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

RadNet, Inc. (NASDAQ:RDNT) has been assigned an average recommendation of “Buy” from the five analysts that are covering the company, Marketbeat Ratings reports. Four research analysts have rated the stock with a buy rating and one has issued a strong buy rating on the company. The average 12-month price objective among analysts that have issued ratings on the stock in the last year is $78.25.

A number of equities analysts have issued reports on the stock. Jefferies Financial Group raised their price objective on shares of RadNet from $75.00 to $80.00 and gave the company a “buy” rating in a research note on Thursday, September 19th. Truist Financial increased their price target on RadNet from $80.00 to $94.00 and gave the company a “buy” rating in a research note on Friday. Barclays raised RadNet from an “equal weight” rating to an “overweight” rating and lifted their price objective for the stock from $57.00 to $79.00 in a research note on Friday, September 6th. Finally, Sidoti upgraded RadNet to a “strong-buy” rating in a research report on Friday, October 4th.

RadNet Stock Performance

RadNet stock opened at $81.76 on Wednesday. RadNet has a 1 year low of $32.37 and a 1 year high of $93.65. The company’s 50-day moving average is $72.43 and its two-hundred day moving average is $65.02. The company has a current ratio of 2.16, a quick ratio of 2.16 and a debt-to-equity ratio of 0.89. The company has a market cap of $6.05 billion, a PE ratio of -1,168.00 and a beta of 1.75.

Insider Transactions at RadNet

In other news, EVP David Jeffrey Katz sold 12,300 shares of the 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 completion of the transaction, the executive vice president now directly owns 62,909 shares in the company, valued at $5,136,519.85. This represents a 16.35 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Ranjan Jayanathan sold 38,557 shares of RadNet stock in a transaction dated Tuesday, November 19th. The shares were sold at an average price of $80.00, for a total value 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 represents a 16.67 % decrease in their position. The disclosure for this sale can be found here. 5.12% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of RDNT. Allspring Global Investments Holdings LLC raised 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 worth $59,626,000 after purchasing an additional 515,342 shares in the last quarter. Portolan Capital Management LLC raised its position in RadNet by 384.8% during the third quarter. Portolan Capital Management LLC now owns 491,358 shares of the medical research company’s stock worth $34,095,000 after acquiring an additional 390,011 shares in the last quarter. Vanguard Group Inc. lifted its stake in RadNet by 8.1% in the first quarter. Vanguard Group Inc. now owns 4,600,539 shares of the medical research company’s stock valued at $223,862,000 after acquiring an additional 345,822 shares during the last quarter. Harbor Capital Advisors Inc. grew its position in shares of RadNet by 130.5% in the 3rd quarter. Harbor Capital Advisors Inc. now owns 402,205 shares of the medical research company’s stock valued at $27,909,000 after acquiring an additional 227,713 shares during the period. Finally, Cerity Partners LLC grew its position in shares of RadNet by 131.4% in the 3rd quarter. Cerity Partners LLC now owns 387,536 shares of the medical research company’s stock valued at $26,891,000 after acquiring an additional 220,068 shares during the period. 77.90% of the stock is currently owned by 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.