RadNet, Inc. (NASDAQ:RDNT) Given Consensus Rating of “Buy” by Analysts

RadNet, Inc. (NASDAQ:RDNT) has received a consensus recommendation of “Buy” from the five research firms that are covering the company, MarketBeat reports. Four equities 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 price target among brokerages that have updated their coverage on the stock in the last year is $79.75.

Several equities analysts have recently commented on the stock. Jefferies Financial Group decreased their price objective on shares of RadNet from $100.00 to $80.00 and set a “buy” rating on the stock in a report on Wednesday. Sidoti upgraded shares of RadNet to a “strong-buy” rating in a report on Friday, October 4th. Truist Financial upped their price objective on shares of RadNet from $80.00 to $94.00 and gave the stock a “buy” rating in a report on Friday, November 29th. Finally, Barclays increased their target price on shares of RadNet from $79.00 to $85.00 and gave the stock an “overweight” rating in a report on Wednesday, December 4th.

Insider Transactions at RadNet

In related news, EVP David Jeffrey Katz sold 12,300 shares of the firm’s stock in a transaction dated 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 completion of the sale, the executive vice president now owns 62,909 shares in the company, valued at $5,136,519.85. This trade represents a 16.35 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Ranjan Jayanathan sold 38,557 shares of the firm’s stock in a transaction dated Tuesday, November 19th. The shares were sold at an average price of $80.00, for a total transaction of $3,084,560.00. Following the transaction, the insider now owns 192,724 shares of the company’s stock, valued at $15,417,920. This trade represents a 16.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 5.12% of the company’s stock.

Institutional Investors Weigh In On RadNet

Hedge funds and other institutional investors have recently modified their holdings of the company. Covestor Ltd grew its holdings in shares of 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 buying an additional 435 shares in the last quarter. USA Financial Formulas purchased a new stake in RadNet in the fourth quarter valued at approximately $30,000. Highline Wealth Partners LLC purchased a new stake in RadNet in the third quarter valued at approximately $68,000. Peterson Financial Group Inc. purchased a new stake in RadNet in the third quarter valued at approximately $90,000. Finally, GAMMA Investing LLC grew its holdings in RadNet by 57.3% in the third quarter. GAMMA Investing LLC now owns 1,361 shares of the medical research company’s stock valued at $94,000 after purchasing an additional 496 shares during the period. 77.90% of the stock is currently owned by hedge funds and other institutional investors.

RadNet Stock Performance

NASDAQ:RDNT opened at $61.74 on Thursday. The company has a debt-to-equity ratio of 0.89, a current ratio of 2.16 and a quick ratio of 2.16. The firm has a market capitalization of $4.57 billion, a price-to-earnings ratio of -881.87 and a beta of 1.79. The company’s 50-day moving average is $76.22 and its two-hundred day moving average is $68.54. RadNet has a 1-year low of $35.16 and a 1-year high of $93.65.

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.