Analysts Set RadNet, Inc. (NASDAQ:RDNT) Price Target at $84.75

RadNet, Inc. (NASDAQ:RDNT) has been assigned a consensus recommendation of “Buy” from the five analysts that are presently covering the stock, MarketBeat reports. Four research analysts have rated the stock with a buy rating and one has issued a strong buy rating on the company. The average 1-year target price among brokers that have issued a report on the stock in the last year is $84.75.

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

Insider Buying and Selling

In other RadNet news, insider Ranjan Jayanathan sold 38,557 shares of the company’s stock in a transaction dated 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 sale, the insider now owns 192,724 shares of the company’s stock, valued at $15,417,920. This represents a 16.67 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP David Jeffrey Katz sold 12,300 shares of the firm’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 transaction, the executive vice president now directly owns 62,909 shares of the company’s stock, valued at approximately $5,136,519.85. This trade represents a 16.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 5.12% of the company’s stock.

Institutional Trading of RadNet

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. State Street Corp boosted its holdings in shares of RadNet by 1.3% during the third quarter. State Street Corp now owns 2,446,179 shares of the medical research company’s stock worth $169,740,000 after purchasing an additional 30,244 shares during the last quarter. Geode Capital Management LLC grew its holdings in RadNet by 0.8% in the 3rd quarter. Geode Capital Management LLC now owns 1,555,214 shares of the medical research company’s stock valued at $107,936,000 after buying an additional 11,613 shares during the period. Principal Financial Group Inc. increased its stake in shares of RadNet by 8.5% during the 3rd quarter. Principal Financial Group Inc. now owns 1,506,545 shares of the medical research company’s stock valued at $104,539,000 after acquiring an additional 118,501 shares during the last quarter. JB Capital Partners LP lifted its holdings in shares of RadNet by 15.9% during the 3rd quarter. JB Capital Partners LP now owns 1,504,061 shares of the medical research company’s stock worth $104,367,000 after acquiring an additional 206,850 shares during the period. Finally, Allspring Global Investments Holdings LLC boosted its position in shares of RadNet by 11.8% in the third quarter. Allspring Global Investments Holdings LLC now owns 1,131,849 shares of the medical research company’s stock worth $78,539,000 after acquiring an additional 119,875 shares during the last quarter. Hedge funds and other institutional investors own 77.90% of the company’s stock.

RadNet Stock Up 1.0 %

RDNT stock opened at $73.36 on Friday. The company has a market cap of $5.43 billion, a price-to-earnings ratio of -1,047.85 and a beta of 1.77. The company has a fifty day moving average price of $75.34 and a 200 day moving average price of $67.27. The company has a debt-to-equity ratio of 0.89, a current ratio of 2.16 and a quick ratio of 2.16. RadNet has a 12 month low of $33.44 and a 12 month high of $93.65.

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.