Analysts Set RadNet, Inc. (NASDAQ:RDNT) Price Target at $73.25

RadNet, Inc. (NASDAQ:RDNT) has earned a consensus recommendation of “Buy” from the five brokerages that are currently covering the firm, MarketBeat reports. Three research analysts have rated the stock with a buy rating and two have issued a strong buy rating on the company. The average twelve-month price target among analysts that have issued ratings on the stock in the last year is $73.25.

Several research analysts have recently weighed in on RDNT shares. Barclays dropped their price target on shares of RadNet from $74.00 to $60.00 and set an “overweight” rating on the stock in a research note on Monday, March 24th. StockNews.com upgraded RadNet to a “sell” rating in a research report on Wednesday, March 19th. Truist Financial reaffirmed a “buy” rating and issued a $88.00 price objective (down previously from $94.00) on shares of RadNet in a research note on Wednesday, January 22nd. Jefferies Financial Group cut their price objective on RadNet from $100.00 to $80.00 and set a “buy” rating for the company in a research note on Wednesday, January 15th. Finally, Raymond James upgraded shares of RadNet from an “outperform” rating to a “strong-buy” rating and decreased their target price for the stock from $85.00 to $65.00 in a research note on Wednesday, March 5th.

RadNet Stock Down 1.6 %

RDNT stock opened at $48.70 on Tuesday. The company has a market cap of $3.61 billion, a price-to-earnings ratio of -695.61 and a beta of 1.85. The company has a debt-to-equity ratio of 0.89, a quick ratio of 2.16 and a current ratio of 2.16. The business’s 50-day moving average is $56.32 and its two-hundred day moving average is $66.55. RadNet has a fifty-two week low of $45.82 and a fifty-two week high of $93.65.

RadNet (NASDAQ:RDNT) last issued its quarterly earnings data on Thursday, February 27th. The medical research company reported $0.22 earnings per share for the quarter, topping the consensus estimate of $0.21 by $0.01. The firm had revenue of $477.10 million for the quarter, compared to analysts’ expectations of $459.42 million. RadNet had a negative net margin of 0.25% and a positive return on equity of 4.29%. As a group, analysts forecast that RadNet will post 0.56 earnings per share for the current year.

Insider Buying and Selling

In other news, CEO Cornelis Wesdorp sold 1,000 shares of RadNet stock in a transaction dated Friday, March 7th. The stock was sold at an average price of $50.52, for a total value of $50,520.00. Following the sale, the chief executive officer now directly owns 55,995 shares of the company’s stock, valued at approximately $2,828,867.40. The trade was a 1.75 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, COO Norman R. Hames sold 5,000 shares of the stock in a transaction that occurred on Wednesday, March 19th. The shares were sold at an average price of $50.22, for a total value of $251,100.00. Following the transaction, the chief operating officer now directly owns 251,959 shares of the company’s stock, valued at approximately $12,653,380.98. The trade was a 1.95 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 38,000 shares of company stock worth $1,926,730. 5.12% of the stock is owned by corporate insiders.

Institutional Trading of RadNet

Large investors have recently added to or reduced their stakes in the company. HighTower Advisors LLC grew its holdings in shares of RadNet by 1.8% in the third quarter. HighTower Advisors LLC now owns 7,861 shares of the medical research company’s stock valued at $545,000 after purchasing an additional 136 shares in the last quarter. Highland Capital Management LLC raised its stake in RadNet by 6.5% during the fourth quarter. Highland Capital Management LLC now owns 3,307 shares of the medical research company’s stock valued at $231,000 after purchasing an additional 202 shares in the last quarter. Summit Investment Advisors Inc. lifted its position in RadNet by 3.3% during the fourth quarter. Summit Investment Advisors Inc. now owns 6,917 shares of the medical research company’s stock valued at $483,000 after purchasing an additional 219 shares during the last quarter. Summit Financial LLC grew its stake in shares of RadNet by 2.4% in the 4th quarter. Summit Financial LLC now owns 11,111 shares of the medical research company’s stock worth $776,000 after buying an additional 262 shares in the last quarter. Finally, Virtue Capital Management LLC increased its holdings in shares of RadNet by 1.4% in the 3rd quarter. Virtue Capital Management LLC now owns 19,389 shares of the medical research company’s stock worth $1,345,000 after buying an additional 264 shares during the last quarter. Institutional investors own 77.90% of the company’s stock.

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.