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

RadNet (NASDAQ:RDNT) had its price target cut by Barclays from $85.00 to $74.00 in a report released on Wednesday,Benzinga reports. They currently have an overweight rating on the medical research company’s stock.

Other equities research analysts also recently issued reports about the stock. Truist Financial lifted their price target on shares of RadNet from $80.00 to $94.00 and gave the company a “buy” rating in a research note on Friday, November 29th. Sidoti raised RadNet to a “strong-buy” rating in a research note on Friday, October 4th. Finally, Jefferies Financial Group reduced their price objective 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 investment analyst has rated the stock with a sell rating, four have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $75.50.

RadNet Price Performance

Shares of RDNT opened at $63.73 on Wednesday. The firm has a market cap of $4.72 billion, a PE ratio of -910.30 and a beta of 1.79. RadNet has a 52-week low of $35.16 and a 52-week high of $93.65. 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 business’s 50 day moving average price is $74.76 and its two-hundred day moving average price is $68.64.

Insider Buying and Selling at RadNet

In related news, EVP David Jeffrey Katz sold 12,300 shares of RadNet stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $81.65, for a total transaction of $1,004,295.00. Following the transaction, the executive vice president now owns 62,909 shares of the company’s stock, valued at $5,136,519.85. The trade was a 16.35 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Ranjan Jayanathan sold 38,557 shares of the stock in a transaction on Tuesday, November 19th. The shares were 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. The trade was a 16.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 5.12% of the company’s stock.

Institutional Investors Weigh In On RadNet

A number of institutional investors have recently added to or reduced their stakes in RDNT. Covestor Ltd lifted its position in shares of 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 buying an additional 435 shares in the last quarter. USA Financial Formulas bought a new stake in RadNet during the fourth quarter worth $30,000. Fifth Third Bancorp boosted its position in RadNet by 84.3% in the fourth quarter. Fifth Third Bancorp now owns 667 shares of the medical research company’s stock worth $47,000 after purchasing an additional 305 shares during the last quarter. Highline Wealth Partners LLC bought a new position in RadNet in the 3rd quarter valued at $68,000. Finally, Peterson Financial Group Inc. purchased a new stake in shares of RadNet during the 3rd quarter valued at $90,000. 77.90% of the stock is 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.