RadNet (NASDAQ:RDNT) Hits New 1-Year High at $60.78

Shares of RadNet, Inc. (NASDAQ:RDNT - Get Free Report) hit a new 52-week high during trading on Wednesday . The stock traded as high as $60.78 and last traded at $60.78, with a volume of 96753 shares. The stock had previously closed at $58.34.

Wall Street Analyst Weigh In

Several brokerages recently commented on RDNT. Barclays assumed coverage on shares of RadNet in a report on Wednesday, March 6th. They set an "equal weight" rating and a $48.00 target price for the company. Raymond James lifted their price objective on shares of RadNet from $50.00 to $60.00 and gave the stock an "outperform" rating in a research note on Friday, May 10th. Jefferies Financial Group lifted their price objective on shares of RadNet from $47.00 to $58.00 and gave the stock a "buy" rating in a research note on Friday, March 22nd. Truist Financial reiterated a "buy" rating and issued a $63.00 price objective (up previously from $55.00) on shares of RadNet in a research note on Wednesday, May 15th. Finally, StockNews.com cut shares of RadNet from a "hold" rating to a "sell" rating in a research note on Wednesday, May 15th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and three have issued a buy rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $57.25.

RadNet Stock Up 4.6 %

The firm's 50-day moving average price is $52.54 and its 200 day moving average price is $43.29. The company has a market capitalization of $4.51 billion, a price-to-earnings ratio of 203.50 and a beta of 1.76. The company has a current ratio of 1.86, a quick ratio of 1.86 and a debt-to-equity ratio of 0.76.

RadNet (NASDAQ:RDNT - Get Free Report) last issued its earnings results on Wednesday, May 8th. The medical research company reported $0.07 EPS for the quarter, beating the consensus estimate of ($0.09) by $0.16. The company had revenue of $431.70 million during the quarter, compared to analysts' expectations of $421.72 million. RadNet had a net margin of 1.28% and a return on equity of 5.05%. The business's revenue for the quarter was up 10.5% compared to the same quarter last year. During the same period in the previous year, the company earned ($0.08) EPS. On average, sell-side analysts forecast that RadNet, Inc. will post 0.59 EPS for the current fiscal year.

Hedge Funds Weigh In On RadNet

Several hedge funds and other institutional investors have recently made changes to their positions in RDNT. SG Americas Securities LLC grew its holdings in shares of RadNet by 8.7% during the 1st quarter. SG Americas Securities LLC now owns 3,637 shares of the medical research company's stock valued at $177,000 after purchasing an additional 291 shares during the last quarter. Arizona State Retirement System grew its holdings in shares of RadNet by 3.6% during the 3rd quarter. Arizona State Retirement System now owns 17,164 shares of the medical research company's stock valued at $484,000 after purchasing an additional 599 shares during the last quarter. Natixis Advisors L.P. grew its holdings in shares of RadNet by 5.6% during the 4th quarter. Natixis Advisors L.P. now owns 11,789 shares of the medical research company's stock valued at $409,000 after purchasing an additional 627 shares during the last quarter. Mutual of America Capital Management LLC grew its holdings in shares of RadNet by 6.2% during the 1st quarter. Mutual of America Capital Management LLC now owns 11,232 shares of the medical research company's stock valued at $547,000 after purchasing an additional 656 shares during the last quarter. Finally, Assetmark Inc. grew its holdings in shares of RadNet by 35.2% during the 4th quarter. Assetmark Inc. now owns 3,183 shares of the medical research company's stock valued at $111,000 after purchasing an additional 829 shares during the last quarter. 77.90% of the stock is currently owned by institutional investors and hedge funds.

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.