RadNet’s (RDNT) Buy Rating Reiterated at Truist Financial

Truist Financial restated their buy rating on shares of RadNet (NASDAQ:RDNT) in a research note published on Wednesday morning,Benzinga reports. They currently have a $88.00 price objective on the medical research company’s stock, down from their previous price objective of $94.00.

RDNT has been the topic of a number of other reports. Barclays reduced their target price on shares of RadNet from $85.00 to $74.00 and set an “overweight” rating on the stock in a report on Wednesday. Jefferies Financial Group reduced their price objective on RadNet from $100.00 to $80.00 and set a “buy” rating on the stock in a research note on Wednesday, January 15th. Finally, Sidoti raised RadNet to a “strong-buy” rating in a research note on Friday, October 4th. One investment analyst has rated the stock with a sell rating, four have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $75.50.

RadNet Trading Up 5.9 %

RDNT stock opened at $63.73 on Wednesday. The firm has a fifty day moving average price of $74.76 and a 200 day moving average price of $68.64. RadNet has a fifty-two week low of $35.16 and a fifty-two week high of $93.65. The firm has a market cap of $4.72 billion, a PE ratio of -910.30 and a beta of 1.79. The company has a debt-to-equity ratio of 0.89, a quick ratio of 2.16 and a current ratio of 2.16.

Insider Activity at RadNet

In related news, EVP David Jeffrey Katz sold 12,300 shares of the firm’s 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 completion of the sale, the executive vice president now directly owns 62,909 shares of the company’s stock, valued at approximately $5,136,519.85. This trade represents a 16.35 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Ranjan Jayanathan sold 38,557 shares of the company’s 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 transaction, the insider now directly owns 192,724 shares in the company, valued at $15,417,920. This trade represents a 16.67 % decrease in their position. The disclosure for this sale can be found here. 5.12% of the stock is currently owned by insiders.

Institutional Trading of RadNet

Large investors have recently made changes to their positions in the stock. Covestor Ltd lifted its holdings in RadNet by 10,875.0% during the 3rd quarter. Covestor Ltd now owns 439 shares of the medical research company’s stock valued at $30,000 after buying an additional 435 shares in the last quarter. USA Financial Formulas purchased a new position in shares of RadNet during the fourth quarter worth approximately $30,000. Fifth Third Bancorp raised its stake in shares of RadNet by 84.3% during the fourth quarter. Fifth Third Bancorp now owns 667 shares of the medical research company’s stock valued at $47,000 after acquiring an additional 305 shares in the last quarter. Highline Wealth Partners LLC bought a new position in RadNet in the third quarter worth approximately $68,000. Finally, Peterson Financial Group Inc. purchased a new position in RadNet during the 3rd quarter worth $90,000. 77.90% of the stock is owned by hedge funds and other 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.