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

RadNet (NASDAQ:RDNT) was upgraded by stock analysts at Raymond James from an “outperform” rating to a “strong-buy” rating in a research report issued to clients and investors on Wednesday, MarketBeat Ratings reports. The firm presently has a $65.00 target price on the medical research company’s stock, down from their previous target price of $85.00. Raymond James’ target price indicates a potential upside of 25.41% from the company’s current price.

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

RadNet Trading Up 1.9 %

Shares of NASDAQ RDNT opened at $51.83 on Wednesday. The firm’s 50 day moving average price is $64.56 and its 200-day moving average price is $68.91. RadNet has a 52-week low of $42.45 and a 52-week high of $93.65. 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 market cap of $3.84 billion, a PE ratio of -740.32 and a beta of 1.79.

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

Institutional Investors Weigh In On RadNet

Large investors have recently made changes to their positions in the company. Virtue Capital Management LLC lifted its stake in shares of RadNet by 6.4% in the 4th quarter. Virtue Capital Management LLC now owns 20,628 shares of the medical research company’s stock worth $1,441,000 after purchasing an additional 1,239 shares during the period. Squarepoint Ops LLC purchased a new stake in RadNet during the fourth quarter valued at approximately $3,407,000. Twinbeech Capital LP bought a new position in RadNet in the fourth quarter worth approximately $1,420,000. Two Sigma Advisers LP boosted its stake in shares of RadNet by 217.1% during the 4th quarter. Two Sigma Advisers LP now owns 24,100 shares of the medical research company’s stock worth $1,683,000 after acquiring an additional 16,500 shares during the last quarter. Finally, Two Sigma Investments LP grew its position in shares of RadNet by 46.0% during the 4th quarter. Two Sigma Investments LP now owns 81,065 shares of the medical research company’s stock valued at $5,662,000 after acquiring an additional 25,529 shares during the period. 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.