RadNet (NASDAQ:RDNT - Get Free Report) had its price objective cut by Barclays from $85.00 to $74.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The brokerage presently has an "overweight" rating on the medical research company's stock. Barclays's price target would suggest a potential upside of 16.11% from the stock's previous close.
A number of other equities analysts have also weighed in on RDNT. Sidoti upgraded RadNet to a "strong-buy" rating in a research note on Friday, October 4th. Truist Financial raised their target price on RadNet from $80.00 to $94.00 and gave the company a "buy" rating in a research report on Friday, November 29th. Finally, Jefferies Financial Group lowered their price objective on RadNet from $100.00 to $80.00 and set a "buy" rating on the stock in a report on Wednesday, January 15th. One equities research analyst has rated the stock with a sell rating, four have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $75.50.
Read Our Latest Report on RadNet
RadNet Stock Performance
RDNT stock traded up $3.54 during midday trading on Wednesday, reaching $63.73. The stock had a trading volume of 1,898,133 shares, compared to its average volume of 893,517. The stock has a market cap of $4.72 billion, a PE ratio of -910.30 and a beta of 1.79. The company has a debt-to-equity ratio of 0.89, a quick ratio of 2.16 and a current ratio of 2.16. The firm has a fifty day simple moving average of $74.76 and a two-hundred day simple moving average of $68.64. RadNet has a 52-week low of $35.16 and a 52-week high of $93.65.
Insiders Place Their Bets
In related news, EVP David Jeffrey Katz sold 12,300 shares of the business's stock in a transaction on Monday, November 25th. The shares were 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 in the company, valued at approximately $5,136,519.85. The trade was a 16.35 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Ranjan Jayanathan sold 38,557 shares of the company's stock in a transaction on Tuesday, November 19th. The shares were sold at an average price of $80.00, for a total transaction of $3,084,560.00. Following the completion of the transaction, 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 position. The disclosure for this sale can be found here. Insiders own 5.12% of the company's stock.
Institutional Investors Weigh In On RadNet
A number of institutional investors and hedge funds have recently made changes to their positions in the business. Lisanti Capital Growth LLC purchased a new position in RadNet during the third quarter worth about $2,922,000. Franklin Resources Inc. grew its position in shares of RadNet by 12.0% in the third quarter. Franklin Resources Inc. now owns 387,061 shares of the medical research company's stock valued at $27,334,000 after purchasing an additional 41,381 shares during the last quarter. Intech Investment Management LLC acquired a new stake in RadNet during the second quarter worth approximately $446,000. Pathstone Holdings LLC boosted its position in RadNet by 58.5% during the third quarter. Pathstone Holdings LLC now owns 27,503 shares of the medical research company's stock worth $1,908,000 after acquiring an additional 10,151 shares during the last quarter. Finally, JPMorgan Chase & Co. boosted its position in RadNet by 1.4% during the third quarter. JPMorgan Chase & Co. now owns 132,997 shares of the medical research company's stock worth $9,229,000 after acquiring an additional 1,838 shares during the last quarter. 77.90% of the stock is owned by hedge funds and other institutional investors.
About RadNet
(
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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.
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