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

Shares of RadNet, Inc. (NASDAQ:RDNT) have earned a consensus recommendation of “Buy” from the five analysts that are presently covering the firm, Marketbeat Ratings reports. Four investment analysts have rated the stock with a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year price target among brokers that have updated their coverage on the stock in the last year is $84.75.

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

NASDAQ:RDNT opened at $71.27 on Friday. RadNet has a one year low of $33.44 and a one year high of $93.65. The stock has a market cap of $5.28 billion, a PE ratio of -1,018.00 and a beta of 1.77. The company has a debt-to-equity ratio of 0.89, a quick ratio of 2.16 and a current ratio of 2.16. The stock has a 50 day moving average price of $75.60 and a 200 day moving average price of $67.55.

Insider Buying and Selling

In related news, EVP David Jeffrey Katz sold 12,300 shares of the business’s stock in a transaction on Monday, November 25th. The stock was sold at an average price of $81.65, for a total value of $1,004,295.00. Following the sale, the executive vice president now owns 62,909 shares in the company, valued at approximately $5,136,519.85. The trade was a 16.35 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 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 value 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. 5.12% of the stock is currently owned by corporate insiders.

Institutional Trading of RadNet

Institutional investors and hedge funds have recently bought and sold shares of the business. Nisa Investment Advisors LLC increased its stake in RadNet by 774.2% during the 2nd quarter. Nisa Investment Advisors LLC now owns 848 shares of the medical research company’s stock worth $50,000 after buying an additional 751 shares during the period. Louisiana State Employees Retirement System raised its stake in shares of RadNet by 12.0% in the second quarter. Louisiana State Employees Retirement System now owns 33,500 shares of the medical research company’s stock valued at $1,974,000 after acquiring an additional 3,600 shares in the last quarter. Bank of New York Mellon Corp boosted its holdings in RadNet by 30.6% in the second quarter. Bank of New York Mellon Corp now owns 578,565 shares of the medical research company’s stock valued at $34,089,000 after purchasing an additional 135,565 shares during the period. Allspring Global Investments Holdings LLC boosted its holdings in RadNet by 103.8% in the second quarter. Allspring Global Investments Holdings LLC now owns 1,011,974 shares of the medical research company’s stock valued at $59,626,000 after purchasing an additional 515,342 shares during the period. Finally, Whittier Trust Co. acquired a new position in RadNet during the 2nd quarter worth $11,069,000. 77.90% of the stock is currently owned by hedge funds and other institutional investors.

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.