up from their previous target price of $51.00. Truist Financial’s target price would indicate a potential upside of 12.68% from the company’s current price.

A number of other brokerages have also recently commented on RDNT. Barclays assumed coverage on RadNet in a report on Wednesday, March 6th. They set an “equal weight” rating and a $48.00 target price for the company. StockNews.com raised RadNet from a “sell” rating to a “hold” rating in a research note on Wednesday, March 20th. Finally, Jefferies Financial Group lifted their target price on shares of RadNet from $47.00 to $58.00 and gave the stock a “buy” rating in a research note on Friday, March 22nd. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, RadNet presently has an average rating of “Moderate Buy” and an average target price of $47.75.

RadNet Trading Up 0.7 %

RDNT traded up $0.32 during trading hours on Thursday, reaching $48.81. 134,967 shares of the company’s stock traded hands, compared to its average volume of 540,678. The company has a quick ratio of 1.32, a current ratio of 1.32 and a debt-to-equity ratio of 1.00. The firm has a market capitalization of $3.34 billion, a PE ratio of -2,438.28 and a beta of 1.66. The firm has a 50-day moving average price of $41.11 and a 200 day moving average price of $34.95. RadNet has a 52-week low of $23.85 and a 52-week high of $49.41.

RadNet (NASDAQ:RDNT) last issued its quarterly earnings data on Friday, March 1st. The medical research company reported $0.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.11 by $0.09. The business had revenue of $420.38 million during the quarter, compared to analysts’ expectations of $410.11 million. RadNet had a return on equity of 4.72% and a net margin of 0.19%. The company’s revenue for the quarter was up 9.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.11 EPS. As a group, sell-side analysts predict that RadNet will post 0.36 EPS for the current fiscal year.

Institutional Investors Weigh In On RadNet

A number of hedge funds have recently modified their holdings of the company. Tower Research Capital LLC TRC boosted its holdings in RadNet by 84.3% in the 1st quarter. Tower Research Capital LLC TRC now owns 1,078 shares of the medical research company’s stock valued at $27,000 after purchasing an additional 493 shares during the last quarter. UBS Group AG lifted its holdings in RadNet by 48.8% in the third quarter. UBS Group AG now owns 2,645 shares of the medical research company’s stock valued at $54,000 after acquiring an additional 867 shares during the last quarter. Cubist Systematic Strategies LLC grew its position in RadNet by 180.8% in the second quarter. Cubist Systematic Strategies LLC now owns 3,443 shares of the medical research company’s stock worth $59,000 after acquiring an additional 2,217 shares during the period. Assetmark Inc. increased its stake in RadNet by 51.6% during the third quarter. Assetmark Inc. now owns 2,354 shares of the medical research company’s stock worth $66,000 after acquiring an additional 801 shares during the last quarter. Finally, Lazard Asset Management LLC purchased a new stake in RadNet in the third quarter valued at $69,000. Hedge funds and other institutional investors own 77.90% of the company’s stock.

RadNet Company Profile

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.