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

RadNet, Inc. (NASDAQ:RDNT) has received an average rating of “Buy” from the five brokerages that are currently covering the company, MarketBeat Ratings reports. Four investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. The average 1-year price objective among brokerages that have issued ratings on the stock in the last year is $84.75.

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

Insider Transactions at RadNet

In related news, EVP David Jeffrey Katz sold 12,300 shares of the company’s stock in a transaction dated 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 completion of the transaction, the executive vice president now owns 62,909 shares of the company’s stock, valued at approximately $5,136,519.85. This represents a 16.35 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Ranjan Jayanathan sold 38,557 shares of the business’s stock in a transaction that occurred on 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 completion of the sale, 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. Corporate insiders own 5.12% of the company’s stock.

Institutional Trading of RadNet

Institutional investors have recently modified their holdings of the stock. Allspring Global Investments Holdings LLC raised its position in shares of RadNet by 103.8% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 1,011,974 shares of the medical research company’s stock worth $59,626,000 after purchasing an additional 515,342 shares during the last quarter. Portolan Capital Management LLC raised its holdings in shares of RadNet by 384.8% during the third quarter. Portolan Capital Management LLC now owns 491,358 shares of the medical research company’s stock valued at $34,095,000 after acquiring an additional 390,011 shares during the last quarter. Harbor Capital Advisors Inc. boosted its stake in shares of RadNet by 130.5% in the third quarter. Harbor Capital Advisors Inc. now owns 402,205 shares of the medical research company’s stock worth $27,909,000 after acquiring an additional 227,713 shares during the last quarter. Cerity Partners LLC boosted its stake in shares of RadNet by 131.4% in the third quarter. Cerity Partners LLC now owns 387,536 shares of the medical research company’s stock worth $26,891,000 after acquiring an additional 220,068 shares during the last quarter. Finally, JB Capital Partners LP increased its position in shares of RadNet by 15.9% during the third quarter. JB Capital Partners LP now owns 1,504,061 shares of the medical research company’s stock worth $104,367,000 after purchasing an additional 206,850 shares in the last quarter. Institutional investors and hedge funds own 77.90% of the company’s stock.

RadNet Stock Down 2.0 %

Shares of RDNT stock opened at $71.27 on Friday. RadNet has a fifty-two week low of $33.44 and a fifty-two week high of $93.65. The firm has a market capitalization 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’s 50-day simple moving average is $75.60 and its 200-day simple moving average is $67.55.

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.