Analysts Set RadNet, Inc. (NASDAQ:RDNT) Target Price at $74.75

Shares of RadNet, Inc. (NASDAQ:RDNT) have been assigned a consensus rating of “Buy” from the five research firms that are covering the stock, MarketBeat.com reports. Four analysts have rated the stock with a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year target price among brokers that have updated their coverage on the stock in the last year is $74.75.

A number of research firms have recently commented on RDNT. Jefferies Financial Group increased their target price on shares of RadNet from $75.00 to $80.00 and gave the stock a “buy” rating in a report on Thursday, September 19th. Sidoti raised 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 boosted their price objective for the company from $57.00 to $79.00 in a research note on Friday, September 6th. Finally, Truist Financial increased their price target on RadNet from $70.00 to $80.00 and gave the stock a “buy” rating in a report on Monday, September 23rd.

RadNet Stock Performance

NASDAQ:RDNT opened at $67.99 on Friday. The stock has a 50 day simple moving average of $66.94 and a 200 day simple moving average of $61.36. RadNet has a 1-year low of $28.27 and a 1-year high of $72.18. The stock has a market cap of $5.03 billion, a P/E ratio of 485.64 and a beta of 1.75. The company has a current ratio of 2.12, a quick ratio of 2.12 and a debt-to-equity ratio of 0.92.

RadNet (NASDAQ:RDNT) last released its earnings results on Wednesday, August 7th. The medical research company reported $0.16 earnings per share for the quarter, missing analysts’ consensus estimates 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 earnings per share. The business’s revenue was up 13.9% compared to the same quarter last year. Research analysts anticipate that RadNet will post 0.59 earnings per share for the current year.

Insider Buying and Selling at RadNet

In other news, EVP Michael N. Murdock sold 15,000 shares of the business’s stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $62.78, for a total transaction of $941,700.00. Following the completion of the sale, the executive vice president now owns 48,144 shares of the company’s stock, valued at $3,022,480.32. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 5.12% of the company’s stock.

Institutional Trading of RadNet

A number of institutional investors and hedge funds have recently bought and sold shares of RDNT. Vanguard Group Inc. lifted its position in shares of RadNet by 8.1% during the first quarter. Vanguard Group Inc. now owns 4,600,539 shares of the medical research company’s stock worth $223,862,000 after purchasing an additional 345,822 shares during the last quarter. Principal Financial Group Inc. lifted its position in shares of RadNet by 8.5% during the third quarter. Principal Financial Group Inc. now owns 1,506,545 shares of the medical research company’s stock valued at $104,539,000 after buying an additional 118,501 shares during the last quarter. Allspring Global Investments Holdings LLC lifted its position in RadNet by 11.8% during the third quarter. Allspring Global Investments Holdings LLC now owns 1,131,849 shares of the medical research company’s stock valued at $78,539,000 after acquiring an additional 119,875 shares during the last quarter. Hood River Capital Management LLC raised its stake in RadNet by 5.1% in the second quarter. Hood River Capital Management LLC now owns 1,125,712 shares of the medical research company’s stock valued at $66,327,000 after buying an additional 54,583 shares during the last quarter. Finally, Global Alpha Capital Management Ltd. lifted its stake in shares of RadNet by 16.2% during the first quarter. Global Alpha Capital Management Ltd. now owns 1,019,934 shares of the medical research company’s stock worth $49,630,000 after buying an additional 141,830 shares during the period. 77.90% of the stock is currently owned by 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.