RadNet, Inc. (NASDAQ:RDNT) Given Average Rating of “Buy” by Brokerages

RadNet, Inc. (NASDAQ:RDNT) has earned a consensus recommendation of “Buy” from the five analysts that are covering the firm, Marketbeat.com reports. Four investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. The average 1-year price objective among analysts that have updated their coverage on the stock in the last year is $84.75.

Several analysts recently commented on the company. Truist Financial boosted their price target on RadNet from $80.00 to $94.00 and gave the company a “buy” rating in a research note on Friday, November 29th. Barclays boosted their target price on shares of RadNet from $79.00 to $85.00 and gave the company an “overweight” rating in a research note on Wednesday, December 4th. Jefferies Financial Group lifted their price target on shares of RadNet from $82.00 to $100.00 and gave the company a “buy” rating in a report on Thursday, December 5th. Finally, Sidoti raised shares of RadNet to a “strong-buy” rating in a research note on Friday, October 4th.

Insider Activity at RadNet

In other RadNet news, 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 transaction of $1,004,295.00. Following the completion of the sale, the executive vice president now directly 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 position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Ranjan Jayanathan sold 38,557 shares of the stock in a transaction that occurred 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 completion of the transaction, the insider now owns 192,724 shares in the company, valued at $15,417,920. This 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 company insiders.

Institutional Investors Weigh In On RadNet

Hedge funds have recently bought and sold shares of the company. Lisanti Capital Growth LLC bought a new stake in shares of RadNet in the 3rd quarter valued at $2,922,000. Intech Investment Management LLC acquired a new position in RadNet in the second quarter valued at about $446,000. Pathstone Holdings LLC increased its holdings in shares of 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. Franklin Resources Inc. raised its position in shares of RadNet by 12.0% during the third quarter. Franklin Resources Inc. now owns 387,061 shares of the medical research company’s stock worth $27,334,000 after purchasing an additional 41,381 shares during the period. Finally, Steigerwald Gordon & Koch Inc. lifted its holdings in shares of RadNet by 153.9% during the 2nd quarter. Steigerwald Gordon & Koch Inc. now owns 15,470 shares of the medical research company’s stock valued at $911,000 after purchasing an additional 9,376 shares in the last quarter. 77.90% of the stock is currently owned by institutional investors and hedge funds.

RadNet Stock Up 1.8 %

NASDAQ RDNT opened at $72.70 on Friday. RadNet has a 1-year low of $33.44 and a 1-year high of $93.65. The company has a market capitalization of $5.38 billion, a price-to-earnings ratio of -1,038.42 and a beta of 1.77. The stock’s 50 day moving average is $75.30 and its two-hundred day moving average is $67.14. 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.