RadNet (NASDAQ:RDNT) Price Target Raised to $80.00 at Truist Financial

RadNet (NASDAQ:RDNT) had its target price increased by investment analysts at Truist Financial from $70.00 to $80.00 in a research report issued to clients and investors on Monday, Benzinga reports. The firm presently has a “buy” rating on the medical research company’s stock. Truist Financial’s price target points to a potential upside of 13.90% from the stock’s previous close.

A number of other equities research analysts have also recently issued reports on RDNT. Barclays raised shares of RadNet from an “equal weight” rating to an “overweight” rating and upped their price objective for the company from $57.00 to $79.00 in a research note on Friday, September 6th. Jefferies Financial Group boosted their price target on shares of RadNet from $75.00 to $80.00 and gave the stock a “buy” rating in a research note on Thursday. One research analyst has rated the stock with a sell rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $74.75.

RadNet Price Performance

NASDAQ RDNT traded up $0.90 during trading hours on Monday, reaching $70.24. 60,329 shares of the stock traded hands, compared to its average volume of 554,366. The stock has a 50 day simple moving average of $63.03 and a two-hundred day simple moving average of $56.85. RadNet has a 1 year low of $25.11 and a 1 year high of $70.92. 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 market cap of $5.19 billion, a price-to-earnings ratio of 234.13 and a beta of 1.74.

RadNet (NASDAQ:RDNT) last announced its quarterly earnings data on Wednesday, August 7th. The medical research company reported $0.16 earnings per share for the quarter, missing analysts’ consensus estimates of $0.17 by ($0.01). The firm had revenue of $459.70 million for the quarter, compared to analysts’ expectations of $438.53 million. RadNet had a net margin of 0.58% and a return on equity of 4.30%. The business’s quarterly revenue was up 13.9% on a year-over-year basis. During the same period in the prior year, the business posted $0.24 earnings per share. On average, analysts predict that RadNet will post 0.58 EPS for the current fiscal year.

Insider Activity

In related news, EVP Michael N. Murdock sold 15,000 shares of RadNet stock in a transaction 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 transaction, the executive vice president now directly owns 48,144 shares of the company’s stock, valued at $3,022,480.32. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 5.12% of the company’s stock.

Institutional Trading of RadNet

Large investors have recently modified their holdings of the business. Dimensional Fund Advisors LP raised its position in RadNet by 4.3% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,744,124 shares of the medical research company’s stock valued at $60,646,000 after purchasing an additional 71,714 shares during the last quarter. Dynamic Technology Lab Private Ltd bought a new position in shares of RadNet during the fourth quarter valued at approximately $287,000. Assetmark Inc. lifted its stake in RadNet by 35.2% in the fourth quarter. Assetmark Inc. now owns 3,183 shares of the medical research company’s stock worth $111,000 after acquiring an additional 829 shares during the period. Hsbc Holdings PLC boosted its holdings in RadNet by 13.8% in the fourth quarter. Hsbc Holdings PLC now owns 242,160 shares of the medical research company’s stock valued at $8,487,000 after acquiring an additional 29,372 shares in the last quarter. Finally, Capstone Investment Advisors LLC purchased a new position in RadNet during the 4th quarter valued at $264,000. 77.90% of the stock is 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.