RadNet (NASDAQ:RDNT) Given New $74.00 Price Target at Barclays

RadNet (NASDAQ:RDNT) had its price target dropped by stock analysts at Barclays from $85.00 to $74.00 in a research note issued on Wednesday,Benzinga reports. The brokerage currently has an “overweight” rating on the medical research company’s stock. Barclays‘s price target indicates a potential upside of 13.93% from the company’s previous close.

RDNT has been the subject of several other reports. Jefferies Financial Group reduced their price objective on RadNet from $100.00 to $80.00 and set a “buy” rating for the company in a research report on Wednesday, January 15th. Truist Financial lifted their price objective on shares of RadNet from $80.00 to $94.00 and gave the company a “buy” rating in a report on Friday, November 29th. Finally, Sidoti upgraded shares of RadNet to a “strong-buy” rating in a report on Friday, October 4th. One 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 data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $75.50.

RadNet Price Performance

Shares of NASDAQ RDNT opened at $64.95 on Wednesday. The company has a fifty day moving average price of $74.38 and a 200 day moving average price of $68.60. The firm has a market cap of $4.81 billion, a PE ratio of -927.72 and a beta of 1.79. The company has a current ratio of 2.16, a quick ratio of 2.16 and a debt-to-equity ratio of 0.89. RadNet has a 1-year low of $35.16 and a 1-year high of $93.65.

Insider Activity at RadNet

In other news, insider Ranjan Jayanathan sold 38,557 shares of the company’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 sale, the insider now directly owns 192,724 shares of the company’s stock, valued at approximately $15,417,920. This represents a 16.67 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP David Jeffrey Katz sold 12,300 shares of RadNet stock in a transaction dated 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 $5,136,519.85. The trade was a 16.35 % decrease in their position. The disclosure for this sale can be found here. 5.12% of the stock is owned by company insiders.

Institutional Trading of RadNet

A number of hedge funds have recently made changes to their positions in RDNT. Covestor Ltd increased its holdings in shares of RadNet by 10,875.0% during the 3rd 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 last quarter. USA Financial Formulas bought a new position in RadNet during the fourth quarter worth $30,000. Fifth Third Bancorp increased its holdings in shares of RadNet by 84.3% in the fourth quarter. Fifth Third Bancorp now owns 667 shares of the medical research company’s stock valued at $47,000 after purchasing an additional 305 shares during the last quarter. Highline Wealth Partners LLC bought a new position in shares of RadNet in the third quarter valued at about $68,000. Finally, Peterson Financial Group Inc. acquired a new stake in shares of RadNet during the 3rd quarter worth about $90,000. 77.90% of the stock is owned by institutional investors and hedge funds.

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.