RadNet, Inc. (NASDAQ:RDNT) Receives $75.50 Consensus Price Target from Brokerages

Shares of RadNet, Inc. (NASDAQ:RDNT) have earned a consensus rating of “Buy” from the five brokerages that are covering the company, Marketbeat reports. Four investment analysts have rated the stock with a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month price target among analysts that have updated their coverage on the stock in the last year is $75.50.

Several analysts recently weighed in on the company. Jefferies Financial Group cut their price target on RadNet from $100.00 to $80.00 and set a “buy” rating on the stock in a research note on Wednesday, January 15th. Barclays cut their price target on RadNet from $85.00 to $74.00 and set an “overweight” rating on the stock in a research note on Wednesday, January 22nd. Finally, Truist Financial restated a “buy” rating and issued a $88.00 price target (down previously from $94.00) on shares of RadNet in a research note on Wednesday, January 22nd.

RadNet Stock Performance

RadNet stock opened at $62.05 on Monday. The company has a quick ratio of 2.16, a current ratio of 2.16 and a debt-to-equity ratio of 0.89. The company has a market capitalization of $4.59 billion, a P/E ratio of -886.30 and a beta of 1.79. The stock’s 50 day moving average is $69.84 and its 200 day moving average is $69.02. RadNet has a twelve month low of $36.47 and a twelve month high of $93.65.

Insider Activity at RadNet

In other news, EVP David Jeffrey Katz sold 12,300 shares of the 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 transaction, the executive vice president now directly owns 62,909 shares of the company’s stock, valued at $5,136,519.85. This represents a 16.35 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Ranjan Jayanathan sold 38,557 shares of the 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 transaction, the insider now directly owns 192,724 shares in the company, valued at $15,417,920. The trade was a 16.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 5.12% of the stock is currently owned by insiders.

Hedge Funds Weigh In On RadNet

Several hedge funds and other institutional investors have recently modified their holdings of RDNT. Covestor Ltd lifted 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 valued at $30,000 after buying an additional 435 shares during the period. USA Financial Formulas bought a new position in shares of RadNet during the 4th quarter valued at $30,000. Fifth Third Bancorp lifted its holdings in shares of RadNet by 84.3% during the 4th quarter. Fifth Third Bancorp now owns 667 shares of the medical research company’s stock valued at $47,000 after buying an additional 305 shares during the period. Highline Wealth Partners LLC bought a new position in shares of RadNet during the 3rd quarter valued at $68,000. Finally, Peterson Financial Group Inc. bought a new position in shares of RadNet during the 3rd quarter valued at $90,000. 77.90% of the stock is owned by 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.