RadNet, Inc. (NASDAQ:RDNT) Receives $74.75 Consensus Target Price from Brokerages

Shares of RadNet, Inc. (NASDAQ:RDNT) have been assigned a consensus rating of “Buy” from the five research firms that are currently covering the company, MarketBeat reports. Four analysts have rated the stock with a buy recommendation and one has issued a strong buy recommendation on the company. The average 1-year target price among brokerages that have issued ratings on the stock in the last year is $78.25.

RDNT has been the topic of a number of recent research reports. Sidoti raised RadNet to a “strong-buy” rating in a research report on Friday, October 4th. Truist Financial lifted their price objective on RadNet from $80.00 to $94.00 and gave the stock a “buy” rating in a report on Friday. Jefferies Financial Group upped their target price on RadNet from $75.00 to $80.00 and gave the company a “buy” rating in a research note on Thursday, September 19th. Finally, Barclays upgraded shares of RadNet from an “equal weight” rating to an “overweight” rating and lifted their price target for the stock from $57.00 to $79.00 in a research note on Friday, September 6th.

RadNet Price Performance

Shares of RadNet stock opened at $81.76 on Wednesday. The company has a debt-to-equity ratio of 0.89, a current ratio of 2.16 and a quick ratio of 2.16. The company has a market cap of $6.05 billion, a PE ratio of -1,168.00 and a beta of 1.75. The firm has a fifty day moving average price of $72.43 and a two-hundred day moving average price of $65.02. RadNet has a fifty-two week low of $32.37 and a fifty-two week high of $93.65.

Insider Activity at RadNet

In other news, insider Ranjan Jayanathan sold 38,557 shares of the firm’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 transaction of $3,084,560.00. Following the completion of the sale, 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 ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP David Jeffrey Katz sold 12,300 shares of RadNet stock in a transaction that occurred on Monday, November 25th. The shares were 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 of the company’s stock, valued at $5,136,519.85. This trade represents a 16.35 % decrease in their position. The disclosure for this sale can be found here. 5.12% of the stock is owned by insiders.

Institutional Investors Weigh In On RadNet

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Allspring Global Investments Holdings LLC raised its stake in shares of RadNet by 103.8% in the second quarter. Allspring Global Investments Holdings LLC now owns 1,011,974 shares of the medical research company’s stock worth $59,626,000 after acquiring an additional 515,342 shares during the last quarter. Portolan Capital Management LLC increased its holdings in shares of RadNet by 384.8% in the third quarter. Portolan Capital Management LLC now owns 491,358 shares of the medical research company’s stock valued at $34,095,000 after purchasing an additional 390,011 shares in the last quarter. Vanguard Group Inc. increased its holdings in shares of RadNet by 8.1% in the first quarter. Vanguard Group Inc. now owns 4,600,539 shares of the medical research company’s stock valued at $223,862,000 after purchasing an additional 345,822 shares in the last quarter. Harbor Capital Advisors Inc. lifted its holdings in RadNet by 130.5% during the 3rd quarter. Harbor Capital Advisors Inc. now owns 402,205 shares of the medical research company’s stock worth $27,909,000 after buying an additional 227,713 shares in the last quarter. Finally, Cerity Partners LLC boosted its position in RadNet by 131.4% in the 3rd quarter. Cerity Partners LLC now owns 387,536 shares of the medical research company’s stock valued at $26,891,000 after buying an additional 220,068 shares during the last quarter. 77.90% of the stock is owned by institutional investors and hedge funds.

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.