RadNet, Inc. (NASDAQ:RDNT) Receives $74.75 Consensus Target Price from Analysts

Shares of RadNet, Inc. (NASDAQ:RDNT) have been given an average recommendation of “Buy” by the five analysts that are currently covering the company, MarketBeat reports. Four investment analysts have rated the stock with a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year target price among brokers that have covered the stock in the last year is $78.25.

A number of brokerages have recently commented on RDNT. Sidoti raised RadNet to a “strong-buy” rating in a research report on Friday, October 4th. Jefferies Financial Group raised their price target on shares of RadNet from $75.00 to $80.00 and gave the stock a “buy” rating in a research report on Thursday, September 19th. Truist Financial upped their price objective on shares of RadNet from $80.00 to $94.00 and gave the company a “buy” rating in a research report on Friday. Finally, Barclays raised RadNet from an “equal weight” rating to an “overweight” rating and lifted their target price for the stock from $57.00 to $79.00 in a research report on Friday, September 6th.

RadNet Price Performance

NASDAQ RDNT opened at $81.76 on Wednesday. The stock has a 50-day simple moving average of $72.43 and a 200 day simple moving average of $65.13. RadNet has a twelve month low of $32.37 and a twelve month high of $93.65. The stock has a market capitalization of $6.05 billion, a PE ratio of -1,167.83 and a beta of 1.75. The company has a debt-to-equity ratio of 0.89, a quick ratio of 2.16 and a current ratio of 2.16.

Insider Activity

In other RadNet news, EVP David Jeffrey Katz sold 12,300 shares of RadNet stock in a transaction on Monday, November 25th. The stock was sold at an average price of $81.65, for a total transaction of $1,004,295.00. Following the completion of the transaction, the executive vice president now directly owns 62,909 shares of the company’s stock, valued at approximately $5,136,519.85. This trade represents a 16.35 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Ranjan Jayanathan sold 38,557 shares of the company’s stock in a transaction dated Tuesday, November 19th. The stock was sold at an average price of $80.00, for a total transaction of $3,084,560.00. Following the completion of the sale, the insider now directly owns 192,724 shares in the company, valued at approximately $15,417,920. The trade was a 16.67 % decrease in their position. The disclosure for this sale can be found here. 5.12% of the stock is owned by company insiders.

Hedge Funds Weigh In On RadNet

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Covestor Ltd increased its holdings in shares of RadNet by 10,875.0% during the third quarter. Covestor Ltd now owns 439 shares of the medical research company’s stock worth $30,000 after buying an additional 435 shares in the last quarter. Nisa Investment Advisors LLC grew its holdings in shares of RadNet by 774.2% during the second quarter. Nisa Investment Advisors LLC now owns 848 shares of the medical research company’s stock worth $50,000 after purchasing an additional 751 shares during the last quarter. GAMMA Investing LLC grew its holdings in shares of RadNet by 74.7% during the second quarter. GAMMA Investing LLC now owns 865 shares of the medical research company’s stock worth $51,000 after purchasing an additional 370 shares during the last quarter. Highline Wealth Partners LLC bought a new position in shares of RadNet in the third quarter valued at about $68,000. Finally, Peterson Financial Group Inc. acquired a new position in RadNet during the 3rd quarter worth about $90,000. 77.90% of the stock is currently owned by institutional investors and hedge funds.

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.