RadNet, Inc. (NASDAQ:RDNT) Receives $84.75 Average Price Target from Brokerages

RadNet, Inc. (NASDAQ:RDNT) has been given an average rating of “Buy” by the five analysts that are currently covering the firm, MarketBeat 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 twelve-month target price among brokers that have issued a report on the stock in the last year is $84.75.

Several brokerages have recently weighed in on RDNT. Sidoti raised RadNet to a “strong-buy” rating in a research note on Friday, October 4th. Truist Financial raised their price target on shares of RadNet from $80.00 to $94.00 and gave the stock a “buy” rating in a report on Friday, November 29th. Barclays upped their price objective on shares of RadNet from $79.00 to $85.00 and gave the company an “overweight” rating in a research note on Wednesday, December 4th. Finally, Jefferies Financial Group lifted their target price on shares of RadNet from $82.00 to $100.00 and gave the stock a “buy” rating in a research note on Thursday, December 5th.

Insider Transactions at RadNet

In other RadNet news, EVP David Jeffrey Katz sold 12,300 shares of the firm’s stock in a transaction on Monday, November 25th. The shares were sold at an average price of $81.65, for a total value of $1,004,295.00. Following 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Ranjan Jayanathan sold 38,557 shares of the stock in a transaction that occurred on Tuesday, November 19th. The stock was 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 directly owns 192,724 shares of the company’s stock, valued at approximately $15,417,920. This trade represents a 16.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 5.12% of the company’s stock.

Institutional Investors Weigh In On RadNet

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Covestor Ltd boosted its holdings in shares of RadNet by 10,875.0% in the 3rd quarter. Covestor Ltd now owns 439 shares of the medical research company’s stock worth $30,000 after purchasing an additional 435 shares in the last quarter. Nisa Investment Advisors LLC raised its stake in RadNet by 774.2% during the second quarter. Nisa Investment Advisors LLC now owns 848 shares of the medical research company’s stock valued at $50,000 after buying an additional 751 shares during the last quarter. Highline Wealth Partners LLC bought a new position in shares of RadNet in the third quarter worth approximately $68,000. Peterson Financial Group Inc. bought a new position in RadNet during the 3rd quarter valued at about $90,000. Finally, GAMMA Investing LLC increased its position in RadNet by 57.3% during the third quarter. GAMMA Investing LLC now owns 1,361 shares of the medical research company’s stock valued at $94,000 after acquiring an additional 496 shares during the last quarter. Institutional investors own 77.90% of the company’s stock.

RadNet Stock Performance

Shares of RadNet stock opened at $72.74 on Friday. The stock has a market cap of $5.38 billion, a price-to-earnings ratio of -1,038.99 and a beta of 1.77. RadNet has a twelve month low of $33.44 and a twelve month high of $93.65. The company’s fifty day moving average is $75.45 and its 200 day moving average is $67.40. The company has a quick ratio of 2.16, a current ratio of 2.16 and a debt-to-equity ratio of 0.89.

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.