Jefferies Financial Group Lowers RadNet (NASDAQ:RDNT) Price Target to $80.00

RadNet (NASDAQ:RDNT - Free Report) had its price objective cut by Jefferies Financial Group from $100.00 to $80.00 in a report issued on Wednesday morning,Benzinga reports. They currently have a buy rating on the medical research company's stock.

Several other equities analysts also recently weighed in on the stock. Barclays raised their price target on shares of RadNet from $79.00 to $85.00 and gave the stock an "overweight" rating in a research note on Wednesday, December 4th. Truist Financial boosted their price objective on shares of RadNet from $80.00 to $94.00 and gave the company a "buy" rating in a report on Friday, November 29th. Finally, Sidoti upgraded shares of RadNet to a "strong-buy" rating in a report on Friday, October 4th. One analyst has rated the stock with a sell rating, four have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $79.75.

RadNet Stock Performance

NASDAQ RDNT traded down $0.86 on Wednesday, hitting $60.88. 930,705 shares of the company's stock traded hands, compared to its average volume of 807,120. The firm has a market capitalization of $4.51 billion, a PE ratio of -869.59 and a beta of 1.79. The firm's 50-day moving average price is $76.22 and its two-hundred day moving average price is $68.54. The company has a current ratio of 2.16, a quick ratio of 2.16 and a debt-to-equity ratio of 0.89. RadNet has a 1-year low of $35.16 and a 1-year high of $93.65.

Insider Buying and Selling

In other news, EVP David Jeffrey Katz sold 12,300 shares of the business's stock in a transaction dated 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 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 sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Ranjan Jayanathan sold 38,557 shares of the business's stock in a transaction 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 sale, the insider now owns 192,724 shares in the company, valued at $15,417,920. The trade was a 16.67 % 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.

Institutional Trading of RadNet

Several institutional investors and hedge funds have recently modified their holdings of RDNT. Covestor Ltd lifted its position in shares of RadNet by 10,875.0% in the third quarter. Covestor Ltd now owns 439 shares of the medical research company's stock valued at $30,000 after acquiring an additional 435 shares in the last quarter. USA Financial Formulas acquired a new position in RadNet in the 4th quarter valued at about $30,000. Highline Wealth Partners LLC purchased a new position in RadNet in the 3rd quarter valued at about $68,000. Peterson Financial Group Inc. acquired a new stake in shares of RadNet during the 3rd quarter worth about $90,000. Finally, GAMMA Investing LLC grew its holdings in shares of RadNet by 57.3% during the third quarter. GAMMA Investing LLC now owns 1,361 shares of the medical research company's stock worth $94,000 after buying an additional 496 shares in the last quarter. Hedge funds and other institutional investors own 77.90% of the company's stock.

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.