RadNet, Inc. (NASDAQ:RDNT) Receives $69.60 Average Price Target from Analysts

Shares of RadNet, Inc. (NASDAQ:RDNT) have been assigned an average rating of “Strong Buy” from the six brokerages that are presently covering the stock, MarketBeat reports. Three equities research analysts have rated the stock with a buy recommendation and three have issued a strong buy recommendation on the company. The average 1 year price objective among brokers that have covered the stock in the last year is $69.60.

Several equities research analysts have commented on the company. Wall Street Zen lowered RadNet from a “hold” rating to a “sell” rating in a research report on Sunday, June 29th. B. Riley began coverage on shares of RadNet in a report on Friday, June 13th. They set a “buy” rating and a $69.00 price target on the stock. Finally, Truist Financial set a $74.00 price objective on shares of RadNet in a report on Thursday, July 10th.

Insider Activity

In related news, COO Norman R. Hames sold 2,911 shares of RadNet stock in a transaction dated Thursday, May 15th. The stock was sold at an average price of $60.00, for a total value of $174,660.00. Following the sale, the chief operating officer directly owned 24,889 shares in the company, valued at approximately $1,493,340. The trade was a 10.47% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP Alma Gregory Sorensen sold 55,000 shares of the business’s stock in a transaction that occurred on Friday, May 23rd. The stock was sold at an average price of $56.48, for a total value of $3,106,400.00. Following the sale, the executive vice president owned 1,160,509 shares of the company’s stock, valued at approximately $65,545,548.32. This trade represents a 4.52% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 63,447 shares of company stock worth $3,613,220. Company insiders own 5.60% of the company’s stock.

Institutional Trading of RadNet

Large investors have recently made changes to their positions in the company. Headlands Technologies LLC purchased a new position in RadNet in the 1st quarter valued at $28,000. BNP PARIBAS ASSET MANAGEMENT Holding S.A. acquired a new stake in shares of RadNet in the second quarter valued at about $35,000. GAMMA Investing LLC raised its position in shares of RadNet by 22.3% in the first quarter. GAMMA Investing LLC now owns 1,644 shares of the medical research company’s stock valued at $82,000 after buying an additional 300 shares during the last quarter. Family Legacy Financial Solutions LLC purchased a new position in shares of RadNet in the second quarter worth about $85,000. Finally, Jones Financial Companies Lllp boosted its position in RadNet by 563.4% during the first quarter. Jones Financial Companies Lllp now owns 1,705 shares of the medical research company’s stock worth $85,000 after acquiring an additional 1,448 shares during the last quarter. 77.90% of the stock is currently owned by hedge funds and other institutional investors.

RadNet Trading Down 4.5%

Shares of RadNet stock opened at $52.96 on Monday. The stock has a market cap of $3.97 billion, a PE ratio of -123.16 and a beta of 1.43. The firm has a fifty day moving average price of $56.72 and a 200 day moving average price of $56.00. RadNet has a 1 year low of $45.00 and a 1 year high of $93.65. The company has a debt-to-equity ratio of 0.87, a current ratio of 2.01 and a quick ratio of 2.01.

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.