RadNet (NASDAQ:RDNT) Shares Gap Up – Here’s What Happened

RadNet, Inc. (NASDAQ:RDNT) gapped up prior to trading on Thursday . The stock had previously closed at $79.85, but opened at $82.80. RadNet shares last traded at $82.16, with a volume of 14,284 shares trading hands.

Analyst Ratings Changes

Several research firms recently commented on RDNT. Jefferies Financial Group boosted their price target 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 boosted their price target on RadNet from $70.00 to $80.00 and gave the stock a “buy” rating in a research report on Monday, September 23rd. Sidoti raised RadNet to a “strong-buy” rating in a research report on Friday, October 4th. Finally, Barclays raised RadNet from an “equal weight” rating to an “overweight” rating and boosted their price target for the stock from $57.00 to $79.00 in a research report on Friday, September 6th. One investment analyst has rated the stock with a sell rating, four have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, RadNet has a consensus rating of “Moderate Buy” and an average price target of $74.75.

RadNet Stock Performance

The stock has a 50-day simple moving average of $70.44 and a 200-day simple moving average of $63.70. The company has a market capitalization of $6.04 billion, a price-to-earnings ratio of -1,173.55 and a beta of 1.75. The company has a current ratio of 2.16, a quick ratio of 2.16 and a debt-to-equity ratio of 0.89.

Institutional Investors Weigh In On RadNet

A number of institutional investors have recently made changes to their positions in RDNT. Covestor Ltd grew its stake in RadNet by 10,875.0% during the 3rd quarter. Covestor Ltd now owns 439 shares of the medical research company’s stock worth $30,000 after buying an additional 435 shares during the last quarter. Nisa Investment Advisors LLC grew its stake in RadNet by 774.2% during the 2nd quarter. Nisa Investment Advisors LLC now owns 848 shares of the medical research company’s stock worth $50,000 after buying an additional 751 shares during the last quarter. GAMMA Investing LLC grew its stake in shares of RadNet by 74.7% in the second quarter. GAMMA Investing LLC now owns 865 shares of the medical research company’s stock worth $51,000 after purchasing an additional 370 shares in the last quarter. Highline Wealth Partners LLC bought a new position in shares of RadNet in the third quarter worth $68,000. Finally, Peterson Financial Group Inc. bought a new position in shares of RadNet in the third quarter worth $90,000. 77.90% of the stock is currently owned by institutional investors.

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.