RadNet (NASDAQ:RDNT) Given New $85.00 Price Target at Barclays

RadNet (NASDAQ:RDNT) had its price target boosted by equities research analysts at Barclays from $79.00 to $85.00 in a research report issued on Wednesday,Benzinga reports. The firm presently has an “overweight” rating on the medical research company’s stock. Barclays‘s target price suggests a potential upside of 5.41% from the company’s current price.

RDNT has been the subject of a number of other research reports. Truist Financial raised their price objective on RadNet from $80.00 to $94.00 and gave the company a “buy” rating in a research report on Friday, November 29th. Jefferies Financial Group raised their price objective on RadNet from $75.00 to $80.00 and gave the company a “buy” rating in a research report on Thursday, September 19th. Finally, Sidoti upgraded RadNet to a “strong-buy” rating in a research report on Friday, October 4th. One research analyst has rated the stock with a sell rating, four have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $79.75.

RadNet Trading Down 2.7 %

Shares of RadNet stock opened at $80.64 on Wednesday. The firm has a market cap of $5.97 billion, a price-to-earnings ratio of -1,151.84 and a beta of 1.77. The business has a 50-day moving average price of $72.88 and a 200-day moving average price of $65.47. The company has a quick ratio of 2.16, a current ratio of 2.16 and a debt-to-equity ratio of 0.89. RadNet has a twelve month low of $33.44 and a twelve month high of $93.65.

Insider Buying and Selling

In other RadNet news, EVP David Jeffrey Katz sold 12,300 shares of the business’s stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $81.65, for a total transaction 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 $5,136,519.85. The trade was a 16.35 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Ranjan Jayanathan sold 38,557 shares of the business’s stock in a transaction that occurred on Tuesday, November 19th. The shares were sold at an average price of $80.00, for a total value of $3,084,560.00. Following the transaction, the insider now owns 192,724 shares of the company’s stock, valued at $15,417,920. This trade represents a 16.67 % decrease in their position. The disclosure for this sale can be found here. 5.12% of the stock is currently owned by company insiders.

Institutional Trading of RadNet

Several institutional investors and hedge funds have recently modified their holdings of RDNT. Covestor Ltd raised its stake in RadNet by 10,875.0% in the third quarter. Covestor Ltd now owns 439 shares of the medical research company’s stock worth $30,000 after buying an additional 435 shares in the last quarter. Nisa Investment Advisors LLC raised its stake in RadNet by 774.2% in the second quarter. Nisa Investment Advisors LLC now owns 848 shares of the medical research company’s stock worth $50,000 after buying an additional 751 shares in the last quarter. GAMMA Investing LLC raised its stake in RadNet by 74.7% in the second quarter. GAMMA Investing LLC now owns 865 shares of the medical research company’s stock worth $51,000 after buying an additional 370 shares in the last quarter. Highline Wealth Partners LLC bought a new position in RadNet in the third quarter worth approximately $68,000. Finally, Peterson Financial Group Inc. bought a new position in RadNet in the third quarter worth approximately $90,000. 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.