Brokerages Set RadNet, Inc. (NASDAQ:RDNT) Target Price at $75.50

Shares of RadNet, Inc. (NASDAQ:RDNT) have been assigned a consensus recommendation of “Buy” from the five ratings firms that are covering the company, Marketbeat Ratings reports. Four analysts have rated the stock with a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year price objective among brokerages that have covered the stock in the last year is $75.50.

Several brokerages have issued reports on RDNT. Barclays dropped their price target on RadNet from $85.00 to $74.00 and set an “overweight” rating for the company in a research note on Wednesday, January 22nd. Jefferies Financial Group dropped their price target on RadNet from $100.00 to $80.00 and set a “buy” rating for the company in a research note on Wednesday, January 15th. Finally, Truist Financial reaffirmed a “buy” rating and set a $88.00 price target (down previously from $94.00) on shares of RadNet in a research note on Wednesday, January 22nd.

Insider Activity

In other RadNet news, EVP David Jeffrey Katz sold 12,300 shares of the company’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 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 represents a 16.35 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Ranjan Jayanathan sold 38,557 shares of the company’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 value of $3,084,560.00. Following the transaction, the insider now directly owns 192,724 shares of the company’s stock, valued at $15,417,920. The trade was a 16.67 % decrease in their position. The disclosure for this sale can be found here. 5.12% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. HighTower Advisors LLC raised its position in RadNet by 1.8% during the 3rd quarter. HighTower Advisors LLC now owns 7,861 shares of the medical research company’s stock valued at $545,000 after purchasing an additional 136 shares during the last quarter. AQR Capital Management LLC raised its position in RadNet by 3.2% during the 2nd quarter. AQR Capital Management LLC now owns 5,131 shares of the medical research company’s stock valued at $302,000 after purchasing an additional 160 shares during the last quarter. Chartwell Investment Partners LLC raised its position in RadNet by 0.8% during the 3rd quarter. Chartwell Investment Partners LLC now owns 24,883 shares of the medical research company’s stock valued at $1,726,000 after purchasing an additional 193 shares during the last quarter. Highland Capital Management LLC raised its position in RadNet by 6.5% during the 4th quarter. Highland Capital Management LLC now owns 3,307 shares of the medical research company’s stock valued at $231,000 after purchasing an additional 202 shares during the last quarter. Finally, Summit Financial LLC grew its holdings in shares of RadNet by 2.4% during the 4th quarter. Summit Financial LLC now owns 11,111 shares of the medical research company’s stock worth $776,000 after acquiring an additional 262 shares during the period. Institutional investors own 77.90% of the company’s stock.

RadNet Trading Up 0.4 %

Shares of RDNT stock opened at $62.05 on Monday. The company has a quick ratio of 2.16, a current ratio of 2.16 and a debt-to-equity ratio of 0.89. The business has a 50-day moving average price of $69.84 and a two-hundred day moving average price of $69.02. RadNet has a 12-month low of $36.47 and a 12-month high of $93.65. The firm has a market cap of $4.59 billion, a P/E ratio of -886.30 and a beta of 1.79.

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.