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

Shares of RadNet, Inc. (NASDAQ:RDNT) have received a consensus rating of “Buy” from the five brokerages that are presently covering the company, MarketBeat.com reports. Four investment analysts have rated the stock with a buy recommendation and one has issued a strong buy recommendation on the company. The average 1-year target price among analysts that have issued ratings on the stock in the last year is $84.75.

RDNT has been the topic of several research analyst reports. Truist Financial lifted their target price on RadNet from $80.00 to $94.00 and gave the company a “buy” rating in a research note on Friday, November 29th. Sidoti upgraded shares of RadNet to a “strong-buy” rating in a research note on Friday, October 4th. Jefferies Financial Group increased their target price on shares of RadNet from $82.00 to $100.00 and gave the stock a “buy” rating in a research report on Thursday, December 5th. Finally, Barclays boosted their price target on shares of RadNet from $79.00 to $85.00 and gave the company an “overweight” rating in a report on Wednesday, December 4th.

RadNet Stock Performance

Shares of RDNT stock opened at $72.70 on Friday. The company has a market capitalization of $5.38 billion, a price-to-earnings ratio of -1,038.42 and a beta of 1.77. RadNet has a 1-year low of $33.44 and a 1-year high of $93.65. The company has a current ratio of 2.16, a quick ratio of 2.16 and a debt-to-equity ratio of 0.89. The stock’s fifty day simple moving average is $75.30 and its 200-day simple moving average is $67.14.

Insiders Place Their Bets

In related news, insider Ranjan Jayanathan sold 38,557 shares of the business’s stock in a transaction dated Tuesday, November 19th. The stock was sold at an average price of $80.00, for a total transaction of $3,084,560.00. Following the completion of the transaction, the insider now owns 192,724 shares of the company’s stock, valued at approximately $15,417,920. The trade was a 16.67 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP David Jeffrey Katz sold 12,300 shares of the firm’s stock in a transaction 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 completion of the sale, the executive vice president now owns 62,909 shares in the company, valued at approximately $5,136,519.85. The trade was a 16.35 % decrease in their position. The disclosure for this sale can be found here. Insiders own 5.12% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. State Street Corp grew its position in RadNet by 1.3% during the third quarter. State Street Corp now owns 2,446,179 shares of the medical research company’s stock worth $169,740,000 after buying an additional 30,244 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of RadNet by 0.8% in the 3rd quarter. Geode Capital Management LLC now owns 1,555,214 shares of the medical research company’s stock worth $107,936,000 after acquiring an additional 11,613 shares during the period. Principal Financial Group Inc. grew its holdings in shares of RadNet by 8.5% during the 3rd quarter. Principal Financial Group Inc. now owns 1,506,545 shares of the medical research company’s stock worth $104,539,000 after purchasing an additional 118,501 shares in the last quarter. JB Capital Partners LP increased its position in shares of RadNet by 15.9% during the third quarter. JB Capital Partners LP now owns 1,504,061 shares of the medical research company’s stock valued at $104,367,000 after purchasing an additional 206,850 shares during the period. Finally, Allspring Global Investments Holdings LLC raised its stake in shares of RadNet by 11.8% in the third quarter. Allspring Global Investments Holdings LLC now owns 1,131,849 shares of the medical research company’s stock valued at $78,539,000 after purchasing an additional 119,875 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.