Brokerages Set RadNet, Inc. (NASDAQ:RDNT) Target Price at $90.00

by · The Cerbat Gem

RadNet, Inc. (NASDAQ:RDNT – Get Free Report) has been assigned an average recommendation of “Moderate Buy” from the nine ratings firms that are currently covering the stock, Marketbeat Ratings reports. One analyst has rated the stock with a sell recommendation, one has issued a hold recommendation, five have assigned a buy recommendation and two have assigned a strong buy recommendation to the company. The average twelve-month price target among brokers that have updated their coverage on the stock in the last year is $90.00.

Several equities research analysts have issued reports on RDNT shares. Zacks Research upgraded shares of RadNet from a “strong sell” rating to a “hold” rating in a research note on Thursday, August 13th. Barclays raised their price target on RadNet from $65.00 to $79.00 and gave the company an “overweight” rating in a report on Friday, August 28th. Jefferies Financial Group reaffirmed a “buy” rating on shares of RadNet in a research report on Friday, July 31st. Truist Financial increased their price target on shares of RadNet from $90.00 to $94.00 and gave the company a “buy” rating in a report on Tuesday, August 11th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of RadNet in a research report on Friday, August 7th.

View Our Latest Analysis on RadNet

Insider Activity

In other news, Director David Swartz sold 2,699 shares of the stock in a transaction on Thursday, June 18th. The stock was sold at an average price of $53.89, for a total transaction of $145,449.11. Following the sale, the director directly owned 177,013 shares of the company’s stock, valued at approximately $9,539,230.57. This represents a 1.50% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 5.14% of the company’s stock.

Institutional Trading of RadNet

Several large investors have recently made changes to their positions in RDNT. Sequoia Financial Advisors LLC increased its position in RadNet by 1.9% during the 2nd quarter. Sequoia Financial Advisors LLC now owns 115,120 shares of the medical research company’s stock worth $7,099,000 after purchasing an additional 2,128 shares in the last quarter. Engineers Gate Manager LP acquired a new position in RadNet during the 2nd quarter worth about $500,000. NewEdge Advisors LLC boosted its holdings in RadNet by 3.3% in the second quarter. NewEdge Advisors LLC now owns 20,883 shares of the medical research company’s stock valued at $1,288,000 after acquiring an additional 671 shares during the last quarter. Arizona State Retirement System boosted its stake in shares of RadNet by 0.9% in the 2nd quarter. Arizona State Retirement System now owns 18,203 shares of the medical research company’s stock valued at $1,123,000 after purchasing an additional 160 shares during the last quarter. Finally, Nykredit A S bought a new stake in RadNet during the second quarter valued at $153,000. Institutional investors and hedge funds own 77.90% of the company’s stock.

RadNet Price Performance

RadNet stock opened at $75.49 on Tuesday. The stock has a market capitalization of $5.94 billion, a PE ratio of -279.58 and a beta of 1.41. The company has a quick ratio of 1.48, a current ratio of 1.48 and a debt-to-equity ratio of 0.94. RadNet has a twelve month low of $50.82 and a twelve month high of $85.84. The company has a 50 day moving average of $69.97 and a 200-day moving average of $62.62.

RadNet (NASDAQ:RDNT – Get Free Report) last released its quarterly earnings results on Monday, August 10th. The medical research company reported $0.29 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.20 by $0.09. RadNet had a positive return on equity of 2.61% and a negative net margin of 0.93%.The firm had revenue of $622.72 million for the quarter, compared to the consensus estimate of $610.87 million. During the same quarter last year, the business posted $0.31 EPS. The company’s revenue for the quarter was up 25.0% on a year-over-year basis. On average, equities research analysts anticipate that RadNet will post 0.49 EPS for the current fiscal year.

RadNet Company Profile

(Get Free Report)

RadNet, Inc is an outpatient diagnostic imaging company that provides medical imaging services through a network of imaging centers and affiliated facilities. Its services support the diagnosis and monitoring of a wide range of medical conditions and are generally provided on an outpatient basis, outside of traditional hospital settings.

The company’s imaging offerings include magnetic resonance imaging (MRI), computed tomography (CT), positron emission tomography (PET/CT), mammography, ultrasound, X-ray and other diagnostic procedures.

Recommended Stories