RadNet (NASDAQ:RDNT) Price Target Cut to $74.00 by Analysts at Barclays

RadNet (NASDAQ:RDNT) had its price target decreased by analysts at Barclays from $85.00 to $74.00 in a research note issued to investors on Wednesday,Benzinga reports. The firm presently has an “overweight” rating on the medical research company’s stock. Barclays‘s price objective indicates a potential upside of 22.94% from the company’s previous close.

A number of other research firms have also recently commented on RDNT. Truist Financial lifted their target price 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. Sidoti raised shares of RadNet to a “strong-buy” rating in a report on Friday, October 4th. Finally, Jefferies Financial Group reduced their target price on RadNet from $100.00 to $80.00 and set a “buy” rating for the company in a research note on Wednesday, January 15th. One research analyst has rated the stock with a sell rating, four have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $77.00.

RadNet Trading Up 0.6 %

RadNet stock opened at $60.19 on Wednesday. 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 has a market cap of $4.46 billion, a PE ratio of -859.73 and a beta of 1.79. The stock has a 50-day moving average of $75.23 and a two-hundred day moving average of $68.63. RadNet has a one year low of $35.16 and a one year high of $93.65.

Insider Buying and Selling

In other RadNet news, EVP David Jeffrey Katz sold 12,300 shares of the business’s stock in a transaction that occurred on 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 directly 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 can be accessed through this link. Also, insider Ranjan Jayanathan sold 38,557 shares of the firm’s stock in a transaction that occurred on 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 sale, the insider now directly owns 192,724 shares in the company, valued at $15,417,920. The trade was a 16.67 % decrease in their position. The disclosure for this sale can be found here. 5.12% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Envestnet Asset Management Inc. boosted its stake in shares of RadNet by 3.9% during the 2nd quarter. Envestnet Asset Management Inc. now owns 93,391 shares of the medical research company’s stock worth $5,503,000 after acquiring an additional 3,521 shares in the last quarter. Intech Investment Management LLC acquired a new position in RadNet in the 2nd quarter worth about $446,000. Public Employees Retirement Association of Colorado purchased a new position in RadNet during the second quarter worth approximately $331,000. Sei Investments Co. grew its holdings in RadNet by 139.9% in the second quarter. Sei Investments Co. now owns 158,123 shares of the medical research company’s stock valued at $9,317,000 after purchasing an additional 92,224 shares during the period. Finally, Profund Advisors LLC purchased a new stake in shares of RadNet in the second quarter valued at approximately $207,000. Hedge funds and other institutional investors own 77.90% of the company’s stock.

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.