RadNet, Inc. (NASDAQ:RDNT) Receives $79.75 Average Target Price from Brokerages

Shares of RadNet, Inc. (NASDAQ:RDNT - Get Free Report) have earned a consensus recommendation of "Buy" from the five research firms that are covering the stock, MarketBeat reports. Four research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. The average 12 month price target among brokerages that have issued ratings on the stock in the last year is $79.75.

RDNT has been the topic of several recent research reports. Truist Financial lifted their price objective on shares of RadNet from $80.00 to $94.00 and gave the stock a "buy" rating in a research note on Friday, November 29th. Sidoti upgraded shares of RadNet to a "strong-buy" rating in a research report on Friday, October 4th. Barclays increased their price objective on RadNet from $79.00 to $85.00 and gave the company an "overweight" rating in a research report on Wednesday, December 4th. Finally, Jefferies Financial Group reduced their price objective on RadNet from $100.00 to $80.00 and set a "buy" rating for the company in a research note on Wednesday.

Insider Activity

In other news, insider Ranjan Jayanathan sold 38,557 shares of the firm's stock in a transaction on Tuesday, November 19th. The stock was sold at an average price of $80.00, for a total value 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 $15,417,920. This trade represents a 16.67 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, EVP David Jeffrey Katz sold 12,300 shares of the company's stock in a transaction 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 directly owns 62,909 shares in the company, valued at $5,136,519.85. The trade was 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 owned by company insiders.

Hedge Funds Weigh In On RadNet

Large investors have recently made changes to their positions in the business. Covestor Ltd boosted its holdings in shares of RadNet by 10,875.0% during the third quarter. Covestor Ltd now owns 439 shares of the medical research company's stock worth $30,000 after purchasing an additional 435 shares during the period. USA Financial Formulas purchased a new stake in RadNet in the 4th quarter worth approximately $30,000. Highline Wealth Partners LLC acquired a new stake in shares of RadNet during the 3rd quarter valued at $68,000. Peterson Financial Group Inc. purchased a new position in shares of RadNet during the 3rd quarter valued at $90,000. Finally, GAMMA Investing LLC increased its stake in shares of RadNet by 57.3% in the third quarter. GAMMA Investing LLC now owns 1,361 shares of the medical research company's stock worth $94,000 after acquiring an additional 496 shares during the last quarter. Institutional investors and hedge funds own 77.90% of the company's stock.

RadNet Price Performance

NASDAQ:RDNT traded down $0.86 during mid-day trading on Thursday, reaching $60.88. 930,705 shares of the stock were exchanged, compared to its average volume of 807,120. RadNet has a 1-year low of $35.16 and a 1-year high of $93.65. 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 firm has a market capitalization of $4.51 billion, a PE ratio of -869.59 and a beta of 1.79. The business has a fifty day moving average price of $76.01 and a 200 day moving average price of $68.49.

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.