RadNet (NASDAQ:RDNT) Upgraded by Raymond James to Strong-Buy Rating

Raymond James upgraded shares of RadNet (NASDAQ:RDNT) from an outperform rating to a strong-buy rating in a research report sent to investors on Wednesday, MarketBeat reports. They currently have $65.00 price objective on the medical research company’s stock, down from their previous price objective of $85.00.

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

RadNet Stock Performance

Shares of RDNT stock opened at $53.09 on Wednesday. The company has a market capitalization of $3.93 billion, a price-to-earnings ratio of -758.32 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 company has a 50-day simple moving average of $64.15 and a 200 day simple moving average of $68.80. RadNet has a 52 week low of $42.45 and a 52 week high of $93.65.

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

Institutional Trading of RadNet

A number of institutional investors and hedge funds have recently made changes to their positions in RDNT. Wealth Enhancement Advisory Services LLC bought a new stake in shares of RadNet during the 3rd quarter worth approximately $389,000. Nisa Investment Advisors LLC increased its position in RadNet by 321.6% during the 3rd quarter. Nisa Investment Advisors LLC now owns 3,575 shares of the medical research company’s stock worth $248,000 after purchasing an additional 2,727 shares in the last quarter. Hanseatic Management Services Inc. increased its position in RadNet by 4.4% during the 3rd quarter. Hanseatic Management Services Inc. now owns 20,851 shares of the medical research company’s stock worth $1,447,000 after purchasing an additional 883 shares in the last quarter. Principal Financial Group Inc. increased its position in RadNet by 8.5% during the 3rd quarter. Principal Financial Group Inc. now owns 1,506,545 shares of the medical research company’s stock worth $104,539,000 after purchasing an additional 118,501 shares in the last quarter. Finally, Covestor Ltd increased its position in RadNet by 10,875.0% during the 3rd quarter. Covestor Ltd now owns 439 shares of the medical research company’s stock worth $30,000 after purchasing an additional 435 shares in the last quarter. 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.