RadNet (NASDAQ:RDNT) Receives Buy Rating from Truist Financial

RadNet (NASDAQ:RDNT)‘s stock had its “buy” rating reiterated by equities researchers at Truist Financial in a report released on Wednesday,Benzinga reports. They currently have a $88.00 price target on the medical research company’s stock, down from their prior price target of $94.00. Truist Financial’s price target points to a potential upside of 35.49% from the company’s current price.

A number of other research firms have also weighed in on RDNT. Sidoti upgraded shares of RadNet to a “strong-buy” rating in a report on Friday, October 4th. Barclays dropped their target price on RadNet from $85.00 to $74.00 and set an “overweight” rating on the stock in a report on Wednesday. Finally, Jefferies Financial Group dropped their price objective on RadNet from $100.00 to $80.00 and set a “buy” rating on the stock in a research note on Wednesday, January 15th. One 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 data from MarketBeat.com, RadNet presently has an average rating of “Moderate Buy” and an average price target of $75.50.

RadNet Stock Performance

NASDAQ RDNT opened at $64.95 on Wednesday. The company has a current ratio of 2.16, a quick ratio of 2.16 and a debt-to-equity ratio of 0.89. The company has a fifty day simple moving average of $74.38 and a 200 day simple moving average of $68.60. RadNet has a 12-month low of $35.16 and a 12-month high of $93.65. The company has a market cap of $4.81 billion, a P/E ratio of -927.72 and a beta of 1.79.

Insider Activity

In other RadNet news, EVP David Jeffrey Katz sold 12,300 shares of RadNet stock in a transaction dated 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 sale, the executive vice president now owns 62,909 shares of the company’s stock, valued at approximately $5,136,519.85. The trade was a 16.35 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Ranjan Jayanathan sold 38,557 shares of the stock in a transaction that occurred on Tuesday, November 19th. The shares were sold at an average price of $80.00, for a total transaction of $3,084,560.00. Following the transaction, the insider now directly owns 192,724 shares of the company’s stock, valued at $15,417,920. This represents 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 corporate insiders.

Institutional Trading of RadNet

Several hedge funds have recently made changes to their positions in the company. Highland Capital Management LLC raised its stake in RadNet by 6.5% in the 4th quarter. Highland Capital Management LLC now owns 3,307 shares of the medical research company’s stock valued at $231,000 after acquiring an additional 202 shares during the period. KBC Group NV raised its position in shares of RadNet by 47.6% in the fourth quarter. KBC Group NV now owns 2,678 shares of the medical research company’s stock valued at $187,000 after purchasing an additional 864 shares during the period. Fifth Third Bancorp lifted its stake in shares of RadNet by 84.3% during the 4th quarter. Fifth Third Bancorp now owns 667 shares of the medical research company’s stock valued at $47,000 after buying an additional 305 shares in the last quarter. Nisa Investment Advisors LLC boosted its holdings in RadNet by 20.0% in the 4th quarter. Nisa Investment Advisors LLC now owns 4,291 shares of the medical research company’s stock worth $300,000 after buying an additional 716 shares during the period. Finally, Connective Portfolio Management LLC purchased a new position in RadNet in the 4th quarter valued at approximately $2,177,000. 77.90% of the stock is currently owned by 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.