Brokerages Set RadNet, Inc. (NASDAQ:RDNT) PT at $90.33

Shares of RadNet, Inc. (NASDAQ:RDNT) have earned a consensus recommendation of “Moderate Buy” from the nine analysts that are presently covering the stock, Marketbeat.com reports. One analyst has rated the stock with a sell recommendation, one has given a hold recommendation, five have assigned a buy recommendation and two have assigned a strong buy recommendation to the company. The average 12 month target price among brokers that have covered the stock in the last year is $90.3333.

Several research firms have recently issued reports on RDNT. UBS Group set a $92.00 price objective on shares of RadNet in a research report on Friday, January 9th. Truist Financial set a $90.00 price target on RadNet in a report on Wednesday, December 17th. Weiss Ratings reiterated a “sell (d-)” rating on shares of RadNet in a report on Monday, December 29th. The Goldman Sachs Group raised RadNet to a “buy” rating in a research report on Tuesday, December 16th. Finally, B. Riley Financial upped their price target on RadNet from $71.00 to $87.00 and gave the company a “buy” rating in a report on Monday, December 1st.

RadNet Stock Down 0.6%

RDNT stock opened at $70.08 on Friday. The company’s 50 day moving average price is $71.96 and its 200 day moving average price is $74.02. The firm has a market capitalization of $5.41 billion, a price-to-earnings ratio of -412.21 and a beta of 1.49. RadNet has a fifty-two week low of $45.00 and a fifty-two week high of $85.84. The company has a debt-to-equity ratio of 0.82, a quick ratio of 1.87 and a current ratio of 1.87.

Institutional Investors Weigh In On RadNet

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. boosted its stake in RadNet by 1.3% in the third quarter. Vanguard Group Inc. now owns 7,483,869 shares of the medical research company’s stock valued at $570,346,000 after acquiring an additional 95,015 shares in the last quarter. RTW Investments LP grew its stake in RadNet by 39.9% during the 4th quarter. RTW Investments LP now owns 3,938,500 shares of the medical research company’s stock worth $281,012,000 after buying an additional 1,122,956 shares during the last quarter. Beck Mack & Oliver LLC increased its position in RadNet by 0.4% during the third quarter. Beck Mack & Oliver LLC now owns 3,276,774 shares of the medical research company’s stock worth $249,723,000 after buying an additional 13,633 shares during the period. Price T Rowe Associates Inc. MD lifted its stake in RadNet by 30.3% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 2,699,082 shares of the medical research company’s stock valued at $192,581,000 after buying an additional 627,936 shares during the last quarter. Finally, State Street Corp boosted its holdings in shares of RadNet by 1.6% in the fourth quarter. State Street Corp now owns 2,579,073 shares of the medical research company’s stock valued at $184,017,000 after acquiring an additional 41,356 shares during the period. 77.90% of the stock is currently owned by institutional investors and hedge funds.

About RadNet

RadNet, Inc is a leading independent provider of outpatient diagnostic imaging services in the United States. Through a nationwide network of fixed-site imaging centers and affiliated joint-venture locations, the company delivers a comprehensive suite of radiology services including MRI, CT, PET/CT, ultrasound, X-ray, mammography, bone densitometry, nuclear medicine and interventional radiology procedures. RadNet also offers teleradiology and imaging management solutions to physician practices, hospitals and healthcare systems.

Founded in 1981 and headquartered in Los Angeles, RadNet has expanded its footprint organically and through strategic acquisitions.