RadNet (NASDAQ:RDNT) Shares Gap Down - What's Next?

Shares of RadNet, Inc. (NASDAQ:RDNT - Get Free Report) gapped down before the market opened on Friday . The stock had previously closed at $57.60, but opened at $50.00. RadNet shares last traded at $49.47, with a volume of 375,605 shares changing hands.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on RDNT shares. Truist Financial reaffirmed a "buy" rating and set a $88.00 target price (down previously from $94.00) on shares of RadNet in a report on Wednesday, January 22nd. Jefferies Financial Group reduced their target price on RadNet from $100.00 to $80.00 and set a "buy" rating for the company in a report on Wednesday, January 15th. Finally, Barclays reduced their target price on RadNet from $85.00 to $74.00 and set an "overweight" rating for the company in a report on Wednesday, January 22nd. One research analyst has rated the stock with a sell rating, four have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $75.50.

RadNet Stock Up 1.9 %

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 market cap of $3.84 billion, a PE ratio of -740.32 and a beta of 1.79. The company has a fifty day moving average price of $64.56 and a 200 day moving average price of $68.91.

RadNet (NASDAQ:RDNT - Get Free Report) last issued its quarterly earnings data 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 company had revenue of $477.10 million during the quarter, compared to analyst estimates of $459.42 million. As a group, analysts anticipate that RadNet, Inc. will post 0.56 EPS for the current year.

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Institutional Investors Weigh In On RadNet

Institutional investors have recently made changes to their positions in the business. KBC Group NV lifted its stake in RadNet by 47.6% in the fourth quarter. KBC Group NV now owns 2,678 shares of the medical research company's stock worth $187,000 after purchasing an additional 864 shares during the last quarter. Lisanti Capital Growth LLC purchased a new position in shares of RadNet in the third quarter worth about $2,922,000. Franklin Resources Inc. increased its holdings in shares of RadNet by 12.0% in the third quarter. Franklin Resources Inc. now owns 387,061 shares of the medical research company's stock worth $27,334,000 after buying an additional 41,381 shares during the period. Pathstone Holdings LLC lifted its stake in shares of RadNet by 58.5% in the 3rd quarter. Pathstone Holdings LLC now owns 27,503 shares of the medical research company's stock valued at $1,908,000 after acquiring an additional 10,151 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC boosted its holdings in RadNet by 30.4% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 1,475,995 shares of the medical research company's stock valued at $103,532,000 after acquiring an additional 344,146 shares during the period. Hedge funds and other institutional investors own 77.90% of the company's stock.

About RadNet

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.