Shares of RadNet, Inc. (NASDAQ:RDNT – Get Free Report) have been given an average recommendation of “Buy” by the nine research firms that are presently covering the firm, Marketbeat.com reports. One investment analyst has rated the stock with a sell recommendation, five have given a buy recommendation and three have issued a strong buy recommendation on the company. The average 1-year target price among brokerages that have covered the stock in the last year is $90.00.
RDNT has been the topic of a number of recent research reports. Weiss Ratings reiterated a “sell (d-)” rating on shares of RadNet in a report on Friday, August 7th. Raymond James Financial reissued a “strong-buy” rating on shares of RadNet in a research report on Tuesday, September 22nd. Jefferies Financial Group restated a “buy” rating on shares of RadNet in a research note on Friday, July 31st. Barclays boosted their price target on shares of RadNet from $65.00 to $79.00 and gave the company an “overweight” rating in a research note on Friday, August 28th. Finally, Zacks Research upgraded shares of RadNet from a “hold” rating to a “strong-buy” rating in a report on Friday, October 9th.
Get Our Latest Stock Analysis on RDNT
Institutional Trading of RadNet
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in RDNT. Bank of America Corp DE grew its holdings in shares of RadNet by 15.1% in the first quarter. Bank of America Corp DE now owns 589,610 shares of the medical research company’s stock valued at $32,953,000 after acquiring an additional 77,198 shares in the last quarter. Edmond DE Rothschild Holding S.A. bought a new stake in RadNet during the second quarter worth $1,172,000. Legal & General Group Plc bought a new stake in RadNet during the second quarter worth $9,787,000. California State Teachers Retirement System lifted its holdings in RadNet by 25.4% during the first quarter. California State Teachers Retirement System now owns 77,646 shares of the medical research company’s stock worth $4,340,000 after acquiring an additional 15,746 shares during the period. Finally, Van Berkom & Associates Inc. boosted its position in RadNet by 24.9% in the first quarter. Van Berkom & Associates Inc. now owns 1,028,586 shares of the medical research company’s stock worth $57,488,000 after purchasing an additional 204,858 shares during the last quarter. 77.90% of the stock is owned by institutional investors.
RadNet Trading Up 0.1%
NASDAQ:RDNT opened at $73.18 on Wednesday. The company has a current ratio of 1.48, a quick ratio of 1.48 and a debt-to-equity ratio of 0.94. The stock has a market capitalization of $5.76 billion, a price-to-earnings ratio of 166.14 and a beta of 1.42. The firm has a fifty day simple moving average of $72.46 and a two-hundred day simple moving average of $65.30. RadNet has a 12 month low of $50.82 and a 12 month high of $85.84.
RadNet (NASDAQ:RDNT – Get Free Report) last announced its quarterly earnings results on Monday, August 10th. The medical research company reported $0.29 earnings per share (EPS) for the quarter, topping the consensus estimate 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 business had revenue of $622.72 million for the quarter, compared to analyst estimates of $610.87 million. During the same quarter in the prior year, the company earned $0.31 earnings per share. The company’s quarterly revenue was up 25.0% on a year-over-year basis. Analysts expect that RadNet will post 0.49 EPS for the current fiscal year.
About RadNet
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.
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