RadNet (NASDAQ:RDNT) Rating Increased to Strong-Buy at Raymond James

RadNet (NASDAQ:RDNT) was upgraded by stock analysts at Raymond James from an “outperform” rating to a “strong-buy” rating in a research note issued to investors on Wednesday, MarketBeat.com reports. The firm presently has a $65.00 price objective on the medical research company’s stock, down from their previous price objective of $85.00. Raymond James’ target price points to a potential upside of 25.41% from the stock’s current price.

A number of other research firms have also recently issued reports on RDNT. Truist Financial restated a “buy” rating and set a $88.00 price objective (down previously from $94.00) on shares of RadNet in a report on Wednesday, January 22nd. Jefferies Financial Group reduced their price target on shares of RadNet from $100.00 to $80.00 and set a “buy” rating on the stock in a research note on Wednesday, January 15th. Finally, Barclays lowered their price objective on shares of RadNet from $85.00 to $74.00 and set an “overweight” rating for the company in a research report on Wednesday, January 22nd. One research analyst has rated the stock with a sell rating, three have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus target price of $76.75.

RadNet Trading Up 1.9 %

Shares of RDNT stock opened at $51.83 on Wednesday. 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 stock has a fifty day simple moving average of $64.56 and a two-hundred day simple moving average of $68.91. The firm has a market capitalization of $3.84 billion, a PE ratio of -740.32 and a beta of 1.79. RadNet has a 52-week low of $42.45 and a 52-week high of $93.65.

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

Institutional Trading of RadNet

Hedge funds have recently added to or reduced their stakes in the business. HighTower Advisors LLC boosted its position in RadNet by 1.8% during the third quarter. HighTower Advisors LLC now owns 7,861 shares of the medical research company’s stock valued at $545,000 after purchasing an additional 136 shares in the last quarter. Chartwell Investment Partners LLC lifted its position in shares of RadNet by 0.8% during the third quarter. Chartwell Investment Partners LLC now owns 24,883 shares of the medical research company’s stock valued at $1,726,000 after buying an additional 193 shares during the last quarter. Highland Capital Management LLC boosted its holdings in shares of RadNet by 6.5% in the 4th quarter. Highland Capital Management LLC now owns 3,307 shares of the medical research company’s stock valued at $231,000 after buying an additional 202 shares in the last quarter. Summit Investment Advisors Inc. grew its position in shares of RadNet by 3.3% in the 4th quarter. Summit Investment Advisors Inc. now owns 6,917 shares of the medical research company’s stock worth $483,000 after buying an additional 219 shares during the last quarter. Finally, Summit Financial LLC raised its stake in shares of RadNet by 2.4% during the 4th quarter. Summit Financial LLC now owns 11,111 shares of the medical research company’s stock worth $776,000 after acquiring an additional 262 shares in the last quarter. 77.90% of the stock is 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.