RadNet, Inc. (NASDAQ:RDNT) Given Average Rating of “Moderate Buy” by Brokerages

Shares of RadNet, Inc. (NASDAQ:RDNT) have been assigned an average rating of “Moderate Buy” from the nine brokerages that are currently covering the company, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating, five have issued a buy rating and two have assigned a strong buy rating to the company. The average twelve-month price target among analysts that have issued ratings on the stock in the last year is $90.3333.

Several equities analysts have recently commented on the stock. UBS Group set a $92.00 target price on shares of RadNet in a research report on Friday, January 9th. Zacks Research cut shares of RadNet from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, November 12th. Raymond James Financial restated a “strong-buy” rating on shares of RadNet in a research report on Thursday, December 18th. KeyCorp upgraded RadNet to a “strong-buy” rating in a research note on Friday, January 9th. Finally, The Goldman Sachs Group upgraded RadNet to a “buy” rating in a research note on Tuesday, December 16th.

RadNet Stock Down 1.6%

RDNT stock opened at $70.50 on Friday. RadNet has a 52 week low of $45.00 and a 52 week high of $85.84. The business has a 50-day simple moving average of $72.04 and a 200 day simple moving average of $73.65. The company has a quick ratio of 1.87, a current ratio of 1.87 and a debt-to-equity ratio of 0.82. The company has a market cap of $5.44 billion, a PE ratio of -414.68 and a beta of 1.49.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Geneos Wealth Management Inc. bought a new stake in RadNet during the 4th quarter worth approximately $25,000. Allworth Financial LP increased its holdings in RadNet by 346.6% in the third quarter. Allworth Financial LP now owns 393 shares of the medical research company’s stock valued at $30,000 after purchasing an additional 305 shares during the period. Danske Bank A S bought a new position in RadNet during the 3rd quarter worth $30,000. Farther Finance Advisors LLC lifted its holdings in RadNet by 1,086.5% during the 3rd quarter. Farther Finance Advisors LLC now owns 439 shares of the medical research company’s stock worth $33,000 after buying an additional 402 shares during the period. Finally, Jones Financial Companies Lllp lifted its holdings in RadNet by 62.2% during the 3rd quarter. Jones Financial Companies Lllp now owns 446 shares of the medical research company’s stock worth $34,000 after buying an additional 171 shares during the period. Institutional investors own 77.90% of the company’s stock.

RadNet Company Profile

RadNet, Inc is a leading independent provider of outpatient diagnostic imaging services in the United States. Through a nationwide network of fixed-site imaging centers and affiliated joint-venture locations, the company delivers a comprehensive suite of radiology services including MRI, CT, PET/CT, ultrasound, X-ray, mammography, bone densitometry, nuclear medicine and interventional radiology procedures. RadNet also offers teleradiology and imaging management solutions to physician practices, hospitals and healthcare systems.

Founded in 1981 and headquartered in Los Angeles, RadNet has expanded its footprint organically and through strategic acquisitions.