RadNet, Inc. (NASDAQ:RDNT) Stock Has Consensus Target Price of $90.00

RadNet, Inc. (NASDAQ:RDNT) has received a consensus recommendation of “Buy” from the nine ratings firms that are presently covering the stock, MarketBeat reports. One research analyst has rated the stock with a sell recommendation, five have given a buy recommendation and three have given a strong buy recommendation to the company. The average 1 year target price among analysts that have issued ratings on the stock in the last year is $90.00.

Several research firms recently commented on RDNT. Zacks Research upgraded RadNet from a “hold” rating to a “strong-buy” rating in a research note on Friday, October 9th. Truist Financial upped their target price on RadNet from $90.00 to $94.00 and gave the company a “buy” rating in a research report on Tuesday, August 11th. Raymond James Financial reaffirmed a “strong-buy” rating on shares of RadNet in a report on Tuesday, September 22nd. Weiss Ratings reiterated a “sell (d-)” rating on shares of RadNet in a research note on Friday, August 7th. Finally, Barclays raised their price objective on shares of RadNet from $65.00 to $79.00 and gave the stock an “overweight” rating in a report on Friday, August 28th.

RadNet Price Performance

Shares of NASDAQ RDNT opened at $73.49 on Wednesday. The business has a 50-day moving average of $72.56 and a 200-day moving average of $65.30. The company has a market capitalization of $5.78 billion, a price-to-earnings ratio of 167.39 and a beta of 1.41. The company has a debt-to-equity ratio of 0.94, a current ratio of 1.48 and a quick ratio of 1.48. RadNet has a 1-year low of $50.82 and a 1-year high of $85.84.

RadNet (NASDAQ:RDNT) last announced its earnings results on Monday, August 10th. The medical research company reported $0.29 earnings per share for the quarter, beating the consensus estimate of $0.20 by $0.09. The business had revenue of $622.72 million during the quarter, compared to the consensus estimate of $610.87 million. RadNet had a negative net margin of 0.93% and a positive return on equity of 2.61%. The business’s quarterly revenue was up 25.0% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.31 earnings per share. On average, equities analysts anticipate that RadNet will post 0.49 EPS for the current fiscal year.

Institutional Trading of RadNet

Hedge funds and other institutional investors have recently bought and sold shares of the company. Farther Finance Advisors LLC increased its position in RadNet by 60.2% in the 3rd quarter. Farther Finance Advisors LLC now owns 596 shares of the medical research company’s stock valued at $41,000 after acquiring an additional 224 shares during the period. Parallel Advisors LLC raised its stake in RadNet by 80.0% during the 1st quarter. Parallel Advisors LLC now owns 1,114 shares of the medical research company’s stock valued at $62,000 after acquiring an additional 495 shares in the last quarter. Leonteq Securities AG raised its stake in RadNet by 4,651.2% during the 1st quarter. Leonteq Securities AG now owns 2,043 shares of the medical research company’s stock valued at $114,000 after acquiring an additional 2,000 shares in the last quarter. Nykredit A S bought a new position in shares of RadNet in the second quarter worth $153,000. Finally, GAMMA Investing LLC grew its stake in shares of RadNet by 10.6% in the third quarter. GAMMA Investing LLC now owns 2,321 shares of the medical research company’s stock worth $160,000 after purchasing an additional 222 shares in the last quarter. 77.90% of the stock is owned by institutional investors.

About RadNet

RadNet, Inc (NASDAQ: RDNT) is an outpatient diagnostic imaging company that operates imaging centers and provides related healthcare services. Its facilities offer diagnostic radiology and imaging procedures used to help detect, diagnose, and monitor medical conditions.

The company’s services generally include magnetic resonance imaging (MRI), computed tomography (CT), positron emission tomography (PET), mammography, ultrasound, X-ray, and other imaging procedures. RadNet also provides image-guided and interventional radiology services in selected markets, along with digital imaging, radiology, and information-technology solutions.

Founded in 1981, RadNet serves patients, physicians, hospitals, and other healthcare organizations through a network of outpatient imaging centers primarily located in the United States, including markets in California, New York, New Jersey, Maryland, and Delaware.