Analysts Set RadNet, Inc. (NASDAQ:RDNT) Price Target at $79.75

RadNet, Inc. (NASDAQ:RDNT) has received an average recommendation of “Buy” from the five analysts that are covering the firm, MarketBeat.com reports. Four research analysts have rated the stock with a buy rating and one has issued a strong buy rating on the company. The average 1 year price objective among brokers that have issued a report on the stock in the last year is $79.75.

RDNT has been the topic of a number of research reports. Jefferies Financial Group dropped their price objective on shares of RadNet from $100.00 to $80.00 and set a “buy” rating on the stock in a report on Wednesday. Sidoti raised shares of RadNet to a “strong-buy” rating in a report on Friday, October 4th. Barclays raised their price objective on shares of RadNet from $79.00 to $85.00 and gave the stock an “overweight” rating in a report on Wednesday, December 4th. Finally, Truist Financial raised their price objective on shares of RadNet from $80.00 to $94.00 and gave the stock a “buy” rating in a report on Friday, November 29th.

RadNet Stock Performance

RDNT opened at $59.86 on Thursday. The company has a current ratio of 2.16, a quick ratio of 2.16 and a debt-to-equity ratio of 0.89. The company has a market cap of $4.43 billion, a price-to-earnings ratio of -855.02 and a beta of 1.79. The company’s 50 day moving average is $75.76 and its 200 day moving average is $68.56. RadNet has a 12-month low of $35.16 and a 12-month high of $93.65.

Insider Activity

In related news, insider Ranjan Jayanathan sold 38,557 shares of the business’s stock in a transaction on 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 sale, the insider now owns 192,724 shares in the company, valued at approximately $15,417,920. The trade was a 16.67 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP David Jeffrey Katz sold 12,300 shares of the business’s 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 sale, the executive vice president now owns 62,909 shares in the company, valued at $5,136,519.85. This represents a 16.35 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 5.12% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Lisanti Capital Growth LLC purchased a new position in RadNet during the third quarter worth $2,922,000. Franklin Resources Inc. boosted its stake in RadNet by 12.0% during the third quarter. Franklin Resources Inc. now owns 387,061 shares of the medical research company’s stock worth $27,334,000 after buying an additional 41,381 shares during the period. Intech Investment Management LLC purchased a new position in RadNet during the second quarter worth $446,000. Pathstone Holdings LLC boosted its stake in shares of RadNet by 58.5% during the third quarter. Pathstone Holdings LLC now owns 27,503 shares of the medical research company’s stock valued at $1,908,000 after purchasing an additional 10,151 shares during the period. Finally, JPMorgan Chase & Co. boosted its stake in shares of RadNet by 1.4% during the third quarter. JPMorgan Chase & Co. now owns 132,997 shares of the medical research company’s stock valued at $9,229,000 after purchasing an additional 1,838 shares during the period. 77.90% of the stock is owned by hedge funds and other institutional investors.

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.