RadNet, Inc. (NASDAQ:RDNT) Receives $74.75 Consensus Price Target from Analysts

RadNet, Inc. (NASDAQ:RDNT) has been assigned a consensus recommendation of “Buy” from the five ratings firms that are covering the company, Marketbeat Ratings reports. Four analysts have rated the stock with a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year price target among brokers that have updated their coverage on the stock in the last year is $74.75.

Several equities research analysts have weighed in on 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 report on Friday, September 6th. Jefferies Financial Group increased their target price on RadNet from $75.00 to $80.00 and gave the stock a “buy” rating in a research report on Thursday, September 19th. Truist Financial increased their target price on RadNet from $70.00 to $80.00 and gave the stock a “buy” rating in a research report on Monday, September 23rd. Finally, Sidoti raised RadNet to a “strong-buy” rating in a report on Friday, October 4th.

Insider Activity

In related news, EVP Michael N. Murdock sold 15,000 shares of the firm’s stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $62.78, for a total transaction of $941,700.00. Following the completion of the transaction, the executive vice president now owns 48,144 shares of the company’s stock, valued at $3,022,480.32. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 5.12% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. AQR Capital Management LLC boosted its stake in RadNet by 3.2% during the second quarter. AQR Capital Management LLC now owns 5,131 shares of the medical research company’s stock valued at $302,000 after buying an additional 160 shares in the last quarter. SG Americas Securities LLC boosted its position in shares of RadNet by 8.7% in 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. Hanseatic Management Services Inc. boosted its position in shares of RadNet by 1.8% in the 2nd quarter. Hanseatic Management Services Inc. now owns 19,968 shares of the medical research company’s stock valued at $1,177,000 after purchasing an additional 353 shares during the period. GAMMA Investing LLC boosted its position in shares of RadNet by 74.7% in the 2nd quarter. GAMMA Investing LLC now owns 865 shares of the medical research company’s stock valued at $51,000 after purchasing an additional 370 shares during the period. Finally, Mutual of America Capital Management LLC boosted its position in shares of RadNet by 6.2% in the 1st quarter. Mutual of America Capital Management LLC now owns 11,232 shares of the medical research company’s stock valued at $547,000 after purchasing an additional 656 shares during the period. Institutional investors own 77.90% of the company’s stock.

RadNet Stock Performance

RDNT stock opened at $68.58 on Tuesday. The company has a current ratio of 2.12, a quick ratio of 2.12 and a debt-to-equity ratio of 0.92. The firm has a market cap of $5.07 billion, a P/E ratio of 228.60 and a beta of 1.74. RadNet has a 12-month low of $25.11 and a 12-month high of $71.92. The stock’s 50 day simple moving average is $65.15 and its 200 day simple moving average is $59.10.

RadNet (NASDAQ:RDNT) last issued its earnings results on Wednesday, August 7th. The medical research company reported $0.16 earnings per share for the quarter, missing the consensus estimate of $0.17 by ($0.01). RadNet had a return on equity of 4.30% and a net margin of 0.58%. The company had revenue of $459.70 million during the quarter, compared to analyst estimates of $438.53 million. During the same period in the prior year, the business earned $0.24 earnings per share. RadNet’s quarterly revenue was up 13.9% on a year-over-year basis. As a group, equities research analysts predict that RadNet will post 0.6 EPS for the current year.

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.