RadNet, Inc. (NASDAQ:RDNT) Given Average Rating of "Buy" by Brokerages

Shares of RadNet, Inc. (NASDAQ:RDNT - Get Free Report) have been given an average recommendation of "Buy" by the five brokerages that are covering the stock, MarketBeat.com reports. Four equities research analysts have rated the stock with a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month price target among analysts that have issued ratings on the stock in the last year is $75.50.

A number of equities analysts have weighed in on RDNT shares. Jefferies Financial Group decreased their target price on RadNet from $100.00 to $80.00 and set a "buy" rating for the company in a research report on Wednesday, January 15th. Barclays cut 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. Finally, Truist Financial restated a "buy" rating and set a $88.00 price target (down from $94.00) on shares of RadNet in a research note on Wednesday, January 22nd.

Insider Activity at RadNet

In related news, insider Ranjan Jayanathan sold 38,557 shares of the business's stock in a transaction that occurred on Tuesday, November 19th. The stock was 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 directly owns 192,724 shares in the company, valued at approximately $15,417,920. The trade was a 16.67 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP David Jeffrey Katz sold 12,300 shares of the business's stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $81.65, for a total value of $1,004,295.00. Following the transaction, the executive vice president now 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. 5.12% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Canada Pension Plan Investment Board bought a new position in RadNet in the 4th quarter worth approximately $105,000. Marshall Wace LLP boosted its stake in RadNet by 11.5% in the 4th quarter. Marshall Wace LLP now owns 1,222,690 shares of the medical research company's stock worth $85,393,000 after purchasing an additional 125,844 shares during the period. Jump Financial LLC bought a new position in RadNet in the 4th quarter worth approximately $231,000. Barclays PLC boosted its stake in RadNet by 7.3% in the 4th quarter. Barclays PLC now owns 125,570 shares of the medical research company's stock worth $8,770,000 after purchasing an additional 8,592 shares during the period. Finally, Ameritas Investment Partners Inc. boosted its stake in RadNet by 3.3% in the 4th quarter. Ameritas Investment Partners Inc. now owns 6,917 shares of the medical research company's stock worth $483,000 after purchasing an additional 219 shares during the period. 77.90% of the stock is currently owned by institutional investors.

RadNet Stock Performance

NASDAQ:RDNT traded up $0.47 during mid-day trading on Monday, reaching $62.52. The company's stock had a trading volume of 853,808 shares, compared to its average volume of 805,955. RadNet has a 12-month low of $36.47 and a 12-month high of $93.65. The firm's fifty day moving average price is $69.46 and its two-hundred day moving average price is $68.97. The company has a current ratio of 2.16, a quick ratio of 2.16 and a debt-to-equity ratio of 0.89. The stock has a market cap of $4.63 billion, a P/E ratio of -893.02 and a beta of 1.79.

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.