RadNet (NASDAQ:RDNT) Shares Down 6% - Should You Sell?

Shares of RadNet, Inc. (NASDAQ:RDNT - Get Free Report) fell 6% on Monday . The stock traded as low as $52.54 and last traded at $52.17. 104,869 shares were traded during trading, a decline of 87% from the average session volume of 827,427 shares. The stock had previously closed at $55.47.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the company. Truist Financial reaffirmed a "buy" rating and set a $88.00 price target (down previously from $94.00) on shares of RadNet in a research report on Wednesday, January 22nd. Raymond James upgraded RadNet from an "outperform" rating to a "strong-buy" rating and reduced their price objective for the company from $85.00 to $65.00 in a research note on Wednesday. Barclays reduced their price objective on RadNet from $85.00 to $74.00 and set an "overweight" rating for the company in a research note on Wednesday, January 22nd. Finally, Jefferies Financial Group reduced their price objective on RadNet from $100.00 to $80.00 and set a "buy" rating for the company in a research note on Wednesday, January 15th. One equities research analyst has rated the stock with a sell rating, three have assigned a buy rating and two have issued a strong buy rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Buy" and a consensus price target of $76.75.

RadNet Price Performance

The company has a debt-to-equity ratio of 0.89, a current ratio of 2.16 and a quick ratio of 2.16. The company has a 50 day moving average price of $63.73 and a 200 day moving average price of $68.68. The firm has a market cap of $3.82 billion, a PE ratio of -736.75 and a beta of 1.79.

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RadNet (NASDAQ:RDNT - Get Free Report) last released its quarterly earnings results on Thursday, February 27th. The medical research company reported $0.22 EPS for the quarter, topping the consensus estimate of $0.21 by $0.01. RadNet had a positive return on equity of 4.29% and a negative net margin of 0.25%. The business had revenue of $477.10 million during the quarter, compared to analysts' expectations of $459.42 million. Sell-side analysts expect that RadNet, Inc. will post 0.56 EPS for the current fiscal year.

Institutional Investors Weigh In On RadNet

Several large investors have recently modified their holdings of RDNT. Norges Bank purchased a new stake in shares of RadNet during the fourth quarter worth approximately $56,381,000. Raymond James Financial Inc. purchased a new position in RadNet in the fourth quarter worth $33,090,000. T. Rowe Price Investment Management Inc. raised its position in RadNet by 79.3% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 913,691 shares of the medical research company's stock worth $63,813,000 after acquiring an additional 404,241 shares in the last quarter. Portolan Capital Management LLC raised its position in RadNet by 384.8% in the third quarter. Portolan Capital Management LLC now owns 491,358 shares of the medical research company's stock worth $34,095,000 after acquiring an additional 390,011 shares in the last quarter. Finally, Tidal Investments LLC raised its position in RadNet by 7,219.2% in the fourth quarter. Tidal Investments LLC now owns 389,308 shares of the medical research company's stock worth $27,189,000 after acquiring an additional 383,989 shares in the last quarter. Hedge funds and other institutional investors own 77.90% of the company's stock.

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.