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

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

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

Insiders Place Their Bets

In other news, EVP David Jeffrey Katz sold 12,300 shares of RadNet stock in a transaction that occurred on 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 completion of the transaction, the executive vice president now owns 62,909 shares in the company, valued at approximately $5,136,519.85. The trade was a 16.35 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Ranjan Jayanathan sold 38,557 shares of RadNet stock in a transaction that occurred 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 completion of the transaction, the insider now owns 192,724 shares of the company’s stock, valued at approximately $15,417,920. This trade represents a 16.67 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 5.12% of the company’s stock.

Hedge Funds Weigh In On RadNet

Large investors have recently bought and sold shares of the business. Lisanti Capital Growth LLC purchased a new position in RadNet during the 3rd quarter valued at $2,922,000. Franklin Resources Inc. lifted its holdings in shares of RadNet by 12.0% in the 3rd quarter. Franklin Resources Inc. now owns 387,061 shares of the medical research company’s stock worth $27,334,000 after buying an additional 41,381 shares during the period. KBC Group NV lifted its holdings in shares of RadNet by 47.6% in the 4th quarter. KBC Group NV now owns 2,678 shares of the medical research company’s stock worth $187,000 after buying an additional 864 shares during the period. Pathstone Holdings LLC lifted its holdings in shares of RadNet by 58.5% in the 3rd quarter. Pathstone Holdings LLC now owns 27,503 shares of the medical research company’s stock worth $1,908,000 after buying an additional 10,151 shares during the period. Finally, JPMorgan Chase & Co. lifted its holdings in shares of RadNet by 1.4% in the 3rd quarter. JPMorgan Chase & Co. now owns 132,997 shares of the medical research company’s stock worth $9,229,000 after buying an additional 1,838 shares during the period. Hedge funds and other institutional investors own 77.90% of the company’s stock.

RadNet Stock Down 1.9 %

Shares of RDNT opened at $61.33 on Monday. The business’s 50 day moving average is $68.72 and its 200 day moving average is $69.06. The company has a market capitalization of $4.54 billion, a PE ratio of -876.02 and a beta of 1.79. RadNet has a 12-month low of $36.47 and a 12-month high of $93.65. The company has a current ratio of 2.16, a quick ratio of 2.16 and a debt-to-equity ratio of 0.89.

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.