Jefferies Financial Group Forecasts Strong Price Appreciation for RadNet (NASDAQ:RDNT) Stock

RadNet (NASDAQ:RDNT) had its price target lifted by equities research analysts at Jefferies Financial Group from $82.00 to $100.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The firm currently has a “buy” rating on the medical research company’s stock. Jefferies Financial Group’s target price would indicate a potential upside of 22.53% from the stock’s previous close.

Other equities analysts have also recently issued research reports about the company. Truist Financial lifted their price objective on RadNet from $80.00 to $94.00 and gave the company a “buy” rating in a research note on Friday, November 29th. Barclays lifted their price target on shares of RadNet from $79.00 to $85.00 and gave the stock an “overweight” rating in a research note on Wednesday. Finally, Sidoti raised shares of 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 issued a strong buy rating to the company’s stock. According to MarketBeat.com, RadNet presently has an average rating of “Moderate Buy” and an average price target of $84.75.

RadNet Stock Up 3.1 %

Shares of NASDAQ RDNT opened at $81.61 on Thursday. RadNet has a 12-month low of $33.44 and a 12-month high of $93.65. The stock has a market cap of $6.04 billion, a P/E ratio of -1,165.86 and a beta of 1.77. The company has a current ratio of 2.16, a quick ratio of 2.16 and a debt-to-equity ratio of 0.89. The business’s fifty day simple moving average is $73.52 and its 200-day simple moving average is $65.83.

Insider Transactions at RadNet

In other news, insider Ranjan Jayanathan sold 38,557 shares of the business’s stock in a transaction dated Tuesday, November 19th. The stock was sold at an average price of $80.00, for a total value of $3,084,560.00. Following the completion of the sale, the insider now directly owns 192,724 shares of the company’s stock, valued at approximately $15,417,920. The trade was a 16.67 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP David Jeffrey Katz sold 12,300 shares of the stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $81.65, for a total value 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 $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. Corporate insiders own 5.12% of the company’s stock.

Institutional Trading of RadNet

Several institutional investors and hedge funds have recently added to or reduced their stakes in RDNT. Covestor Ltd increased its stake 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 buying an additional 435 shares during the period. Nisa Investment Advisors LLC lifted its position in shares of RadNet by 774.2% during the 2nd quarter. Nisa Investment Advisors LLC now owns 848 shares of the medical research company’s stock valued at $50,000 after acquiring an additional 751 shares during the period. GAMMA Investing LLC grew its holdings in shares of RadNet by 74.7% in the 2nd quarter. GAMMA Investing LLC now owns 865 shares of the medical research company’s stock worth $51,000 after acquiring an additional 370 shares during the period. Highline Wealth Partners LLC acquired a new stake in RadNet in the third quarter valued at $68,000. Finally, Peterson Financial Group Inc. acquired a new position in shares of RadNet during the 3rd quarter worth $90,000. 77.90% of the stock is owned by hedge funds and other institutional investors.

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.