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

RadNet, Inc. (NASDAQ:RDNT - Get Free Report) has received an average rating of "Buy" from the five brokerages that are presently covering the stock, Marketbeat.com reports. Four investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. The average 1 year price objective among brokers that have updated their coverage on the stock in the last year is $74.75.

A number of equities research analysts recently weighed in on RDNT shares. Barclays upgraded shares of RadNet from an "equal weight" rating to an "overweight" rating and lifted their price objective for the company from $57.00 to $79.00 in a report on Friday, September 6th. Sidoti upgraded RadNet to a "strong-buy" rating in a report on Friday, October 4th. Jefferies Financial Group increased their price objective on RadNet from $75.00 to $80.00 and gave the stock a "buy" rating in a research note on Thursday, September 19th. Finally, Truist Financial lifted their target price on RadNet from $70.00 to $80.00 and gave the company a "buy" rating in a research report on Monday, September 23rd.

RadNet Trading Up 2.9 %

RadNet stock traded up $2.39 during mid-day trading on Wednesday, hitting $83.84. The company's stock had a trading volume of 169,964 shares, compared to its average volume of 550,641. RadNet has a one year low of $32.15 and a one year high of $93.65. The stock has a market cap of $6.21 billion, a PE ratio of -1,163.41 and a beta of 1.75. The company has a 50 day moving average of $71.61 and a 200-day moving average of $64.59. The company has a debt-to-equity ratio of 0.89, a quick ratio of 2.16 and a current ratio of 2.16.

Insider Buying and Selling

In related news, insider Ranjan Jayanathan sold 38,557 shares of the company's stock in a transaction dated 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 sale, the insider now owns 192,724 shares of the company's stock, valued at approximately $15,417,920. This represents a 16.67 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 5.12% of the stock is owned by company insiders.

Institutional Trading of RadNet

Hedge funds and other institutional investors have recently modified their holdings of the stock. Franklin Resources Inc. boosted its position in shares of RadNet by 12.0% during the 3rd quarter. Franklin Resources Inc. now owns 387,061 shares of the medical research company's stock worth $27,334,000 after purchasing an additional 41,381 shares during the period. Sanctuary Advisors LLC purchased a new position in RadNet during the third quarter worth about $211,000. Virtue Capital Management LLC lifted its position in RadNet by 1.4% in the third quarter. Virtue Capital Management LLC now owns 19,389 shares of the medical research company's stock valued at $1,345,000 after purchasing an additional 264 shares during the period. Geode Capital Management LLC boosted its holdings in RadNet by 0.8% in the 3rd quarter. Geode Capital Management LLC now owns 1,555,214 shares of the medical research company's stock valued at $107,936,000 after purchasing an additional 11,613 shares in the last quarter. Finally, Barclays PLC increased its position in RadNet by 373.8% during the 3rd quarter. Barclays PLC now owns 116,978 shares of the medical research company's stock worth $8,118,000 after purchasing an additional 92,291 shares during the period. 77.90% of the stock is owned by institutional investors and hedge funds.

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.