Jefferies Financial Group Cuts RadNet (NASDAQ:RDNT) Price Target to $80.00

RadNet (NASDAQ:RDNT) had its price objective trimmed by Jefferies Financial Group from $100.00 to $80.00 in a research report sent to investors on Wednesday,Benzinga reports. The firm currently has a buy rating on the medical research company’s stock.

A number of other analysts have also weighed in on the stock. Truist Financial raised their target price on shares of RadNet from $80.00 to $94.00 and gave the company a “buy” rating in a research report on Friday, November 29th. Barclays raised their price objective on RadNet from $79.00 to $85.00 and gave the company an “overweight” rating in a report on Wednesday, December 4th. Finally, Sidoti raised RadNet to a “strong-buy” rating in a report on Friday, October 4th. One research analyst has rated the stock with a sell rating, four have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, RadNet has an average rating of “Moderate Buy” and a consensus price target of $79.75.

RadNet Stock Down 1.7 %

Shares of RDNT opened at $59.86 on Wednesday. RadNet has a 12 month low of $35.16 and a 12 month high of $93.65. The firm’s 50 day moving average is $75.76 and its 200-day moving average is $68.50. 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 stock has a market capitalization of $4.43 billion, a PE ratio of -855.02 and a beta of 1.79.

Insider Activity

In other RadNet news, 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 value of $1,004,295.00. Following the transaction, the executive vice president now owns 62,909 shares of the company’s stock, valued at approximately $5,136,519.85. The trade was a 16.35 % decrease in their ownership of the stock. The transaction 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 stock in a transaction dated Tuesday, November 19th. The shares were sold at an average price of $80.00, for a total transaction of $3,084,560.00. Following the transaction, the insider now owns 192,724 shares of the company’s stock, valued at approximately $15,417,920. The trade was a 16.67 % decrease in their position. The disclosure for this sale can be found here. Insiders own 5.12% of the company’s stock.

Institutional Investors Weigh In On RadNet

Large investors have recently modified their holdings of the stock. Covestor Ltd boosted its stake in 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 during the period. USA Financial Formulas purchased a new stake in RadNet in the fourth quarter worth about $30,000. Highline Wealth Partners LLC bought a new stake in shares of RadNet during the 3rd quarter valued at $68,000. Peterson Financial Group Inc. purchased a new stake in shares of RadNet in the 3rd quarter worth about $90,000. Finally, GAMMA Investing LLC increased its stake in shares of RadNet by 57.3% in the 3rd quarter. GAMMA Investing LLC now owns 1,361 shares of the medical research company’s stock worth $94,000 after acquiring an additional 496 shares in the last quarter. Hedge funds and other 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.