RadNet (NASDAQ:RDNT) Receives “Buy” Rating from Truist Financial

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

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

RadNet Stock Up 0.7 %

RDNT traded up $0.32 on Thursday, hitting $48.81. 134,967 shares of the company were exchanged, compared to its average volume of 540,678. RadNet has a 12 month low of $23.85 and a 12 month high of $49.41. The company has a debt-to-equity ratio of 1.00, a quick ratio of 1.32 and a current ratio of 1.32. The stock’s fifty day moving average is $41.11 and its 200-day moving average is $34.95. The company has a market cap of $3.34 billion, a PE ratio of -2,438.28 and a beta of 1.66.

RadNet (NASDAQ:RDNT) last posted its earnings results on Friday, March 1st. The medical research company reported $0.20 EPS for the quarter, topping analysts’ consensus estimates of $0.11 by $0.09. The firm had revenue of $420.38 million during the quarter, compared to analysts’ expectations of $410.11 million. RadNet had a net margin of 0.19% and a return on equity of 4.72%. The business’s revenue for the quarter was up 9.5% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.11 earnings per share. Equities research analysts predict that RadNet will post 0.36 EPS for the current fiscal year.

Institutional Trading of RadNet

Several hedge funds have recently made changes to their positions in the company. Bank of New York Mellon Corp boosted its holdings in shares of RadNet by 2.5% in the first quarter. Bank of New York Mellon Corp now owns 398,943 shares of the medical research company’s stock worth $8,924,000 after acquiring an additional 9,850 shares during the period. Citigroup Inc. grew its position in shares of RadNet by 4.9% in the 1st quarter. Citigroup Inc. now owns 117,645 shares of the medical research company’s stock worth $2,632,000 after buying an additional 5,448 shares during the last quarter. MetLife Investment Management LLC grew its position in RadNet by 55.7% during the 1st quarter. MetLife Investment Management LLC now owns 25,554 shares of the medical research company’s stock valued at $572,000 after purchasing an additional 9,142 shares during the last quarter. Rhumbline Advisers raised its holdings in RadNet by 9.2% in the 1st quarter. Rhumbline Advisers now owns 115,282 shares of the medical research company’s stock worth $2,579,000 after acquiring an additional 9,760 shares during the last quarter. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its holdings in shares of RadNet by 19.9% during the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 40,190 shares of the medical research company’s stock valued at $899,000 after purchasing an additional 6,668 shares in the last quarter. 77.90% of the stock is currently owned by institutional investors.

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.