RadNet (NASDAQ:RDNT) PT Raised to $80.00

RadNet (NASDAQ:RDNT) had its target price upped by Jefferies Financial Group from $75.00 to $80.00 in a research note issued to investors on Thursday, Benzinga reports. The brokerage currently has a “buy” rating on the medical research company’s stock. Jefferies Financial Group’s price objective indicates a potential upside of 15.37% from the stock’s current price.

Several other equities analysts have also recently issued reports on the company. Truist Financial raised their price objective on RadNet from $63.00 to $70.00 and gave the stock a “buy” rating in a research note on Monday, July 15th. Barclays upgraded RadNet from an “equal weight” rating to an “overweight” rating and boosted their price target for the stock from $57.00 to $79.00 in a research report on Friday, September 6th. One analyst has rated the stock with a sell rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $72.25.

RadNet Price Performance

Shares of NASDAQ:RDNT opened at $69.34 on Thursday. The business has a fifty day simple moving average of $63.03 and a 200-day simple moving average of $56.72. The company has a quick ratio of 2.12, a current ratio of 2.12 and a debt-to-equity ratio of 0.92. RadNet has a 52 week low of $25.11 and a 52 week high of $70.37. The company has a market cap of $5.12 billion, a P/E ratio of 231.13 and a beta of 1.74.

RadNet (NASDAQ:RDNT) last posted 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). The company had revenue of $459.70 million during the quarter, compared to analyst estimates of $438.53 million. RadNet had a net margin of 0.58% and a return on equity of 4.30%. RadNet’s quarterly revenue was up 13.9% compared to the same quarter last year. During the same quarter last year, the business posted $0.24 EPS. Equities research analysts forecast that RadNet will post 0.58 EPS for the current year.

Insider Buying and Selling

In other news, EVP Michael N. Murdock sold 15,000 shares of the firm’s stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $62.78, for a total value of $941,700.00. Following the sale, the executive vice president now directly owns 48,144 shares of the company’s stock, valued at $3,022,480.32. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 5.12% of the stock is owned by insiders.

Institutional Trading of RadNet

Several hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its holdings in shares of RadNet by 0.8% during the fourth quarter. Vanguard Group Inc. now owns 4,254,717 shares of the medical research company’s stock worth $147,937,000 after buying an additional 32,483 shares during the last quarter. RTW Investments LP acquired a new stake in RadNet in the 4th quarter worth $23,073,000. UniSuper Management Pty Ltd bought a new position in shares of RadNet during the 1st quarter worth about $683,000. Janus Henderson Group PLC raised its position in shares of RadNet by 108.6% during the first quarter. Janus Henderson Group PLC now owns 64,029 shares of the medical research company’s stock valued at $3,112,000 after buying an additional 33,335 shares during the last quarter. Finally, Russell Investments Group Ltd. grew its position in RadNet by 103.4% during the first quarter. Russell Investments Group Ltd. now owns 249,898 shares of the medical research company’s stock worth $12,160,000 after buying an additional 127,039 shares in the last quarter. Institutional investors own 77.90% of the company’s stock.

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.