Brokerages Set RadNet, Inc. (NASDAQ:RDNT) Price Target at $84.75

Shares of RadNet, Inc. (NASDAQ:RDNT) have received an average recommendation of “Buy” from the five ratings firms that are covering the company, MarketBeat 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 price objective among analysts that have covered the stock in the last year is $84.75.

A number of brokerages have recently issued reports on RDNT. Truist Financial boosted their target price on RadNet from $80.00 to $94.00 and gave the stock a “buy” rating in a report on Friday, November 29th. Barclays boosted their price objective on shares of RadNet from $79.00 to $85.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 4th. Sidoti raised shares of RadNet to a “strong-buy” rating in a research note on Friday, October 4th. Finally, Jefferies Financial Group upped their price target on shares of RadNet from $82.00 to $100.00 and gave the stock a “buy” rating in a research report on Thursday, December 5th.

RadNet Price Performance

RDNT stock opened at $73.36 on Friday. The company has a market cap of $5.43 billion, a PE ratio of -1,047.85 and a beta of 1.77. 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 stock has a 50-day moving average price of $75.34 and a two-hundred day moving average price of $67.27. RadNet has a 12-month low of $33.44 and a 12-month high of $93.65.

Insider Transactions at RadNet

In other RadNet news, insider Ranjan Jayanathan sold 38,557 shares of RadNet stock in a transaction that occurred on Tuesday, November 19th. The stock was sold at an average price of $80.00, for a total transaction of $3,084,560.00. Following the sale, the insider now directly owns 192,724 shares in the company, valued at $15,417,920. The trade was a 16.67 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP David Jeffrey Katz sold 12,300 shares of the stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $81.65, for a total value of $1,004,295.00. Following the transaction, the executive vice president now owns 62,909 shares of the company’s stock, valued at approximately $5,136,519.85. This trade represents a 16.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 5.12% of the company’s stock.

Institutional Trading of RadNet

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Covestor Ltd lifted its stake in RadNet by 10,875.0% during the third quarter. Covestor Ltd now owns 439 shares of the medical research company’s stock worth $30,000 after purchasing an additional 435 shares during the last quarter. Nisa Investment Advisors LLC lifted its holdings in RadNet by 774.2% in the second quarter. Nisa Investment Advisors LLC now owns 848 shares of the medical research company’s stock worth $50,000 after purchasing an additional 751 shares during the period. Highline Wealth Partners LLC bought a new position in shares of RadNet in the third quarter valued at approximately $68,000. Peterson Financial Group Inc. bought a new position in RadNet during the 3rd quarter valued at $90,000. Finally, GAMMA Investing LLC lifted its holdings in RadNet by 57.3% in the 3rd quarter. GAMMA Investing LLC now owns 1,361 shares of the medical research company’s stock valued at $94,000 after acquiring an additional 496 shares during the last quarter. Institutional investors own 77.90% of the company’s stock.

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.