RadNet (NASDAQ:RDNT) Shares Gap Up – Here’s What Happened

RadNet, Inc. (NASDAQ:RDNT)’s stock price gapped up prior to trading on Thursday . The stock had previously closed at $79.85, but opened at $82.80. RadNet shares last traded at $82.16, with a volume of 14,284 shares traded.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the company. Truist Financial increased their price target on RadNet from $70.00 to $80.00 and gave the stock a “buy” rating in a research note on Monday, September 23rd. Barclays upgraded RadNet from an “equal weight” rating to an “overweight” rating and upped their price objective for the company from $57.00 to $79.00 in a report on Friday, September 6th. Jefferies Financial Group upped their price objective on RadNet from $75.00 to $80.00 and gave the company a “buy” rating in a report on Thursday, September 19th. Finally, Sidoti upgraded RadNet to a “strong-buy” rating in a report on Friday, October 4th. One equities research analyst has rated the stock with a sell rating, four have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $74.75.

RadNet Stock Down 0.8 %

The stock has a market capitalization of $6.04 billion, a price-to-earnings ratio of -1,173.55 and a beta of 1.75. The company has a quick ratio of 2.16, a current ratio of 2.16 and a debt-to-equity ratio of 0.89. The firm has a 50-day moving average of $70.44 and a two-hundred day moving average of $63.70.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. boosted its stake in RadNet by 8.1% during the 1st quarter. Vanguard Group Inc. now owns 4,600,539 shares of the medical research company’s stock valued at $223,862,000 after purchasing an additional 345,822 shares during the period. State Street Corp lifted its position in shares of RadNet by 1.3% in the 3rd quarter. State Street Corp now owns 2,446,179 shares of the medical research company’s stock worth $169,740,000 after acquiring an additional 30,244 shares during the period. Geode Capital Management LLC lifted its position in shares of RadNet by 0.8% in the 3rd 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 period. Principal Financial Group Inc. lifted its position 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 worth $104,539,000 after acquiring an additional 118,501 shares during the period. Finally, JB Capital Partners LP lifted its position 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 worth $104,367,000 after buying an additional 206,850 shares during the period. 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.