RadNet (NASDAQ:RDNT) Price Target Raised to $75.00

RadNet (NASDAQ:RDNT) had its price target raised by Jefferies Financial Group from $61.00 to $75.00 in a research note released on Thursday morning, Benzinga reports. They currently have a buy rating on the medical research company’s stock.

A number of other equities research analysts have also recently weighed in on the stock. StockNews.com cut shares of RadNet from a hold rating to a sell rating in a research note on Wednesday, May 15th. Truist Financial reiterated a buy rating and issued a $63.00 price target (up from $55.00) on shares of RadNet in a research report on Wednesday, May 15th. Barclays boosted their price target on shares of RadNet from $48.00 to $51.00 and gave the stock an equal weight rating in a research report on Wednesday, July 10th. Finally, Raymond James boosted their price target on shares of RadNet from $50.00 to $60.00 and gave the stock an outperform rating in a research report on Friday, May 10th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, RadNet has an average rating of Hold and a consensus price target of $62.25.

RadNet Stock Performance

Shares of RDNT opened at $61.41 on Thursday. RadNet has a 1 year low of $25.11 and a 1 year high of $64.06. The company has a market cap of $4.54 billion, a price-to-earnings ratio of 204.70 and a beta of 1.75. The company has a debt-to-equity ratio of 0.76, a quick ratio of 1.86 and a current ratio of 1.86. The firm has a fifty day moving average of $58.20 and a 200-day moving average of $47.98.

RadNet (NASDAQ:RDNT) last issued its quarterly earnings data on Wednesday, May 8th. The medical research company reported $0.07 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.09) by $0.16. RadNet had a net margin of 1.28% and a return on equity of 5.05%. The business had revenue of $431.70 million for the quarter, compared to analysts’ expectations of $421.72 million. During the same period in the previous year, the business earned ($0.08) earnings per share. The company’s revenue was up 10.5% on a year-over-year basis. As a group, equities analysts anticipate that RadNet will post 0.58 earnings per share for the current year.

Insider Buying and Selling at RadNet

In other RadNet news, COO Norman R. Hames sold 18,597 shares of RadNet stock in a transaction dated Wednesday, June 12th. The stock was sold at an average price of $63.08, for a total transaction of $1,173,098.76. Following the transaction, the chief operating officer now owns 227,322 shares of the company’s stock, valued at approximately $14,339,471.76. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, COO Norman R. Hames sold 18,597 shares of the business’s stock in a transaction that occurred on Wednesday, June 12th. The stock was sold at an average price of $63.08, for a total value of $1,173,098.76. Following the completion of the sale, the chief operating officer now owns 227,322 shares of the company’s stock, valued at approximately $14,339,471.76. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, CFO Mark Stolper sold 25,000 shares of the business’s stock in a transaction that occurred on Monday, June 10th. The shares were sold at an average price of $61.27, for a total value of $1,531,750.00. Following the completion of the sale, the chief financial officer now directly owns 80,398 shares of the company’s stock, valued at approximately $4,925,985.46. The disclosure for this sale can be found here. Insiders have sold a total of 99,730 shares of company stock valued at $6,121,516 in the last 90 days. 5.12% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On RadNet

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. lifted its holdings in RadNet by 8.1% in the 1st 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 last quarter. Dimensional Fund Advisors LP lifted its holdings in RadNet by 4.3% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,744,124 shares of the medical research company’s stock worth $60,646,000 after purchasing an additional 71,714 shares during the last quarter. Principal Financial Group Inc. lifted its holdings in RadNet by 11.8% in the 1st quarter. Principal Financial Group Inc. now owns 1,442,887 shares of the medical research company’s stock worth $70,211,000 after purchasing an additional 152,305 shares during the last quarter. Hood River Capital Management LLC lifted its holdings in shares of RadNet by 7.8% during the first quarter. Hood River Capital Management LLC now owns 1,071,129 shares of the medical research company’s stock worth $52,121,000 after buying an additional 77,244 shares during the last quarter. Finally, Global Alpha Capital Management Ltd. lifted its holdings in shares of RadNet by 16.2% during the first quarter. Global Alpha Capital Management Ltd. now owns 1,019,934 shares of the medical research company’s stock worth $49,630,000 after buying an additional 141,830 shares during the last quarter. 77.90% of the stock is currently owned by institutional investors and hedge funds.

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.