RadNet (NASDAQ:RDNT) Price Target Raised to $80.00 at Truist Financial

RadNet (NASDAQ:RDNT) had its target price increased by Truist Financial from $70.00 to $80.00 in a research note released on Monday morning, Benzinga reports. They currently have a buy rating on the medical research company’s stock.

A number of other brokerages have also issued reports on RDNT. Jefferies Financial Group lifted their target price on RadNet from $75.00 to $80.00 and gave the company a buy rating in a research report on Thursday, September 19th. Barclays upgraded shares of RadNet from an equal weight rating to an overweight rating and lifted their price objective for the company from $57.00 to $79.00 in a report on Friday, September 6th. One analyst has rated the stock with a sell rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of Moderate Buy and an average target price of $74.75.

RadNet Stock Down 2.6 %

Shares of RDNT stock opened at $69.06 on Monday. RadNet has a 12-month low of $25.11 and a 12-month high of $71.92. The company has a quick ratio of 2.12, a current ratio of 2.12 and a debt-to-equity ratio of 0.92. The firm has a fifty day moving average of $63.64 and a 200-day moving average of $57.35. The company has a market capitalization of $5.10 billion, a price-to-earnings ratio of 230.20 and a beta of 1.74.

RadNet (NASDAQ:RDNT) last released its earnings results on Wednesday, August 7th. The medical research company reported $0.16 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.17 by ($0.01). RadNet had a return on equity of 4.30% and a net margin of 0.58%. The firm had revenue of $459.70 million for the quarter, compared to the consensus estimate of $438.53 million. During the same quarter last year, the company posted $0.24 EPS. RadNet’s revenue for the quarter was up 13.9% on a year-over-year basis. As a group, equities research analysts predict that RadNet will post 0.6 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, EVP Michael N. Murdock sold 15,000 shares of the stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $62.78, for a total value of $941,700.00. Following the completion of the sale, the executive vice president now owns 48,144 shares of the company’s stock, valued at approximately $3,022,480.32. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 5.12% of the company’s stock.

Institutional Trading of RadNet

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Clearbridge Investments LLC grew its position in shares of RadNet by 33.9% in the 2nd quarter. Clearbridge Investments LLC now owns 732,527 shares of the medical research company’s stock valued at $43,160,000 after acquiring an additional 185,523 shares during the period. Creative Planning bought a new position in RadNet during the second quarter worth about $451,000. Algert Global LLC acquired a new position in RadNet during the second quarter worth approximately $372,000. Susquehanna Fundamental Investments LLC bought a new stake in RadNet in the second quarter valued at approximately $247,000. Finally, Mackenzie Financial Corp acquired a new stake in shares of RadNet in the second quarter valued at approximately $218,000. 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.