Truist Financial Raises RadNet (NASDAQ:RDNT) Price Target to $94.00

RadNet (NASDAQ:RDNT) had its target price raised by Truist Financial from $80.00 to $94.00 in a report issued on Friday,Benzinga reports. The firm presently has a “buy” rating on the medical research company’s stock. Truist Financial’s price objective would indicate a potential upside of 14.97% from the company’s previous close.

Several other equities research analysts have also issued reports on RDNT. Sidoti upgraded shares of RadNet to a “strong-buy” rating in a research note on Friday, October 4th. Barclays raised RadNet from an “equal weight” rating to an “overweight” rating and lifted their target price for the company from $57.00 to $79.00 in a research report on Friday, September 6th. Finally, Jefferies Financial Group upped their target price on RadNet from $75.00 to $80.00 and gave the stock a “buy” rating in a report on Thursday, September 19th. One 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 stock. According to MarketBeat.com, RadNet has an average rating of “Moderate Buy” and an average price target of $78.25.

RadNet Trading Down 0.9 %

RDNT opened at $81.76 on Friday. The stock has a market capitalization of $6.05 billion, a P/E ratio of -1,168.00 and a beta of 1.75. 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 has a 12 month low of $32.37 and a 12 month high of $93.65. The firm’s fifty day simple moving average is $72.43 and its 200 day simple moving average is $65.08.

Insider Transactions at RadNet

In other news, 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 transaction of $3,084,560.00. Following the completion of the transaction, the insider now directly owns 192,724 shares in the company, valued at approximately $15,417,920. The trade was a 16.67 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, 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 value of $1,004,295.00. Following the transaction, the executive vice president now directly 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 disclosure for this sale can be found here. 5.12% of the stock is owned by company insiders.

Institutional Trading of RadNet

Hedge funds have recently modified their holdings of the stock. Covestor Ltd raised its holdings in RadNet by 10,875.0% in the 3rd quarter. Covestor Ltd now owns 439 shares of the medical research company’s stock valued at $30,000 after acquiring an additional 435 shares during the period. Nisa Investment Advisors LLC increased its stake in shares of RadNet by 774.2% during the second quarter. Nisa Investment Advisors LLC now owns 848 shares of the medical research company’s stock worth $50,000 after purchasing an additional 751 shares during the period. GAMMA Investing LLC lifted its holdings in RadNet by 74.7% during the 2nd quarter. GAMMA Investing LLC now owns 865 shares of the medical research company’s stock worth $51,000 after purchasing an additional 370 shares during the last quarter. Highline Wealth Partners LLC acquired a new stake in RadNet during the 3rd quarter worth approximately $68,000. Finally, Peterson Financial Group Inc. bought a new stake in RadNet in the 3rd quarter valued at $90,000. Institutional investors and hedge funds 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.