Truist Financial Issues Positive Forecast for RadNet (NASDAQ:RDNT) Stock Price

RadNet (NASDAQ:RDNT - Free Report) had its price target hoisted by Truist Financial from $80.00 to $94.00 in a research note issued to investors on Friday,Benzinga reports. Truist Financial currently has a buy rating on the medical research company's stock.

Several other equities research analysts have also recently weighed in on the stock. Barclays raised shares of RadNet from an "equal weight" rating to an "overweight" rating and increased their price target for the company from $57.00 to $79.00 in a research report on Friday, September 6th. Jefferies Financial Group increased their price target on shares of RadNet from $75.00 to $80.00 and gave the company a "buy" rating in a research report on Thursday, September 19th. Finally, Sidoti raised shares of RadNet to a "strong-buy" rating in a research report on Friday, October 4th. One analyst has rated the stock with a sell rating, four have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $78.25.

RadNet Trading Down 0.9 %

Shares of RDNT stock traded down $0.73 on Friday, hitting $81.76. 425,108 shares of the company's stock traded hands, compared to its average volume of 551,174. The company has a debt-to-equity ratio of 0.89, a quick ratio of 2.16 and a current ratio of 2.16. RadNet has a one year low of $32.37 and a one year high of $93.65. The company's fifty day simple moving average is $72.43 and its 200 day simple moving average is $65.08. The stock has a market capitalization of $6.05 billion, a price-to-earnings ratio of -1,168.00 and a beta of 1.75.

Insider Activity at RadNet

In other RadNet news, insider Ranjan Jayanathan sold 38,557 shares of the firm'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 directly owns 192,724 shares in the company, valued at approximately $15,417,920. This trade represents a 16.67 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP David Jeffrey Katz sold 12,300 shares of the firm'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 sale, the executive vice president now owns 62,909 shares of the company's stock, valued at approximately $5,136,519.85. This 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 Trading of RadNet

A number of large investors have recently made changes to their positions in the stock. Allspring Global Investments Holdings LLC grew its stake in shares of RadNet by 103.8% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 1,011,974 shares of the medical research company's stock valued at $59,626,000 after purchasing an additional 515,342 shares during the period. Portolan Capital Management LLC boosted its holdings in shares of RadNet by 384.8% in the third quarter. Portolan Capital Management LLC now owns 491,358 shares of the medical research company's stock worth $34,095,000 after buying an additional 390,011 shares during the last quarter. Harbor Capital Advisors Inc. grew its position in RadNet by 130.5% during the third quarter. Harbor Capital Advisors Inc. now owns 402,205 shares of the medical research company's stock valued at $27,909,000 after buying an additional 227,713 shares during the period. Cerity Partners LLC increased its holdings in RadNet by 131.4% during the third quarter. Cerity Partners LLC now owns 387,536 shares of the medical research company's stock valued at $26,891,000 after buying an additional 220,068 shares during the last quarter. Finally, JB Capital Partners LP raised its position in RadNet by 15.9% in the third quarter. JB Capital Partners LP now owns 1,504,061 shares of the medical research company's stock worth $104,367,000 after acquiring an additional 206,850 shares during the period. 77.90% of the stock is currently owned by institutional investors.

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.