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

RadNet (NASDAQ:RDNT) had its price target reduced by Barclays from $85.00 to $74.00 in a report issued on Wednesday,Benzinga reports. They currently have an overweight rating on the medical research company’s stock.

A number of other equities research analysts have also recently issued reports on the company. Truist Financial boosted their price objective on RadNet from $80.00 to $94.00 and gave the company a “buy” rating in a research note on Friday, November 29th. Sidoti raised shares of RadNet to a “strong-buy” rating in a research report on Friday, October 4th. Finally, Jefferies Financial Group dropped their price target on shares of RadNet from $100.00 to $80.00 and set a “buy” rating on the stock in a research note on Wednesday, January 15th. One equities research 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 company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $75.50.

RadNet Stock Performance

NASDAQ:RDNT opened at $63.73 on Wednesday. The company has a market capitalization of $4.72 billion, a P/E ratio of -910.30 and a beta of 1.79. The business has a fifty day simple moving average of $74.76 and a two-hundred day simple moving average of $68.64. The company has a debt-to-equity ratio of 0.89, a current ratio of 2.16 and a quick ratio of 2.16. RadNet has a 1 year low of $35.16 and a 1 year high of $93.65.

Insider Transactions at RadNet

In related news, insider Ranjan Jayanathan sold 38,557 shares of the stock in a transaction on Tuesday, November 19th. The stock was sold at an average price of $80.00, for a total value of $3,084,560.00. Following the sale, the insider now owns 192,724 shares in the company, valued at approximately $15,417,920. This trade represents a 16.67 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP David Jeffrey Katz sold 12,300 shares of the business’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 owns 62,909 shares of the company’s stock, valued at approximately $5,136,519.85. The trade was a 16.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 5.12% of the company’s stock.

Institutional Trading of RadNet

A number of large investors have recently modified their holdings of RDNT. Lisanti Capital Growth LLC purchased a new stake in RadNet in the third quarter valued at approximately $2,922,000. Franklin Resources Inc. raised its position in shares of RadNet by 12.0% during the 3rd quarter. Franklin Resources Inc. now owns 387,061 shares of the medical research company’s stock valued at $27,334,000 after buying an additional 41,381 shares in the last quarter. Intech Investment Management LLC bought a new stake in shares of RadNet during the 2nd quarter worth $446,000. Pathstone Holdings LLC grew its position in RadNet by 58.5% in the third quarter. Pathstone Holdings LLC now owns 27,503 shares of the medical research company’s stock worth $1,908,000 after acquiring an additional 10,151 shares in the last quarter. Finally, JPMorgan Chase & Co. increased its stake in RadNet by 1.4% in the third quarter. JPMorgan Chase & Co. now owns 132,997 shares of the medical research company’s stock valued at $9,229,000 after acquiring an additional 1,838 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.