Jefferies Financial Group Increases RadNet (NASDAQ:RDNT) Price Target to $75.00

RadNet (NASDAQ:RDNT) had its price target lifted by Jefferies Financial Group from $61.00 to $75.00 in a note issued to investors on Thursday, Benzinga reports. The firm presently has a “buy” rating on the medical research company’s stock. Jefferies Financial Group’s target price indicates a potential upside of 22.13% from the company’s current price.

Several other equities analysts have also recently weighed in on RDNT. Barclays raised their target price on shares of RadNet from $48.00 to $51.00 and gave the company an “equal weight” rating in a research note on Wednesday. StockNews.com cut shares of RadNet from a “hold” rating to a “sell” rating in a research note on Wednesday, May 15th. Truist Financial reissued a “buy” rating and issued a $63.00 price objective (up from $55.00) on shares of RadNet in a research note on Wednesday, May 15th. Finally, Raymond James lifted their price objective on shares of RadNet from $50.00 to $60.00 and gave the stock an “outperform” rating in a research note on Friday, May 10th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and three have given a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $62.25.

RadNet Stock Up 2.6 %

RDNT opened at $61.41 on Thursday. The company has a current ratio of 1.86, a quick ratio of 1.86 and a debt-to-equity ratio of 0.76. RadNet has a 1-year low of $25.11 and a 1-year high of $64.06. The company has a market capitalization of $4.54 billion, a PE ratio of 204.70 and a beta of 1.75. The firm’s 50 day simple moving average is $58.20 and its two-hundred day simple moving average is $47.81.

RadNet (NASDAQ:RDNT) last released its quarterly earnings results on Wednesday, May 8th. The medical research company reported $0.07 earnings per share for the quarter, topping the consensus estimate of ($0.09) by $0.16. RadNet had a net margin of 1.28% and a return on equity of 5.05%. The business had revenue of $431.70 million for the quarter, compared to the consensus estimate of $421.72 million. During the same period last year, the firm earned ($0.08) earnings per share. The company’s quarterly revenue was up 10.5% on a year-over-year basis. As a group, equities analysts forecast that RadNet will post 0.59 EPS for the current year.

Insider Transactions at RadNet

In other news, Director Gregory E. Spurlock sold 7,167 shares of the firm’s stock in a transaction dated Monday, June 17th. The shares were sold at an average price of $59.75, for a total value of $428,228.25. Following the completion of the sale, the director now owns 9,758 shares in the company, valued at approximately $583,040.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In related news, Director Gregory E. Spurlock sold 7,167 shares of RadNet stock in a transaction dated Monday, June 17th. The shares were sold at an average price of $59.75, for a total transaction of $428,228.25. Following the completion of the sale, the director now owns 9,758 shares in the company, valued at approximately $583,040.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Alma Gregory Sorensen sold 5,000 shares of RadNet stock in a transaction dated Tuesday, June 11th. The shares were sold at an average price of $61.24, for a total transaction of $306,200.00. Following the sale, the executive vice president now owns 1,249,205 shares of the company’s stock, valued at approximately $76,501,314.20. The disclosure for this sale can be found here. In the last quarter, insiders sold 99,730 shares of company stock worth $6,121,516. 5.12% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. GAMMA Investing LLC increased its position in RadNet by 74.7% during the 2nd quarter. GAMMA Investing LLC now owns 865 shares of the medical research company’s stock valued at $51,000 after purchasing an additional 370 shares during the period. Assetmark Inc. increased its position in RadNet by 35.2% during the 4th quarter. Assetmark Inc. now owns 3,183 shares of the medical research company’s stock valued at $111,000 after purchasing an additional 829 shares during the period. SG Americas Securities LLC increased its position in RadNet by 8.7% during the 1st quarter. SG Americas Securities LLC now owns 3,637 shares of the medical research company’s stock valued at $177,000 after purchasing an additional 291 shares during the period. MQS Management LLC purchased a new position in shares of RadNet in the 1st quarter worth approximately $207,000. Finally, Los Angeles Capital Management LLC purchased a new position in shares of RadNet in the 1st quarter worth approximately $218,000. Hedge funds and other 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.