RadNet (NASDAQ:RDNT) Stock Rating Upgraded by Raymond James

Raymond James upgraded shares of RadNet (NASDAQ:RDNT) from an outperform rating to a strong-buy rating in a report issued on Wednesday morning, Marketbeat Ratings reports. The firm currently has $65.00 target price on the medical research company’s stock, down from their prior target price of $85.00.

RDNT has been the topic of a number of other reports. Truist Financial reaffirmed a “buy” rating and issued a $88.00 price objective (down from $94.00) on shares of RadNet in a research note on Wednesday, January 22nd. Jefferies Financial Group cut their target price on shares of RadNet from $100.00 to $80.00 and set a “buy” rating on the stock in a research note on Wednesday, January 15th. Finally, Barclays cut their target price on shares of RadNet from $85.00 to $74.00 and set an “overweight” rating on the stock in a research note on Wednesday, January 22nd. One analyst has rated the stock with a sell rating, three have assigned a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, RadNet currently has a consensus rating of “Buy” and a consensus price target of $76.75.

RadNet Trading Up 2.4 %

Shares of NASDAQ RDNT opened at $53.09 on Wednesday. The company has a debt-to-equity ratio of 0.89, a quick ratio of 2.16 and a current ratio of 2.16. RadNet has a 52-week low of $42.45 and a 52-week high of $93.65. The firm has a 50 day moving average price of $64.15 and a two-hundred day moving average price of $68.80. The stock has a market cap of $3.93 billion, a P/E ratio of -758.32 and a beta of 1.79.

RadNet (NASDAQ:RDNT) last posted its quarterly earnings data on Thursday, February 27th. The medical research company reported $0.22 EPS for the quarter, beating 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 for the quarter, compared to analyst estimates of $459.42 million. As a group, equities analysts forecast that RadNet will post 0.56 EPS for the current year.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. USA Financial Formulas bought a new position in shares of RadNet in the fourth quarter valued at $30,000. Covestor Ltd raised its holdings in shares of RadNet by 10,875.0% in the third quarter. Covestor Ltd now owns 439 shares of the medical research company’s stock valued at $30,000 after purchasing an additional 435 shares during the last quarter. Fifth Third Bancorp raised its holdings in shares of RadNet by 84.3% in the fourth quarter. Fifth Third Bancorp now owns 667 shares of the medical research company’s stock valued at $47,000 after purchasing an additional 305 shares during the last quarter. Peterson Financial Group Inc. purchased a new stake in shares of RadNet in the third quarter valued at about $90,000. Finally, Smartleaf Asset Management LLC raised its holdings in shares of RadNet by 377.0% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,345 shares of the medical research company’s stock valued at $96,000 after purchasing an additional 1,063 shares during the last quarter. 77.90% of the stock is owned by institutional investors.

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.