RadNet (NASDAQ:RDNT) Price Target Raised to $94.00 at Truist Financial

RadNet (NASDAQ:RDNT) had its target price increased by equities researchers at Truist Financial from $80.00 to $94.00 in a research report issued to clients and investors on Friday,Benzinga reports. The brokerage presently has a “buy” rating on the medical research company’s stock. Truist Financial’s price target suggests a potential upside of 14.97% from the stock’s previous close.

Other equities research analysts have also recently issued reports about the company. Barclays raised RadNet from an “equal weight” rating to an “overweight” rating and increased their target price for the stock from $57.00 to $79.00 in a research note on Friday, September 6th. Jefferies Financial Group upped their price target on shares of RadNet from $75.00 to $80.00 and gave the stock a “buy” rating in a research note on Thursday, September 19th. Finally, Sidoti upgraded shares of RadNet to a “strong-buy” rating in a research note on Friday, October 4th. One 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’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $78.25.

RadNet Stock Down 0.9 %

Shares of RDNT traded down $0.73 during mid-day trading on Friday, reaching $81.76. The company had a trading volume of 425,028 shares, compared to its average volume of 550,494. The company has a debt-to-equity ratio of 0.89, a quick ratio of 2.16 and a current ratio of 2.16. The company has a market capitalization of $6.05 billion, a price-to-earnings ratio of -1,167.83 and a beta of 1.75. The firm has a 50-day moving average price of $72.18 and a 200 day moving average price of $64.84. RadNet has a 52 week low of $32.37 and a 52 week high of $93.65.

Insider Activity at RadNet

In other news, EVP David Jeffrey Katz sold 12,300 shares of the stock in a transaction 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 transaction, the executive vice president now directly owns 62,909 shares of the company’s stock, valued at $5,136,519.85. This represents a 16.35 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Ranjan Jayanathan sold 38,557 shares of RadNet stock in a transaction on Tuesday, November 19th. The stock was sold at an average price of $80.00, for a total value of $3,084,560.00. Following the completion of the sale, the insider now directly owns 192,724 shares of the company’s stock, valued at $15,417,920. The trade was 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 Inflows and Outflows

A number of institutional investors have recently bought and sold shares of RDNT. State Street Corp grew its position in RadNet by 1.3% during the third quarter. State Street Corp now owns 2,446,179 shares of the medical research company’s stock valued at $169,740,000 after buying an additional 30,244 shares during the period. Geode Capital Management LLC boosted its stake in shares of RadNet by 0.8% during the 3rd quarter. Geode Capital Management LLC now owns 1,555,214 shares of the medical research company’s stock worth $107,936,000 after acquiring an additional 11,613 shares during the last quarter. Principal Financial Group Inc. grew its position in shares of RadNet by 8.5% during the 3rd quarter. Principal Financial Group Inc. now owns 1,506,545 shares of the medical research company’s stock valued at $104,539,000 after acquiring an additional 118,501 shares during the period. JB Capital Partners LP increased its stake in shares of RadNet by 15.9% in the 3rd quarter. JB Capital Partners LP now owns 1,504,061 shares of the medical research company’s stock worth $104,367,000 after purchasing an additional 206,850 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC increased its stake in shares of RadNet by 11.8% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 1,131,849 shares of the medical research company’s stock worth $78,539,000 after purchasing an additional 119,875 shares in the last quarter. Institutional investors 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.