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

Shares of RadNet, Inc. (NASDAQ:RDNT) have received an average recommendation of “Buy” from the five ratings firms that are presently covering the firm, Marketbeat 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 target price among brokerages that have updated their coverage on the stock in the last year is $79.75.

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

Insider Buying and Selling at RadNet

In other RadNet news, insider Ranjan Jayanathan sold 38,557 shares of the firm’s stock in a transaction 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 transaction, the insider now owns 192,724 shares of the company’s stock, valued at approximately $15,417,920. This trade represents a 16.67 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP David Jeffrey Katz sold 12,300 shares of the firm’s stock in a transaction on Monday, November 25th. The stock was sold at an average price of $81.65, for a total transaction of $1,004,295.00. Following the completion of the transaction, the executive vice president now directly 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 disclosure for this sale can be found here. 5.12% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the business. State Street Corp grew its position in shares of 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 purchasing an additional 30,244 shares during the period. Geode Capital Management LLC grew its stake in RadNet by 0.8% during the 3rd quarter. Geode Capital Management LLC now owns 1,555,214 shares of the medical research company’s stock valued at $107,936,000 after acquiring an additional 11,613 shares in the last quarter. Principal Financial Group Inc. grew its stake in RadNet by 8.5% during 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 acquiring an additional 118,501 shares in the last quarter. JB Capital Partners LP grew its stake in 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 acquiring an additional 206,850 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC grew its stake 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 valued at $78,539,000 after acquiring an additional 119,875 shares in the last quarter. Hedge funds and other institutional investors own 77.90% of the company’s stock.

RadNet Trading Down 6.0 %

Shares of RadNet stock opened at $61.74 on Thursday. The company has a market capitalization of $4.57 billion, a P/E ratio of -881.87 and a beta of 1.79. 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 company has a fifty day moving average of $76.22 and a 200 day moving average of $68.54. RadNet has a fifty-two week low of $35.16 and a fifty-two week 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.