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

RadNet, Inc. (NASDAQ:RDNT) shares 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.

Wall Street Analysts Forecast Growth

RDNT has been the subject of several research reports. Barclays decreased their target price on RadNet from $85.00 to $74.00 and set an “overweight” rating for the company in a research report on Wednesday, January 22nd. Truist Financial reiterated a “buy” rating and issued a $88.00 target price (down previously from $94.00) on shares of RadNet in a research report 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 report on Wednesday, January 15th. One investment analyst has rated the stock with a sell rating, four have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $75.50.

RadNet Stock Down 3.7 %

The business has a 50-day moving average price of $65.43 and a 200-day moving average price of $69.00. The company has a market capitalization of $4.11 billion, a price-to-earnings ratio of -792.32 and a beta of 1.79. The company has a quick ratio of 2.16, a current ratio of 2.16 and a debt-to-equity ratio of 0.89.

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

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the business. KBC Group NV boosted its stake in shares of RadNet by 47.6% during the 4th quarter. KBC Group NV now owns 2,678 shares of the medical research company’s stock worth $187,000 after acquiring an additional 864 shares in the last quarter. Lisanti Capital Growth LLC acquired a new position in shares of RadNet during the 3rd quarter worth about $2,922,000. Franklin Resources Inc. lifted its position in shares of RadNet by 12.0% during the 3rd quarter. Franklin Resources Inc. now owns 387,061 shares of the medical research company’s stock worth $27,334,000 after purchasing an additional 41,381 shares during the last quarter. Pathstone Holdings LLC lifted its position in shares of RadNet by 58.5% during the 3rd quarter. Pathstone Holdings LLC now owns 27,503 shares of the medical research company’s stock worth $1,908,000 after purchasing an additional 10,151 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC lifted its position in shares of 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 worth $103,532,000 after purchasing an additional 344,146 shares during 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.