Several other brokerages have also issued reports on RDNT. BidaskClub lowered shares of RadNet from a “strong-buy” rating to a “buy” rating in a report on Tuesday, March 17th. Sidoti boosted their price target on shares of RadNet from $23.00 to $28.00 and gave the company a “buy” rating in a report on Friday, February 21st. Finally, Zacks Investment Research raised shares of RadNet from a “hold” rating to a “buy” rating and set a $9.75 price target for the company in a report on Wednesday. One investment analyst has rated the stock with a hold rating and three have assigned a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average target price of $18.88.
RDNT opened at $11.54 on Wednesday. The company has a fifty day moving average price of $18.46 and a two-hundred day moving average price of $17.90. The company has a debt-to-equity ratio of 4.62, a quick ratio of 0.74 and a current ratio of 0.74. RadNet has a 52 week low of $5.81 and a 52 week high of $23.45. The firm has a market capitalization of $471.96 million, a PE ratio of 39.79 and a beta of 0.93.
RadNet (NASDAQ:RDNT) last released its earnings results on Thursday, March 12th. The medical research company reported $0.21 EPS for the quarter, topping analysts’ consensus estimates of $0.15 by $0.06. RadNet had a net margin of 1.28% and a return on equity of 7.32%. The firm had revenue of $300.80 million during the quarter, compared to analyst estimates of $294.16 million. During the same quarter in the previous year, the business earned $0.59 EPS. The business’s quarterly revenue was up 16.9% compared to the same quarter last year. Equities analysts forecast that RadNet will post 0.53 EPS for the current year.
In other news, insider B. Kaplan Survivor’s Tru Karen purchased 10,000 shares of the firm’s stock in a transaction dated Wednesday, March 18th. The stock was bought at an average price of $5.99 per share, with a total value of $59,900.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 6.10% of the stock is owned by insiders.
Several hedge funds have recently made changes to their positions in the company. California State Teachers Retirement System lifted its position in RadNet by 1.2% in the 3rd quarter. California State Teachers Retirement System now owns 65,480 shares of the medical research company’s stock valued at $940,000 after acquiring an additional 782 shares in the last quarter. California Public Employees Retirement System lifted its position in RadNet by 18.2% during the 3rd quarter. California Public Employees Retirement System now owns 70,187 shares of the medical research company’s stock worth $1,008,000 after buying an additional 10,800 shares in the last quarter. Zebra Capital Management LLC lifted its position in RadNet by 35.5% during the 3rd quarter. Zebra Capital Management LLC now owns 14,077 shares of the medical research company’s stock worth $203,000 after buying an additional 3,691 shares in the last quarter. State Street Corp lifted its position in RadNet by 4.1% during the 3rd quarter. State Street Corp now owns 889,809 shares of the medical research company’s stock worth $12,778,000 after buying an additional 35,430 shares in the last quarter. Finally, Citigroup Inc. lifted its position in RadNet by 1,653.5% during the 4th quarter. Citigroup Inc. now owns 96,864 shares of the medical research company’s stock worth $1,966,000 after buying an additional 91,340 shares in the last quarter. 72.14% of the stock is owned by institutional investors.
RadNet, Inc, together with its subsidiaries, provides outpatient diagnostic imaging services in the United States. 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.
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