RadNet’s (RDNT) Buy Rating Reaffirmed at Truist Financial

Truist Financial reissued their buy rating on shares of RadNet (NASDAQ:RDNT) in a research note released on Wednesday, Benzinga reports. The brokerage currently has a $63.00 price objective on the medical research company’s stock, up from their prior price objective of $55.00.

A number of other analysts have also recently commented on RDNT. Jefferies Financial Group upped their price target on RadNet from $47.00 to $58.00 and gave the company a buy rating in a research note on Friday, March 22nd. Barclays initiated 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. Raymond James raised their target price on shares of RadNet from $50.00 to $60.00 and gave the stock an outperform rating in a report on Friday, May 10th. Finally, StockNews.com cut shares of RadNet from a hold rating to a sell rating in a report on Wednesday. One analyst has rated the stock with a sell rating, one has assigned a hold rating and three have given a buy rating to the company. According to MarketBeat, RadNet currently has an average rating of Hold and an average price target of $57.25.

RadNet Trading Down 1.1 %

Shares of NASDAQ RDNT traded down $0.66 during midday trading on Wednesday, hitting $57.58. The stock had a trading volume of 104,050 shares, compared to its average volume of 520,856. The company’s 50-day simple moving average is $48.90 and its 200 day simple moving average is $40.20. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.86 and a quick ratio of 1.32. The firm has a market cap of $4.25 billion, a P/E ratio of 192.20 and a beta of 1.69. RadNet has a fifty-two week low of $25.11 and a fifty-two week high of $58.52.

RadNet (NASDAQ:RDNT) last posted its quarterly earnings results on Wednesday, May 8th. The medical research company reported $0.07 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.09) by $0.16. RadNet had a net margin of 1.28% and a return on equity of 5.05%. The business had revenue of $431.70 million during the quarter, compared to the consensus estimate of $421.72 million. During the same period in the previous year, the firm posted ($0.08) earnings per share. RadNet’s revenue for the quarter was up 10.5% compared to the same quarter last year. Research analysts anticipate that RadNet will post 0.52 EPS for the current year.

Institutional Investors Weigh In On RadNet

Several large investors have recently made changes to their positions in RDNT. Janus Henderson Group PLC boosted its holdings in shares of RadNet by 108.6% during the 1st quarter. Janus Henderson Group PLC now owns 64,029 shares of the medical research company’s stock worth $3,112,000 after buying an additional 33,335 shares during the period. Robotti Robert grew its position in shares of RadNet by 0.4% in the first quarter. Robotti Robert now owns 291,083 shares of the medical research company’s stock valued at $14,164,000 after purchasing an additional 1,070 shares during the last quarter. Bamco Inc. NY bought a new position in shares of RadNet during the first quarter worth approximately $973,000. Price T Rowe Associates Inc. MD lifted its holdings in RadNet by 6.8% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 35,054 shares of the medical research company’s stock worth $1,706,000 after purchasing an additional 2,222 shares during the last quarter. Finally, Hood River Capital Management LLC boosted its stake in RadNet by 7.8% in the 1st quarter. Hood River Capital Management LLC now owns 1,071,129 shares of the medical research company’s stock valued at $52,121,000 after purchasing an additional 77,244 shares during the period. Institutional investors and hedge funds own 77.90% of the company’s stock.

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.