Analysts Set RadNet, Inc. (NASDAQ:RDNT) Price Target at $76.75

Shares of RadNet, Inc. (NASDAQ:RDNT) have been assigned a consensus recommendation of “Buy” from the five research firms that are presently covering the firm, MarketBeat reports. Three analysts have rated the stock with a buy recommendation and two have assigned a strong buy recommendation to the company. The average twelve-month price objective among brokers that have updated their coverage on the stock in the last year is $76.75.

Several equities research analysts have recently issued reports on the stock. Truist Financial reiterated a “buy” rating and set a $88.00 price objective (down previously from $94.00) on shares of RadNet in a research report on Wednesday, January 22nd. Raymond James upgraded shares of RadNet from an “outperform” rating to a “strong-buy” rating and decreased their price target for the stock from $85.00 to $65.00 in a research note on Wednesday, March 5th. Jefferies Financial Group cut their price objective on RadNet from $100.00 to $80.00 and set a “buy” rating for the company in a research report on Wednesday, January 15th. Finally, Barclays reduced their target price on RadNet from $85.00 to $74.00 and set an “overweight” rating on the stock in a report on Wednesday, January 22nd.

Insider Transactions at RadNet

In other RadNet news, Director David L. Swartz sold 25,000 shares of the business’s stock in a transaction that occurred on Friday, March 7th. The stock was sold at an average price of $50.84, for a total transaction of $1,271,000.00. Following the sale, the director now directly owns 174,067 shares of the company’s stock, valued at $8,849,566.28. The trade was a 12.56 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Cornelis Wesdorp sold 2,000 shares of the company’s stock in a transaction that occurred on Wednesday, March 5th. The shares were sold at an average price of $52.58, for a total value of $105,160.00. Following the sale, the chief executive officer now owns 58,995 shares in the company, valued at approximately $3,101,957.10. This trade represents a 3.28 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 28,000 shares of company stock worth $1,426,680 in the last three months. Insiders own 5.12% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the company. Franklin Resources Inc. lifted its holdings in shares of RadNet by 12.0% in the 3rd quarter. Franklin Resources Inc. now owns 387,061 shares of the medical research company’s stock worth $27,334,000 after acquiring an additional 41,381 shares during the last quarter. KBC Group NV lifted its stake in RadNet by 47.6% in the fourth quarter. KBC Group NV now owns 2,678 shares of the medical research company’s stock worth $187,000 after purchasing an additional 864 shares during the last quarter. Lisanti Capital Growth LLC purchased a new position in shares of RadNet during the third quarter valued at approximately $2,922,000. Pathstone Holdings LLC grew its stake in shares of RadNet by 58.5% during the third quarter. Pathstone Holdings LLC now owns 27,503 shares of the medical research company’s stock valued at $1,908,000 after buying an additional 10,151 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC grew its stake in shares of RadNet by 30.4% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 1,475,995 shares of the medical research company’s stock valued at $103,532,000 after buying an additional 344,146 shares during the last quarter. Institutional investors own 77.90% of the company’s stock.

RadNet Trading Down 2.8 %

Shares of RDNT stock opened at $45.92 on Friday. 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 stock has a fifty day simple moving average of $61.50 and a two-hundred day simple moving average of $68.14. The firm has a market capitalization of $3.40 billion, a PE ratio of -655.91 and a beta of 1.85. RadNet has a 52-week low of $42.45 and a 52-week high of $93.65.

RadNet (NASDAQ:RDNT) last released its earnings results on Thursday, February 27th. The medical research company reported $0.22 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.21 by $0.01. RadNet had a positive return on equity of 4.29% and a negative net margin of 0.25%. The firm had revenue of $477.10 million during the quarter, compared to analysts’ expectations of $459.42 million. On average, analysts predict that RadNet will post 0.56 EPS for the current fiscal year.

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.