RadNet, Inc. (NASDAQ:RDNT) Receives $74.75 Consensus Price Target from Brokerages

RadNet, Inc. (NASDAQ:RDNT) has been given an average rating of “Buy” by the five ratings firms that are covering the stock, Marketbeat Ratings reports. Four investment analysts have rated the stock with a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year target price among brokerages that have updated their coverage on the stock in the last year is $74.75.

A number of brokerages recently commented on RDNT. Truist Financial boosted their target price on RadNet from $70.00 to $80.00 and gave the company a “buy” rating in a research report on Monday, September 23rd. Barclays raised RadNet from an “equal weight” rating to an “overweight” rating and upped their target price for the stock from $57.00 to $79.00 in a research report on Friday, September 6th. Jefferies Financial Group increased their target price on RadNet from $75.00 to $80.00 and gave the stock a “buy” rating in a report on Thursday, September 19th. Finally, Sidoti upgraded shares of RadNet to a “strong-buy” rating in a research note on Friday, October 4th.

Insiders Place Their Bets

In related news, EVP Michael N. Murdock sold 15,000 shares of RadNet stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $62.78, for a total value of $941,700.00. Following the completion of the sale, the executive vice president now owns 48,144 shares of the company’s stock, valued at approximately $3,022,480.32. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Company insiders own 5.12% of the company’s stock.

Institutional Trading of RadNet

A number of institutional investors have recently added to or reduced their stakes in the stock. Teachers Retirement System of The State of Kentucky boosted its holdings in RadNet by 3.8% in the 4th quarter. Teachers Retirement System of The State of Kentucky now owns 61,447 shares of the medical research company’s stock valued at $2,136,000 after purchasing an additional 2,272 shares during the period. Goldman Sachs Group Inc. boosted its stake in RadNet by 3.7% during the fourth quarter. Goldman Sachs Group Inc. now owns 771,662 shares of the medical research company’s stock valued at $26,831,000 after buying an additional 27,311 shares during the period. Wellington Management Group LLP grew its position in RadNet by 16.9% during the fourth quarter. Wellington Management Group LLP now owns 727,172 shares of the medical research company’s stock worth $25,284,000 after buying an additional 105,164 shares in the last quarter. Vanguard Group Inc. grew its position in RadNet by 0.8% during the fourth 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 in the last quarter. Finally, Los Angeles Capital Management LLC bought a new position in RadNet in the 1st quarter worth about $218,000. Hedge funds and other institutional investors own 77.90% of the company’s stock.

RadNet Stock Down 2.1 %

RadNet stock opened at $64.99 on Tuesday. The firm has a market cap of $4.80 billion, a price-to-earnings ratio of 216.63 and a beta of 1.74. RadNet has a 52-week low of $25.11 and a 52-week high of $71.92. The company has a debt-to-equity ratio of 0.92, a quick ratio of 2.12 and a current ratio of 2.12. The firm has a 50 day moving average price of $64.89 and a two-hundred day moving average price of $58.87.

RadNet (NASDAQ:RDNT) last posted 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). RadNet had a return on equity of 4.30% and a net margin of 0.58%. The business had revenue of $459.70 million during the quarter, compared to the consensus estimate of $438.53 million. During the same period last year, the business posted $0.24 earnings per share. The business’s revenue was up 13.9% on a year-over-year basis. Equities analysts predict that RadNet will post 0.6 EPS for the current year.

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.