RadNet (NASDAQ:RDNT) Price Target Raised to $80.00

RadNet (NASDAQ:RDNT) had its price objective lifted by Jefferies Financial Group from $75.00 to $80.00 in a research report report published on Thursday, Benzinga reports. Jefferies Financial Group currently has a buy rating on the medical research company’s stock.

A number of other research analysts have also commented on RDNT. Barclays raised RadNet from an equal weight rating to an overweight rating and increased their price objective for the company from $57.00 to $79.00 in a report on Friday, September 6th. Truist Financial increased their price target on RadNet from $63.00 to $70.00 and gave the company a buy rating in a report on Monday, July 15th. One investment analyst has rated the stock with a sell rating and four have issued a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of Moderate Buy and a consensus target price of $72.25.

RadNet Stock Down 0.4 %

Shares of RadNet stock opened at $69.34 on Thursday. The company has a current ratio of 2.12, a quick ratio of 2.12 and a debt-to-equity ratio of 0.92. The company has a market cap of $5.12 billion, a P/E ratio of 231.13 and a beta of 1.74. RadNet has a 1 year low of $25.11 and a 1 year high of $70.37. The stock has a 50-day moving average price of $63.03 and a 200 day moving average price of $56.79.

RadNet (NASDAQ:RDNT) last released its quarterly earnings data on Wednesday, August 7th. The medical research company reported $0.16 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.17 by ($0.01). The business had revenue of $459.70 million during the quarter, compared to analyst estimates of $438.53 million. RadNet had a net margin of 0.58% and a return on equity of 4.30%. The firm’s revenue for the quarter was up 13.9% on a year-over-year basis. During the same period in the previous year, the firm posted $0.24 EPS. As a group, analysts expect that RadNet will post 0.58 EPS for the current fiscal year.

Insider Transactions at RadNet

In related news, EVP Michael N. Murdock sold 15,000 shares of the stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $62.78, for a total transaction of $941,700.00. Following the completion of the sale, the executive vice president now owns 48,144 shares in the company, valued at approximately $3,022,480.32. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 5.12% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On RadNet

Several large investors have recently bought and sold shares of the stock. RTW Investments LP bought a new position in shares of RadNet during the 4th quarter worth about $23,073,000. Clearbridge Investments LLC acquired a new stake in shares of RadNet during the 1st quarter worth approximately $26,617,000. Allspring Global Investments Holdings LLC increased its position in shares of RadNet by 103.8% during the second quarter. Allspring Global Investments Holdings LLC now owns 1,011,974 shares of the medical research company’s stock valued at $59,626,000 after purchasing an additional 515,342 shares during the period. 8 Knots Management LLC acquired a new position in shares of RadNet in the first quarter valued at $20,273,000. Finally, Vanguard Group Inc. lifted its position in RadNet by 8.1% in the first quarter. Vanguard Group Inc. now owns 4,600,539 shares of the medical research company’s stock worth $223,862,000 after purchasing an additional 345,822 shares during the period. 77.90% of the stock is currently owned by institutional investors and hedge funds.

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.