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

Shares of RadNet, Inc. (NASDAQ:RDNT) have earned an average rating of “Buy” from the five ratings firms that are currently covering the company, Marketbeat Ratings reports. Four investment analysts have rated the stock with a buy rating and one has issued a strong buy rating on the company. The average 1 year target price among brokers that have issued ratings on the stock in the last year is $74.75.

A number of research analysts have weighed in on RDNT shares. Truist Financial boosted their target price on shares of RadNet from $70.00 to $80.00 and gave the company 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 research note on Friday, September 6th. Sidoti raised RadNet to a “strong-buy” rating in a research report on Friday, October 4th. Finally, Jefferies Financial Group upped their price target on RadNet from $75.00 to $80.00 and gave the company a “buy” rating in a research report on Thursday, September 19th.

RadNet Price Performance

Shares of NASDAQ:RDNT opened at $81.45 on Wednesday. The company has a market capitalization of $6.03 billion, a P/E ratio of -1,163.57 and a beta of 1.75. The company’s 50-day moving average is $71.32 and its 200 day moving average is $64.41. The company has a debt-to-equity ratio of 0.89, a quick ratio of 2.16 and a current ratio of 2.16. RadNet has a fifty-two week low of $32.01 and a fifty-two week high of $93.65.

Insider Activity at RadNet

In other RadNet news, insider Ranjan Jayanathan sold 38,557 shares of RadNet stock in a transaction dated Tuesday, November 19th. The stock was sold at an average price of $80.00, for a total transaction 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 $15,417,920. The trade was a 16.67 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 5.12% of the stock is owned by company insiders.

Institutional Investors Weigh In On RadNet

Institutional investors and hedge funds have recently modified their holdings of the company. Vanguard Group Inc. increased its holdings 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 worth $223,862,000 after acquiring an additional 345,822 shares during the period. O Shaughnessy Asset Management LLC bought a new position in shares of RadNet in the first quarter worth $274,000. CANADA LIFE ASSURANCE Co raised its position in shares of RadNet by 10.4% in the first quarter. CANADA LIFE ASSURANCE Co now owns 66,304 shares of the medical research company’s stock worth $3,223,000 after buying an additional 6,257 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its stake in RadNet by 6.8% during the first quarter. Price T Rowe Associates Inc. MD now owns 35,054 shares of the medical research company’s stock valued at $1,706,000 after buying an additional 2,222 shares during the period. Finally, Janus Henderson Group PLC grew its position in RadNet by 108.6% during the first quarter. Janus Henderson Group PLC now owns 64,029 shares of the medical research company’s stock worth $3,112,000 after buying an additional 33,335 shares in the last quarter. 77.90% of the stock is owned by hedge funds and other institutional investors.

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.