RadNet (NASDAQ:RDNT) Price Target Raised to $94.00

RadNet (NASDAQ:RDNT) had its target price increased by Truist Financial from $80.00 to $94.00 in a research note issued to investors on Friday morning,Benzinga reports. The brokerage currently has a buy rating on the medical research company’s stock.

Several other brokerages have also recently weighed in on RDNT. Sidoti raised RadNet to a “strong-buy” rating in a report on Friday, October 4th. Barclays raised shares of RadNet from an “equal weight” rating to an “overweight” rating and lifted their price target for the company from $57.00 to $79.00 in a report on Friday, September 6th. Finally, Jefferies Financial Group boosted their target price on shares of RadNet from $75.00 to $80.00 and gave the stock a “buy” rating in a research note on Thursday, September 19th. One equities research analyst has rated the stock with a sell rating, four have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $78.25.

RadNet Stock Down 0.9 %

RadNet stock opened at $81.76 on Friday. RadNet has a fifty-two week low of $32.37 and a fifty-two week high of $93.65. The firm has a market capitalization of $6.05 billion, a PE ratio of -1,167.83 and a beta of 1.75. The company’s 50-day moving average is $72.43 and its 200-day moving average is $65.13. The company has a debt-to-equity ratio of 0.89, a current ratio of 2.16 and a quick ratio of 2.16.

Insider Transactions at RadNet

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

Institutional Investors Weigh In On RadNet

Several hedge funds and other institutional investors have recently modified their holdings of the company. Price T Rowe Associates Inc. MD raised its position in RadNet by 6.8% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 35,054 shares of the medical research company’s stock valued at $1,706,000 after buying an additional 2,222 shares during the last quarter. Janus Henderson Group PLC lifted its stake in RadNet by 108.6% in the first quarter. Janus Henderson Group PLC now owns 64,029 shares of the medical research company’s stock valued at $3,112,000 after purchasing an additional 33,335 shares during the last quarter. GAMMA Investing LLC grew its holdings in RadNet by 74.7% during the second 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. Harbor Capital Advisors Inc. raised its stake in shares of RadNet by 224.1% in the second quarter. Harbor Capital Advisors Inc. now owns 174,492 shares of the medical research company’s stock valued at $10,281,000 after buying an additional 120,648 shares during the period. Finally, SteelPeak Wealth LLC lifted its position in shares of RadNet by 25.0% during the 2nd quarter. SteelPeak Wealth LLC now owns 25,000 shares of the medical research company’s stock valued at $1,473,000 after buying an additional 5,000 shares during the last quarter. Institutional investors own 77.90% of the company’s stock.

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.