RadNet's (RDNT) "Buy" Rating Reiterated at Truist Financial

Truist Financial restated their buy rating on shares of RadNet (NASDAQ:RDNT - Free Report) in a report released on Wednesday morning,Benzinga reports. They currently have a $88.00 price objective on the medical research company's stock, down from their previous price objective of $94.00.

A number of other analysts have also recently commented on RDNT. Jefferies Financial Group cut their target price on RadNet from $100.00 to $80.00 and set a "buy" rating on the stock in a research report on Wednesday, January 15th. Sidoti upgraded RadNet to a "strong-buy" rating in a research note on Friday, October 4th. Finally, Barclays decreased their price objective on RadNet from $85.00 to $74.00 and set an "overweight" rating for the company in a report on Wednesday. One analyst has rated the stock with a sell rating, four have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $75.50.

RadNet Stock Up 5.9 %

NASDAQ:RDNT traded up $3.54 during midday trading on Wednesday, hitting $63.73. 1,898,133 shares of the company were exchanged, compared to its average volume of 893,517. RadNet has a fifty-two week low of $35.16 and a fifty-two week high of $93.65. The company has a market capitalization of $4.72 billion, a PE ratio of -910.30 and a beta of 1.79. 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 company has a fifty day simple moving average of $74.76 and a 200 day simple moving average of $68.64.

Insiders Place Their Bets

In other RadNet news, 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 in the company, valued at approximately $15,417,920. This represents a 16.67 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP David Jeffrey Katz sold 12,300 shares of the firm's stock in a transaction on Monday, November 25th. The stock was sold at an average price of $81.65, for a total transaction of $1,004,295.00. Following the completion of the sale, the executive vice president now owns 62,909 shares of the company's stock, valued at $5,136,519.85. This trade represents a 16.35 % decrease in their position. The disclosure for this sale can be found here. 5.12% of the stock is owned by insiders.

Hedge Funds Weigh In On RadNet

Several hedge funds and other institutional investors have recently bought and sold shares of the company. KBC Group NV grew its position in shares of RadNet by 47.6% in the fourth quarter. KBC Group NV now owns 2,678 shares of the medical research company's stock valued at $187,000 after purchasing an additional 864 shares during the last quarter. Fifth Third Bancorp grew its holdings in RadNet by 84.3% in the 4th quarter. Fifth Third Bancorp now owns 667 shares of the medical research company's stock valued at $47,000 after buying an additional 305 shares during the period. Nisa Investment Advisors LLC grew its holdings in RadNet by 20.0% in the fourth quarter. Nisa Investment Advisors LLC now owns 4,291 shares of the medical research company's stock valued at $300,000 after purchasing an additional 716 shares during the period. Connective Portfolio Management LLC acquired a new position in RadNet during the fourth quarter worth approximately $2,177,000. Finally, USA Financial Formulas purchased a new position in shares of RadNet in the 4th quarter worth $30,000. 77.90% of the stock is owned by institutional investors and hedge funds.

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.