The stock of RadNet Inc. (NASDAQ:RDNT) hit a new 52-week high and has $11.20 target or 48.00% above today’s $7.57 share price. The 9 months bullish chart indicates low risk for the $362.26M company. The 1-year high was reported on Oct, 3 by Barchart.com. If the $11.20 price target is reached, the company will be worth $173.88 million more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. About 76,140 shares traded hands. RadNet Inc. (NASDAQ:RDNT) has risen 29.82% since February 29, 2016 and is uptrending. It has outperformed by 17.61% the S&P500.
Analysts await RadNet Inc. (NASDAQ:RDNT) to report earnings on November, 14. They expect $0.11 earnings per share, down 38.89% or $0.07 from last year’s $0.18 per share. RDNT’s profit will be $5.26 million for 17.20 P/E if the $0.11 EPS becomes a reality. After $0.08 actual earnings per share reported by RadNet Inc. for the previous quarter, Wall Street now forecasts 37.50% EPS growth.
RadNet Inc. (NASDAQ:RDNT) Ratings Coverage
Out of 3 analysts covering RadNet (NASDAQ:RDNT), 1 rate it a “Buy”, 0 “Sell”, while 2 “Hold”. This means 33% are positive. RadNet has been the topic of 3 analyst reports since March 15, 2016 according to StockzIntelligence Inc. The stock has “Buy” rating given by Sidoti on Friday, April 15. The stock of RadNet Inc. (NASDAQ:RDNT) has “Neutral” rating given on Thursday, June 2 by Sterne Agee CRT. The stock of RadNet Inc. (NASDAQ:RDNT) earned “Hold” rating by Jefferies on Tuesday, March 15.
According to Zacks Investment Research, “RadNet, Inc., is a national market leader providing high-quality, cost-effective diagnostic imaging services through a network of fully-owned and operated outpatient imaging centers. RadNet offers to its patients and referring physicians the full spectrum of diagnostic imaging exams, including PET/CT, MRI, CT, Nuclear Medicine, Mammography, Ultrasound and X-ray, as well as numerous other procedures. RadNet utilizes best of breed technology to appropriately serve the medical communities in which it operates.”
More notable recent RadNet Inc. (NASDAQ:RDNT) news were published by: Marketwatch.com which released: “Virtual Stock Exchange” on November 16, 2010, also Prnewswire.com with their article: “RadNet, Inc., a national leader in outpatient diagnostic imaging, selects …” published on July 26, 2016, Seekingalpha.com published: “Wait For A Pullback Before Buying RadNet” on September 28, 2016. More interesting news about RadNet Inc. (NASDAQ:RDNT) were released by: Quotes.Wsj.com and their article: “News Radnet Inc.RDNT” published on February 11, 2011 as well as Globenewswire.com‘s news article titled: “RadNet, Inc. Announces Date of Its Fourth Quarter 2015 Financial Results …” with publication date: February 24, 2016.
RDNT Company Profile
RadNet, Inc., incorporated on June 19, 2008, is a well-known provider of freestanding, fixed-site outpatient diagnostic imaging services in the United States. The Firm operates directly or indirectly through joint ventures with hospitals, approximately 300 centers located in California, Delaware, Florida, Maryland, New Jersey, New York and Rhode Island. The Company’s centers provide physicians with imaging capabilities to facilitate the diagnosis and treatment of diseases and disorders. The Company’s services include magnetic resonance imaging (MRI), computed tomography (CT), positron emission tomography (PET), nuclear medicine, mammography, ultrasound, diagnostic radiology (X-ray), fluoroscopy and other related procedures. The Firm operates approximately 140 fixed-site, freestanding outpatient diagnostic imaging facilities in California, over 10 in Delaware, three in Florida, 50 in Maryland, 20 in New Jersey, 20 in the Rochester and Hudson Valley areas of New York, approximately 40 in New York City, as well as five in Rhode Island.
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