Jefferies Financial Group Boosts RadNet (NASDAQ:RDNT) Price Target to $80.00

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

Several other equities research analysts have also weighed in on the company. Truist Financial increased their target price on RadNet from $63.00 to $70.00 and gave the stock a buy rating in a research report on Monday, July 15th. Barclays upgraded shares of RadNet from an equal weight rating to an overweight rating and lifted their price objective for the company from $57.00 to $79.00 in a research report on Friday, September 6th. One research analyst has rated the stock with a sell rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of Moderate Buy and an average target price of $72.25.

RadNet Price Performance

Shares of NASDAQ:RDNT opened at $69.34 on Thursday. The company has a market cap of $5.12 billion, a PE ratio of 231.13 and a beta of 1.74. RadNet has a fifty-two week low of $25.11 and a fifty-two week high of $70.37. The firm has a 50-day simple moving average of $63.03 and a 200 day simple moving average of $56.79. The company has a quick ratio of 2.12, a current ratio of 2.12 and a debt-to-equity ratio of 0.92.

RadNet (NASDAQ:RDNT) last posted its earnings results on Wednesday, August 7th. The medical research company reported $0.16 EPS for the quarter, missing the consensus estimate of $0.17 by ($0.01). The company had revenue of $459.70 million for the quarter, compared to the consensus estimate 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% compared to the same quarter last year. During the same period last year, the company posted $0.24 earnings per share. On average, sell-side analysts anticipate that RadNet will post 0.58 EPS for the current year.

Insider Transactions at RadNet

In related news, EVP Michael N. Murdock sold 15,000 shares of RadNet stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $62.78, for a total transaction of $941,700.00. Following the sale, the executive vice president now directly owns 48,144 shares in the company, valued at $3,022,480.32. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Company insiders own 5.12% of the company’s stock.

Institutional Investors Weigh In On RadNet

Several hedge funds and other institutional investors have recently added to or reduced their stakes in RDNT. Nisa Investment Advisors LLC boosted its stake in RadNet by 774.2% during the 2nd quarter. Nisa Investment Advisors LLC now owns 848 shares of the medical research company’s stock valued at $50,000 after purchasing an additional 751 shares in the last quarter. GAMMA Investing LLC raised its position in RadNet by 74.7% in the second quarter. GAMMA Investing LLC now owns 865 shares of the medical research company’s stock worth $51,000 after acquiring an additional 370 shares in the last quarter. Assetmark Inc. lifted its holdings in RadNet by 35.2% in the 4th quarter. Assetmark Inc. now owns 3,183 shares of the medical research company’s stock valued at $111,000 after acquiring an additional 829 shares during the last quarter. Profund Advisors LLC bought a new stake in RadNet during the second quarter worth approximately $207,000. Finally, SG Americas Securities LLC boosted its stake in shares of RadNet by 8.7% during the 1st quarter. SG Americas Securities LLC now owns 3,637 shares of the medical research company’s stock worth $177,000 after acquiring an additional 291 shares in the last quarter. 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.