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

RadNet, Inc. (NASDAQ:RDNT) has received an average recommendation of “Buy” from the five brokerages that are covering the stock, Marketbeat reports. Four investment analysts have rated the stock with a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year price objective among brokerages that have covered the stock in the last year is $74.75.

RDNT has been the topic of several analyst reports. Sidoti raised shares of RadNet to a “strong-buy” rating in a research note on Friday, October 4th. Truist Financial increased their price objective on shares of RadNet from $70.00 to $80.00 and gave the stock a “buy” rating in a research report on Monday, September 23rd. Jefferies Financial Group raised their target price on RadNet from $75.00 to $80.00 and gave the stock a “buy” rating in a research note on Thursday, September 19th. Finally, Barclays raised RadNet from an “equal weight” rating to an “overweight” rating and boosted their price target for the company from $57.00 to $79.00 in a research note on Friday, September 6th.

Insider Buying and Selling at RadNet

In other news, insider Ranjan Jayanathan sold 38,557 shares of the stock in a transaction that occurred on Tuesday, November 19th. The stock was sold at an average price of $80.00, for a total value of $3,084,560.00. Following the completion of the sale, 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 sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 5.12% of the company’s stock.

Institutional Investors Weigh In On RadNet

Institutional investors have recently bought and sold shares of the stock. Covestor Ltd boosted its holdings in RadNet by 10,875.0% during the 3rd quarter. Covestor Ltd now owns 439 shares of the medical research company’s stock worth $30,000 after acquiring an additional 435 shares during the last quarter. Nisa Investment Advisors LLC grew its position in RadNet by 774.2% in the 2nd quarter. Nisa Investment Advisors LLC now owns 848 shares of the medical research company’s stock worth $50,000 after purchasing an additional 751 shares in the last quarter. GAMMA Investing LLC grew its position in RadNet by 74.7% in the 2nd quarter. GAMMA Investing LLC now owns 865 shares of the medical research company’s stock worth $51,000 after purchasing an additional 370 shares in the last quarter. Highline Wealth Partners LLC purchased a new stake in RadNet in the 3rd quarter valued at about $68,000. Finally, Peterson Financial Group Inc. bought a new position in shares of RadNet during the 3rd quarter worth approximately $90,000. Institutional investors own 77.90% of the company’s stock.

RadNet Trading Down 0.0 %

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

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.