RadNet (NASDAQ:RDNT) Given New $80.00 Price Target at Truist Financial

RadNet (NASDAQ:RDNT) had its price target increased by investment analysts at Truist Financial from $70.00 to $80.00 in a research report issued on Monday, Benzinga reports. The firm presently has a “buy” rating on the medical research company’s stock. Truist Financial’s target price would indicate a potential upside of 13.90% from the company’s previous close.

Other equities analysts also recently issued research reports about the company. Jefferies Financial Group upped their price objective on RadNet from $75.00 to $80.00 and gave the company a “buy” rating in a research note on Thursday. Barclays upgraded RadNet from an “equal weight” rating to an “overweight” rating and increased their price target for the stock from $57.00 to $79.00 in a research note on Friday, September 6th. One analyst has rated the stock with a sell rating and four have issued a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $74.75.

RadNet Stock Performance

NASDAQ:RDNT traded up $0.90 during trading on Monday, reaching $70.24. The company’s stock had a trading volume of 60,329 shares, compared to its average volume of 554,366. RadNet has a 12 month low of $25.11 and a 12 month high of $70.92. The firm has a market cap of $5.19 billion, a price-to-earnings ratio of 234.13 and a beta of 1.74. The firm has a 50 day moving average of $63.03 and a 200-day moving average of $56.85. The company has a debt-to-equity ratio of 0.92, a quick ratio of 2.12 and a current ratio of 2.12.

RadNet (NASDAQ:RDNT) last posted its quarterly earnings results on Wednesday, August 7th. The medical research company reported $0.16 earnings per share for the quarter, missing the consensus estimate of $0.17 by ($0.01). RadNet had a net margin of 0.58% and a return on equity of 4.30%. The company had revenue of $459.70 million for the quarter, compared to the consensus estimate of $438.53 million. During the same quarter in the previous year, the company posted $0.24 EPS. RadNet’s quarterly revenue was up 13.9% compared to the same quarter last year. Research analysts expect that RadNet will post 0.58 EPS for the current fiscal year.

Insider Buying and Selling at RadNet

In other news, EVP Michael N. Murdock sold 15,000 shares of the firm’s stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $62.78, for a total value of $941,700.00. Following the completion of the transaction, the executive vice president now directly owns 48,144 shares of the company’s stock, valued at $3,022,480.32. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 5.12% of the company’s stock.

Institutional Trading of RadNet

Institutional investors and hedge funds have recently bought and sold shares of the company. Nisa Investment Advisors LLC raised its position in shares of RadNet by 774.2% in the second quarter. Nisa Investment Advisors LLC now owns 848 shares of the medical research company’s stock worth $50,000 after buying an additional 751 shares in the last quarter. GAMMA Investing LLC boosted its position in shares of RadNet by 74.7% during the 2nd quarter. GAMMA Investing LLC now owns 865 shares of the medical research company’s stock valued at $51,000 after acquiring an additional 370 shares during the last quarter. Assetmark Inc. boosted its position in shares of RadNet by 35.2% during the 4th quarter. Assetmark Inc. now owns 3,183 shares of the medical research company’s stock valued at $111,000 after acquiring an additional 829 shares during the last quarter. SG Americas Securities LLC grew its holdings in shares of RadNet by 8.7% during the first quarter. SG Americas Securities LLC now owns 3,637 shares of the medical research company’s stock worth $177,000 after purchasing an additional 291 shares in the last quarter. Finally, MQS Management LLC bought a new position in shares of RadNet in the first quarter worth approximately $207,000. 77.90% of the stock is currently 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.