RadNet (NASDAQ:RDNT) Shares Gap Down – Should You Sell?

RadNet, Inc. (NASDAQ:RDNT) gapped down prior to trading 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 traded.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on RDNT. Jefferies Financial Group cut their target price on RadNet from $100.00 to $80.00 and set a “buy” rating on the stock in a research note on Wednesday, January 15th. Barclays reduced their target price on RadNet from $85.00 to $74.00 and set an “overweight” rating on the stock in a research note on Wednesday, January 22nd. Finally, Truist Financial reissued a “buy” rating and set a $88.00 target price (down from $94.00) on shares of RadNet in a research note on Wednesday, January 22nd. One analyst has rated the stock with a sell rating, four have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $75.50.

RadNet Stock Down 3.7 %

The company has a debt-to-equity ratio of 0.89, a quick ratio of 2.16 and a current ratio of 2.16. The company has a fifty day simple moving average of $65.77 and a two-hundred day simple moving average of $69.04. The firm has a market capitalization of $4.11 billion, a PE ratio of -792.32 and a beta of 1.79.

RadNet (NASDAQ:RDNT) last released its quarterly earnings data on Thursday, February 27th. The medical research company reported $0.22 earnings per share for the quarter, topping analysts’ consensus estimates of $0.21 by $0.01. The company had revenue of $477.10 million during the quarter, compared to analyst estimates of $459.42 million. RadNet had a negative net margin of 0.25% and a positive return on equity of 4.29%. Analysts forecast that RadNet, Inc. will post 0.56 EPS for the current fiscal year.

Hedge Funds Weigh In On RadNet

A number of large investors have recently bought and sold shares of RDNT. Covestor Ltd increased its holdings in shares of RadNet by 10,875.0% in the 3rd quarter. Covestor Ltd now owns 439 shares of the medical research company’s stock valued at $30,000 after acquiring an additional 435 shares during the period. USA Financial Formulas purchased a new position in RadNet in the fourth quarter valued at about $30,000. Fifth Third Bancorp raised its holdings in RadNet by 84.3% in the fourth quarter. Fifth Third Bancorp now owns 667 shares of the medical research company’s stock worth $47,000 after purchasing an additional 305 shares in the last quarter. Highline Wealth Partners LLC purchased a new stake in shares of RadNet during the third quarter valued at about $68,000. Finally, Peterson Financial Group Inc. bought a new stake in shares of RadNet in the 3rd quarter valued at about $90,000. 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.