Brokerages Set RadNet, Inc. (NASDAQ:RDNT) Target Price at $74.75

Shares of RadNet, Inc. (NASDAQ:RDNT) have been given a consensus rating of “Buy” by the five analysts that are currently covering the company, MarketBeat Ratings reports. Four investment analysts have rated the stock with a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month price objective among brokers that have issued a report on the stock in the last year is $74.75.

Several analysts have recently issued reports on the stock. Jefferies Financial Group increased 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. Sidoti raised shares of RadNet to a “strong-buy” rating in a research report on Friday, October 4th. Barclays upgraded shares of RadNet from an “equal weight” rating to an “overweight” rating and boosted their price target for the stock from $57.00 to $79.00 in a research note on Friday, September 6th. Finally, Truist Financial increased their price objective on RadNet from $70.00 to $80.00 and gave the company a “buy” rating in a research note on Monday, September 23rd.

RadNet Stock Performance

NASDAQ:RDNT opened at $72.53 on Friday. RadNet has a fifty-two week low of $28.27 and a fifty-two week high of $72.69. The company has a debt-to-equity ratio of 0.92, a quick ratio of 2.12 and a current ratio of 2.12. The company has a 50 day moving average price of $67.36 and a 200 day moving average price of $61.81. The stock has a market capitalization of $5.36 billion, a P/E ratio of 518.07 and a beta of 1.75.

RadNet (NASDAQ:RDNT) last posted its earnings results on Wednesday, August 7th. The medical research company reported $0.16 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.17 by ($0.01). The firm had revenue of $459.70 million for the quarter, compared to analyst estimates of $438.53 million. RadNet had a return on equity of 4.30% and a net margin of 0.58%. RadNet’s revenue was up 13.9% on a year-over-year basis. During the same period in the previous year, the company posted $0.24 EPS. Equities research analysts forecast that RadNet will post 0.59 EPS for the current year.

Insider Activity at RadNet

In related news, EVP Michael N. Murdock sold 15,000 shares of the business’s stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $62.78, for a total value of $941,700.00. Following the completion of the sale, the executive vice president now directly owns 48,144 shares of the company’s stock, valued at $3,022,480.32. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 5.12% of the company’s stock.

Institutional Investors Weigh In On RadNet

Several large investors have recently modified their holdings of the company. Covestor Ltd increased its stake in RadNet by 10,875.0% in the third quarter. Covestor Ltd now owns 439 shares of the medical research company’s stock valued at $30,000 after purchasing an additional 435 shares during the period. Nisa Investment Advisors LLC increased its position in RadNet by 774.2% in the 2nd quarter. Nisa Investment Advisors LLC now owns 848 shares of the medical research company’s stock valued at $50,000 after acquiring an additional 751 shares during the period. GAMMA Investing LLC raised its stake 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 acquiring an additional 370 shares during the last quarter. Highline Wealth Partners LLC acquired a new stake in RadNet during the 3rd quarter worth approximately $68,000. Finally, Peterson Financial Group Inc. purchased a new position in shares of RadNet in the 3rd quarter valued at approximately $90,000. 77.90% of the stock is owned by institutional investors and hedge funds.

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.