RadNet (NASDAQ:RDNT) PT Raised to $80.00

RadNet (NASDAQ:RDNT) had its price objective upped by stock analysts at Jefferies Financial Group from $75.00 to $80.00 in a note issued to investors on Thursday, Benzinga reports. The firm presently has a “buy” rating on the medical research company’s stock. Jefferies Financial Group’s target price would indicate a potential upside of 15.62% from the company’s previous close.

Several other equities analysts have also recently issued reports on the stock. Barclays upgraded shares of RadNet from an “equal weight” rating to an “overweight” rating and upped their price target for the company from $57.00 to $79.00 in a research report on Friday, September 6th. Truist Financial upped their price target on shares of RadNet from $63.00 to $70.00 and gave the company a “buy” rating in a research report on Monday, July 15th. One research analyst has rated the stock with a sell rating and four have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $72.25.

RadNet Stock Performance

RadNet stock traded up $2.08 during midday trading on Thursday, hitting $69.19. The company’s stock had a trading volume of 191,794 shares, compared to its average volume of 548,040. RadNet has a 1-year low of $25.11 and a 1-year high of $70.37. The company has a debt-to-equity ratio of 0.92, a current ratio of 2.12 and a quick ratio of 2.12. The company has a 50-day moving average price of $62.68 and a two-hundred day moving average price of $56.48. The company has a market cap of $5.11 billion, a price-to-earnings ratio of 230.63 and a beta of 1.74.

RadNet (NASDAQ:RDNT) last issued its quarterly earnings data on Wednesday, August 7th. The medical research company reported $0.16 earnings per share for the quarter, missing the consensus estimate of $0.17 by ($0.01). The business had revenue of $459.70 million during the quarter, compared to analyst estimates of $438.53 million. RadNet had a return on equity of 4.30% and a net margin of 0.58%. RadNet’s revenue for the quarter was up 13.9% compared to the same quarter last year. During the same quarter last year, the firm earned $0.24 EPS. As a group, sell-side analysts predict that RadNet will post 0.58 earnings per share for the current year.

Insider Buying and Selling

In other news, EVP Michael N. Murdock sold 15,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $62.78, for a total value of $941,700.00. Following the completion of the transaction, the executive vice president now directly owns 48,144 shares in the company, valued at $3,022,480.32. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 5.12% of the stock is currently owned by corporate insiders.

Institutional Trading of RadNet

Hedge funds and other institutional investors have recently modified their holdings of the business. Vanguard Group Inc. grew its position in shares of RadNet by 0.8% in the 4th quarter. Vanguard Group Inc. now owns 4,254,717 shares of the medical research company’s stock worth $147,937,000 after buying an additional 32,483 shares during the period. RTW Investments LP bought a new position in RadNet in the 4th quarter worth about $23,073,000. UniSuper Management Pty Ltd bought a new position in RadNet in the 1st quarter worth about $683,000. Janus Henderson Group PLC boosted its stake in RadNet by 108.6% in the 1st quarter. Janus Henderson Group PLC now owns 64,029 shares of the medical research company’s stock worth $3,112,000 after purchasing an additional 33,335 shares in the last quarter. Finally, Russell Investments Group Ltd. boosted its stake in RadNet by 103.4% in the 1st quarter. Russell Investments Group Ltd. now owns 249,898 shares of the medical research company’s stock worth $12,160,000 after purchasing an additional 127,039 shares in the last quarter. 77.90% of the stock is owned by hedge funds and other institutional investors.

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.