Truist Financial Increases RadNet (NASDAQ:RDNT) Price Target to $80.00

RadNet (NASDAQ:RDNT) had its price target raised by research analysts at Truist Financial from $70.00 to $80.00 in a research note issued on Monday, Benzinga reports. The brokerage presently has a “buy” rating on the medical research company’s stock. Truist Financial’s price objective suggests a potential upside of 14.56% from the stock’s previous close.

A number of other brokerages have also recently weighed in on RDNT. Jefferies Financial Group boosted their price target on shares of RadNet from $75.00 to $80.00 and gave the company a “buy” rating in a research report on Thursday, September 19th. Barclays raised RadNet from an “equal weight” rating to an “overweight” rating and boosted their target price for the company from $57.00 to $79.00 in a report on Friday, September 6th. One research analyst has rated the stock with a sell rating and four have issued a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $74.75.

RadNet Trading Down 1.8 %

NASDAQ RDNT opened at $69.83 on Monday. RadNet has a 52 week low of $25.11 and a 52 week high of $71.80. The firm has a 50 day moving average of $63.30 and a two-hundred day moving average of $57.17. The company has a quick ratio of 2.12, a current ratio of 2.12 and a debt-to-equity ratio of 0.92. The stock has a market capitalization of $5.16 billion, a PE ratio of 232.77 and a beta of 1.74.

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

Insider Activity

In related news, EVP Michael N. Murdock sold 15,000 shares of the stock in a transaction on 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 sale, the executive vice president now directly owns 48,144 shares of the company’s stock, valued at $3,022,480.32. 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 Investors Weigh In On RadNet

Hedge funds have recently added to or reduced their stakes in the company. Nisa Investment Advisors LLC raised its stake in shares of 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 in the last quarter. GAMMA Investing LLC lifted its holdings in RadNet by 74.7% in the second quarter. GAMMA Investing LLC now owns 865 shares of the medical research company’s stock valued at $51,000 after acquiring an additional 370 shares during the period. Assetmark Inc. boosted its position in shares of RadNet by 35.2% during the 4th quarter. Assetmark Inc. now owns 3,183 shares of the medical research company’s stock worth $111,000 after purchasing an additional 829 shares in the last quarter. SG Americas Securities LLC grew its stake in shares of RadNet by 8.7% during the 1st quarter. SG Americas Securities LLC now owns 3,637 shares of the medical research company’s stock worth $177,000 after purchasing an additional 291 shares during the period. Finally, MQS Management LLC purchased a new position in shares of RadNet in the 1st quarter valued at 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.