Brokerages Set RadNet, Inc. (NASDAQ:RDNT) Target Price at $74.75

Shares of RadNet, Inc. (NASDAQ:RDNT) have earned an average recommendation of “Buy” from the five analysts that are presently covering the firm, MarketBeat Ratings reports. Four research analysts have rated the stock with a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month target price among brokerages that have issued ratings on the stock in the last year is $74.75.

Several research firms have issued reports on RDNT. Sidoti raised RadNet to a “strong-buy” rating in a research note on Friday, October 4th. Barclays raised RadNet from an “equal weight” rating to an “overweight” rating and lifted their target price for the company from $57.00 to $79.00 in a research report on Friday, September 6th. Jefferies Financial Group upped their price target on RadNet from $75.00 to $80.00 and gave the stock a “buy” rating in a research report on Thursday, September 19th. Finally, Truist Financial lifted their price objective on shares of RadNet from $70.00 to $80.00 and gave the company a “buy” rating in a report on Monday, September 23rd.

Insiders Place Their Bets

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

Institutional Trading of RadNet

Hedge funds and other institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. raised its stake 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 during the last quarter. UniSuper Management Pty Ltd bought a new position in shares of RadNet in the 1st quarter worth about $683,000. Janus Henderson Group PLC raised its position in shares of 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 acquiring an additional 33,335 shares in the last quarter. Russell Investments Group Ltd. lifted its stake in shares of RadNet by 103.4% in the 1st quarter. Russell Investments Group Ltd. now owns 249,898 shares of the medical research company’s stock valued at $12,160,000 after purchasing an additional 127,039 shares during the period. Finally, Sei Investments Co. boosted its position in shares of RadNet by 18.8% during the 1st quarter. Sei Investments Co. now owns 65,899 shares of the medical research company’s stock valued at $3,207,000 after purchasing an additional 10,430 shares in the last quarter. 77.90% of the stock is currently owned by institutional investors.

RadNet Trading Up 2.6 %

RDNT opened at $69.85 on Friday. The firm’s fifty day moving average is $67.10 and its two-hundred day moving average is $61.57. The firm has a market cap of $5.17 billion, a PE ratio of 498.93 and a beta of 1.75. RadNet has a twelve month low of $28.27 and a twelve month high of $72.18. The company has a debt-to-equity ratio of 0.92, a quick ratio of 2.12 and a current ratio of 2.12.

RadNet (NASDAQ:RDNT) last issued its quarterly earnings data on Wednesday, August 7th. The medical research company reported $0.16 earnings per share (EPS) 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 net margin of 0.58% and a return on equity of 4.30%. RadNet’s revenue for the quarter was up 13.9% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.24 earnings per share. Equities research analysts anticipate that RadNet will post 0.59 EPS for the current year.

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.