RadNet (NASDAQ:RDNT) Price Target Raised to $80.00

RadNet (NASDAQ:RDNT) had its price objective raised by research analysts at Jefferies Financial Group from $75.00 to $80.00 in a note issued to investors on Thursday, Benzinga reports. The firm currently has a “buy” rating on the medical research company’s stock. Jefferies Financial Group’s price target would indicate a potential upside of 15.37% from the stock’s previous close.

Several other research firms have also weighed in on RDNT. Truist Financial upped their target price on shares of RadNet from $63.00 to $70.00 and gave the stock a “buy” rating in a report on Monday, July 15th. Barclays raised shares of RadNet from an “equal weight” rating to an “overweight” rating and raised their price objective for the stock from $57.00 to $79.00 in a report on Friday, September 6th. One analyst has rated the stock with a sell rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $72.25.

RadNet Price Performance

Shares of RadNet stock opened at $69.34 on Thursday. The firm has a market cap of $5.12 billion, a P/E ratio of 231.13 and a beta of 1.74. The firm’s 50-day simple moving average is $63.03 and its 200-day simple moving average is $56.72. RadNet has a twelve month low of $25.11 and a twelve month high of $70.37. The company has a debt-to-equity ratio of 0.92, a quick ratio of 2.12 and a current ratio of 2.12.

RadNet (NASDAQ:RDNT) last released its quarterly earnings data on Wednesday, August 7th. The medical research company reported $0.16 earnings per share for the quarter, missing analysts’ consensus estimates of $0.17 by ($0.01). RadNet had a net margin of 0.58% and a return on equity of 4.30%. The company had revenue of $459.70 million for the quarter, compared to analyst estimates of $438.53 million. During the same period in the previous year, the firm posted $0.24 earnings per share. The firm’s revenue for the quarter was up 13.9% compared to the same quarter last year. As a group, research analysts expect that RadNet will post 0.58 EPS for the current fiscal year.

Insiders Place Their Bets

In other RadNet news, EVP Michael N. Murdock sold 15,000 shares of the business’s stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $62.78, for a total value of $941,700.00. Following the completion of the transaction, the executive vice president now directly owns 48,144 shares of the company’s stock, valued at $3,022,480.32. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 5.12% of the company’s stock.

Institutional Trading of RadNet

Hedge funds and other institutional investors have recently modified their holdings of the stock. Nisa Investment Advisors LLC boosted its position in RadNet by 774.2% in the 2nd quarter. Nisa Investment Advisors LLC now owns 848 shares of the medical research company’s stock valued at $50,000 after buying an additional 751 shares during the last quarter. GAMMA Investing LLC increased 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 purchasing an additional 370 shares during the period. Assetmark Inc. raised its holdings in RadNet by 35.2% during the 4th quarter. Assetmark Inc. now owns 3,183 shares of the medical research company’s stock worth $111,000 after purchasing an additional 829 shares during the last quarter. SG Americas Securities LLC lifted its position in RadNet by 8.7% during the 1st quarter. SG Americas Securities LLC now owns 3,637 shares of the medical research company’s stock valued at $177,000 after purchasing an additional 291 shares during the period. Finally, MQS Management LLC bought a new position in shares of RadNet in the 1st quarter valued at about $207,000. Institutional investors and hedge funds 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.