RadNet, Inc. (NASDAQ:RDNT) Receives Average Recommendation of “Buy” from Brokerages

RadNet, Inc. (NASDAQ:RDNT) has received a consensus recommendation of “Buy” from the five brokerages that are currently covering the firm, MarketBeat reports. Four equities research analysts have rated the stock with a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month price target among analysts that have updated their coverage on the stock in the last year is $78.25.

RDNT has been the topic of several analyst reports. Truist Financial raised their price objective on RadNet from $80.00 to $94.00 and gave the stock a “buy” rating in a report on Friday, November 29th. Sidoti upgraded shares of RadNet to a “strong-buy” rating in a report on Friday, October 4th. Jefferies Financial Group boosted their target price on shares of RadNet from $75.00 to $80.00 and gave the company a “buy” rating in a report on Thursday, September 19th. Finally, Barclays raised shares of RadNet from an “equal weight” rating to an “overweight” rating and increased their price target for the stock from $57.00 to $79.00 in a research note on Friday, September 6th.

Insider Activity at RadNet

In other RadNet news, EVP David Jeffrey Katz sold 12,300 shares of the firm’s 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 directly owns 62,909 shares of the company’s stock, valued at $5,136,519.85. This trade represents a 16.35 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 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 transaction of $3,084,560.00. Following the transaction, the insider now owns 192,724 shares in the company, valued at $15,417,920. This trade represents 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 large investors have recently added to or reduced their stakes in the company. HighTower Advisors LLC lifted its holdings in shares of RadNet by 1.8% in the 3rd quarter. HighTower Advisors LLC now owns 7,861 shares of the medical research company’s stock worth $545,000 after purchasing an additional 136 shares during the last quarter. AQR Capital Management LLC grew its position in RadNet by 3.2% in the 2nd quarter. AQR Capital Management LLC now owns 5,131 shares of the medical research company’s stock worth $302,000 after purchasing an additional 160 shares during the last quarter. Chartwell Investment Partners LLC increased its stake in shares of RadNet by 0.8% in the third quarter. Chartwell Investment Partners LLC now owns 24,883 shares of the medical research company’s stock valued at $1,726,000 after purchasing an additional 193 shares during the period. Virtue Capital Management LLC raised its holdings in shares of RadNet by 1.4% during the third quarter. Virtue Capital Management LLC now owns 19,389 shares of the medical research company’s stock valued at $1,345,000 after buying an additional 264 shares during the last quarter. Finally, Crossmark Global Holdings Inc. boosted its position in shares of RadNet by 6.3% during the third quarter. Crossmark Global Holdings Inc. now owns 4,958 shares of the medical research company’s stock worth $344,000 after buying an additional 296 shares during the period. 77.90% of the stock is currently owned by institutional investors.

RadNet Stock Down 2.7 %

Shares of NASDAQ RDNT opened at $80.64 on Wednesday. The firm has a market cap of $5.97 billion, a P/E ratio of -1,151.84 and a beta of 1.77. The company has a debt-to-equity ratio of 0.89, a quick ratio of 2.16 and a current ratio of 2.16. RadNet has a 1 year low of $33.44 and a 1 year high of $93.65. The firm’s 50 day moving average price is $72.88 and its 200 day moving average price is $65.47.

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.