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Investing.com - Truist Securities has maintained its Buy rating and $74.00 price target on RadNet (NASDAQ:RDNT), currently trading at $56.84, following the company’s announcement of a new reimbursement agreement for its Enhanced Breast Cancer Detection (EBCD) program. According to InvestingPro data, analysts are highly bullish on the stock, with price targets ranging from $60 to $80.
RadNet has reached an agreement with Regal Medical (TASE:BLWV) Group, Lakeside Community Healthcare (NYSE:CHCT), and ADOC Medical Group to add EBCD benefits to their members’ health plans and reimburse RadNet for the program, according to Truist Securities.
The three medical groups are affiliates of Heritage Provider Network, one of Southern California’s largest physician-owned medical groups, serving nearly 600,000 members and contracting with most major health insurance carriers.
Under the agreement, these medical groups will provide RadNet’s AI-powered breast cancer detection services to all mammogram-eligible patients, with RadNet launching an outreach program to encourage patient and practice adoption.
The EBCD program is currently experiencing adoption rates exceeding 40% nationwide, with Truist Securities expecting additional details about the partnership when RadNet reports its second-quarter results.
In other recent news, RadNet Inc. reported a revenue increase to $471.4 million for the first quarter of 2025, surpassing forecasts of $446.21 million. Despite this, the company posted an earnings per share (EPS) of -$0.5, missing the forecasted -$0.108. The company has raised its 2025 revenue and adjusted EBITDA guidance, reflecting confidence in its strategic direction. RadNet also announced the acquisition of See-Mode Technologies, an AI ultrasound innovator, which is expected to enhance diagnostic accuracy and workflow efficiency. The integration of See-Mode’s technology, particularly in thyroid and breast ultrasound, is anticipated to increase RadNet’s capacity and potentially boost revenue. Additionally, RadNet secured a $100 million incremental term loan from Barclays (LON:BARC) Bank PLC to finance future acquisitions and for general corporate purposes. Analyst firms Truist Securities and Raymond (NSE:RYMD) James maintained positive outlooks on RadNet, with Truist keeping a Buy rating and Raymond James raising the stock target to $66. These developments underscore RadNet’s ongoing efforts to strengthen its core business operations and expand its digital health initiatives.
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