Jefferies Financial Group Issues Pessimistic Forecast for RadNet (NASDAQ:RDNT) Stock Price

RadNet (NASDAQ:RDNT) had its target price decreased by Jefferies Financial Group from $100.00 to $80.00 in a research note published on Wednesday morning,Benzinga reports. Jefferies Financial Group currently has a buy rating on the medical research company’s stock.

RDNT has been the subject of a number of other research reports. Truist Financial boosted their target price 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. Sidoti raised shares of RadNet to a “strong-buy” rating in a report on Friday, October 4th. Finally, Barclays raised 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. One investment analyst has rated the stock with a sell rating, four have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $79.75.

RadNet Stock Down 6.0 %

NASDAQ:RDNT opened at $61.74 on Wednesday. The stock has a 50 day simple moving average of $76.22 and a 200 day simple moving average of $68.54. RadNet has a 1-year low of $35.16 and a 1-year high of $93.65. The company has a debt-to-equity ratio of 0.89, a current ratio of 2.16 and a quick ratio of 2.16.

Insider Buying and Selling

In related news, EVP David Jeffrey Katz sold 12,300 shares of RadNet 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 directly owns 62,909 shares of the company’s stock, 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 legal filing with the SEC, which is available through this link. Also, insider Ranjan Jayanathan sold 38,557 shares of the company’s stock in a transaction on Tuesday, November 19th. The stock was sold at an average price of $80.00, for a total value of $3,084,560.00. Following the sale, the insider now owns 192,724 shares of the company’s stock, valued at $15,417,920. The trade was 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 company insiders.

Hedge Funds Weigh In On RadNet

A number of institutional investors have recently modified their holdings of RDNT. State Street Corp boosted its stake in RadNet by 1.3% in the third quarter. State Street Corp now owns 2,446,179 shares of the medical research company’s stock valued at $169,740,000 after buying an additional 30,244 shares in the last quarter. Geode Capital Management LLC lifted its holdings in shares of RadNet by 0.8% in the third quarter. Geode Capital Management LLC now owns 1,555,214 shares of the medical research company’s stock worth $107,936,000 after acquiring an additional 11,613 shares during the last quarter. Principal Financial Group Inc. boosted its stake in shares of RadNet by 8.5% in the 3rd quarter. Principal Financial Group Inc. now owns 1,506,545 shares of the medical research company’s stock valued at $104,539,000 after purchasing an additional 118,501 shares in the last quarter. JB Capital Partners LP grew its holdings in shares of RadNet by 15.9% during the 3rd quarter. JB Capital Partners LP now owns 1,504,061 shares of the medical research company’s stock valued at $104,367,000 after purchasing an additional 206,850 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC increased its position in RadNet by 11.8% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 1,131,849 shares of the medical research company’s stock worth $78,539,000 after purchasing an additional 119,875 shares in the last quarter. Institutional investors and hedge funds 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.