StockNews.com Downgrades RadNet (NASDAQ:RDNT) to Sell

StockNews.com lowered shares of RadNet (NASDAQ:RDNT) from a hold rating to a sell rating in a report issued on Wednesday.

Several other equities research analysts have also recently commented on RDNT. Barclays began coverage on RadNet in a report on Wednesday, March 6th. They issued an equal weight rating and a $48.00 price target for the company. Truist Financial reaffirmed a buy rating and issued a $55.00 target price (up from $51.00) on shares of RadNet in a research note on Thursday, March 28th. Raymond James boosted their price target on shares of RadNet from $50.00 to $60.00 and gave the company an outperform rating in a research report on Friday, May 10th. Finally, Jefferies Financial Group raised 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. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and three have assigned a buy rating to the company. According to MarketBeat, the stock has a consensus rating of Hold and a consensus target price of $57.25.

RadNet Trading Down 0.2 %

Shares of RDNT stock opened at $57.45 on Wednesday. The stock has a 50 day simple moving average of $49.09 and a 200-day simple moving average of $40.33. RadNet has a 1-year low of $25.11 and a 1-year high of $58.59. The company has a market cap of $4.24 billion, a price-to-earnings ratio of 191.50 and a beta of 1.69. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.86 and a quick ratio of 1.32.

RadNet (NASDAQ:RDNT) last posted its quarterly earnings data on Wednesday, May 8th. The medical research company reported $0.07 EPS for the quarter, topping the consensus estimate of ($0.09) by $0.16. RadNet had a return on equity of 5.05% and a net margin of 1.28%. The company had revenue of $431.70 million during the quarter, compared to analyst estimates of $421.72 million. During the same period in the previous year, the business earned ($0.08) EPS. RadNet’s quarterly revenue was up 10.5% on a year-over-year basis. On average, equities research analysts expect that RadNet will post 0.59 EPS for the current fiscal year.

Institutional Trading of RadNet

Hedge funds and other institutional investors have recently modified their holdings of the business. RTW Investments LP acquired a new stake in shares of RadNet during the fourth quarter valued at about $23,073,000. Loomis Sayles & Co. L P acquired a new stake in RadNet in the 3rd quarter valued at approximately $18,477,000. Wellington Management Group LLP purchased a new stake in RadNet in the third quarter valued at approximately $17,534,000. Clearbridge Investments LLC acquired a new position in RadNet during the first quarter worth $26,617,000. Finally, 8 Knots Management LLC purchased a new position in shares of RadNet during the first quarter worth $20,273,000. 77.90% of the stock is owned by institutional investors and hedge funds.

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.