RadNet, Inc. (NASDAQ:RDNT) Receives $74.75 Consensus Price Target from Analysts

RadNet, Inc. (NASDAQ:RDNT) has earned a consensus rating of “Buy” from the five analysts that are covering the firm, Marketbeat Ratings reports. Four research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. The average 1-year price target among analysts that have covered the stock in the last year is $74.75.

A number of brokerages have recently issued reports on RDNT. Sidoti upgraded shares of RadNet to a “strong-buy” rating in a report on Friday, October 4th. Jefferies Financial Group upped their price target on RadNet from $75.00 to $80.00 and gave the company a “buy” rating in a research note on Thursday, September 19th. Barclays upgraded shares of RadNet from an “equal weight” rating to an “overweight” rating and boosted their price objective for the company from $57.00 to $79.00 in a report on Friday, September 6th. Finally, Truist Financial boosted their target price on RadNet from $70.00 to $80.00 and gave the company a “buy” rating in a research report on Monday, September 23rd.

Insider Buying and Selling

In related news, EVP Michael N. Murdock sold 15,000 shares of the firm’s stock in a transaction that occurred 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 sale, the executive vice president now owns 48,144 shares of the company’s stock, valued at $3,022,480.32. This trade represents 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 through this hyperlink. 5.12% of the stock is currently owned by insiders.

Institutional Investors Weigh In On RadNet

Several hedge funds and other institutional investors have recently bought and sold shares of RDNT. Covestor Ltd increased its stake in shares of RadNet by 10,875.0% during the third quarter. Covestor Ltd now owns 439 shares of the medical research company’s stock worth $30,000 after acquiring an additional 435 shares during the period. Nisa Investment Advisors LLC raised its holdings in shares of RadNet by 774.2% in the second quarter. Nisa Investment Advisors LLC now owns 848 shares of the medical research company’s stock worth $50,000 after acquiring an additional 751 shares during the last quarter. GAMMA Investing LLC lifted its stake in shares of 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 buying an additional 370 shares during the period. Highline Wealth Partners LLC purchased a new stake in RadNet in the 3rd quarter worth approximately $68,000. Finally, SG Americas Securities LLC raised its holdings in RadNet by 8.7% in the 1st quarter. SG Americas Securities LLC now owns 3,637 shares of the medical research company’s stock valued at $177,000 after acquiring an additional 291 shares during the last quarter. 77.90% of the stock is currently owned by institutional investors and hedge funds.

RadNet Trading Up 2.2 %

Shares of RadNet stock opened at $67.99 on Friday. The company has a current ratio of 2.12, a quick ratio of 2.12 and a debt-to-equity ratio of 0.92. RadNet has a twelve month low of $28.27 and a twelve month high of $72.18. The firm has a market capitalization of $5.03 billion, a PE ratio of 485.64 and a beta of 1.75. The firm’s 50-day moving average price is $66.94 and its 200 day moving average price is $61.36.

RadNet (NASDAQ:RDNT) last announced its quarterly earnings data on Wednesday, August 7th. The medical research company reported $0.16 EPS for the quarter, missing analysts’ consensus estimates of $0.17 by ($0.01). The company had revenue of $459.70 million for the quarter, compared to analysts’ expectations of $438.53 million. RadNet had a return on equity of 4.30% and a net margin of 0.58%. The business’s quarterly revenue was up 13.9% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.24 EPS. On average, sell-side analysts predict that RadNet will post 0.59 EPS for the current fiscal year.

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.