Barclays Increases RadNet (NASDAQ:RDNT) Price Target to $57.00

RadNet (NASDAQ:RDNT) had its price objective increased by stock analysts at Barclays from $51.00 to $57.00 in a report released on Thursday, Benzinga reports. The brokerage presently has an “equal weight” rating on the medical research company’s stock. Barclays‘s price target suggests a potential downside of 9.28% from the stock’s previous close.

Other research analysts have also recently issued research reports about the stock. Raymond James boosted their price target on shares of RadNet from $50.00 to $60.00 and gave the stock an “outperform” rating in a report on Friday, May 10th. Truist Financial increased their price objective on RadNet from $63.00 to $70.00 and gave the stock a “buy” rating in a research report on Monday, July 15th. StockNews.com downgraded shares of RadNet from a “hold” rating to a “sell” rating in a report on Wednesday, May 15th. Finally, Jefferies Financial Group upped their price objective on RadNet from $61.00 to $75.00 and gave the stock a “buy” rating in a report on Thursday, July 11th. One analyst has rated the stock with a sell rating, one has issued a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $65.50.

RadNet Trading Up 1.9 %

RadNet stock traded up $1.16 during midday trading on Thursday, hitting $62.83. 616,942 shares of the stock were exchanged, compared to its average volume of 553,815. The stock’s 50-day simple moving average is $59.85 and its 200 day simple moving average is $51.27. RadNet has a fifty-two week low of $25.11 and a fifty-two week high of $66.04. The company has a current ratio of 1.86, a quick ratio of 1.86 and a debt-to-equity ratio of 0.76. The stock has a market capitalization of $4.64 billion, a price-to-earnings ratio of 209.43 and a beta of 1.75.

RadNet (NASDAQ:RDNT) last announced its quarterly earnings results 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 1.28% and a return on equity of 5.05%. The company had revenue of $459.70 million for the quarter, compared to analyst estimates of $438.53 million. During the same quarter in the prior year, the business earned $0.24 earnings per share. RadNet’s revenue was up 13.9% on a year-over-year basis. On average, equities analysts anticipate that RadNet will post 0.58 EPS for the current year.

Insider Buying and Selling

In other RadNet news, Director Gregory E. Spurlock sold 7,167 shares of RadNet stock in a transaction on Monday, June 17th. The shares were sold at an average price of $59.75, for a total value of $428,228.25. Following the transaction, the director now owns 9,758 shares in the company, valued at approximately $583,040.50. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, EVP Alma Gregory Sorensen sold 5,000 shares of the stock in a transaction that occurred on Tuesday, June 11th. The shares were sold at an average price of $61.24, for a total transaction of $306,200.00. Following the completion of the sale, the executive vice president now owns 1,249,205 shares of the company’s stock, valued at approximately $76,501,314.20. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Gregory E. Spurlock sold 7,167 shares of the firm’s stock in a transaction that occurred on Monday, June 17th. The shares were sold at an average price of $59.75, for a total transaction of $428,228.25. Following the completion of the transaction, the director now owns 9,758 shares in the company, valued at approximately $583,040.50. The disclosure for this sale can be found here. Over the last three months, insiders have sold 99,730 shares of company stock valued at $6,121,516. Insiders own 5.12% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of RDNT. Nisa Investment Advisors LLC lifted its position in shares of RadNet by 774.2% during the second quarter. Nisa Investment Advisors LLC now owns 848 shares of the medical research company’s stock worth $50,000 after purchasing an additional 751 shares in the last quarter. GAMMA Investing LLC boosted its position in 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 buying an additional 370 shares during the last quarter. Assetmark Inc. boosted its position in RadNet by 35.2% in the 4th quarter. Assetmark Inc. now owns 3,183 shares of the medical research company’s stock valued at $111,000 after buying an additional 829 shares during the last quarter. SG Americas Securities LLC grew its stake in shares of RadNet by 8.7% during the first quarter. SG Americas Securities LLC now owns 3,637 shares of the medical research company’s stock valued at $177,000 after acquiring an additional 291 shares in the last quarter. Finally, MQS Management LLC purchased a new stake in shares of RadNet during the first quarter worth about $207,000. Institutional investors and hedge funds own 77.90% of the company’s stock.

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.