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

RadNet, Inc. (NASDAQ:RDNT) has received a consensus rating of “Buy” from the five analysts that are presently covering the firm, Marketbeat.com reports. Four analysts have rated the stock with a buy rating and one has issued a strong buy rating on the company. The average 12-month price objective among brokers that have issued ratings on the stock in the last year is $74.75.

Several analysts recently issued reports on RDNT shares. Barclays raised shares of RadNet from an “equal weight” rating to an “overweight” rating and upped their price objective for the company from $57.00 to $79.00 in a research note on Friday, September 6th. Sidoti raised RadNet to a “strong-buy” rating in a report on Friday, October 4th. Jefferies Financial Group boosted their price objective on RadNet from $75.00 to $80.00 and gave the stock a “buy” rating in a research note on Thursday, September 19th. Finally, Truist Financial raised their target price on RadNet from $70.00 to $80.00 and gave the stock a “buy” rating in a research note on Monday, September 23rd.

Insider Activity at RadNet

In other news, EVP Michael N. Murdock sold 15,000 shares of the company’s stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $62.78, for a total value of $941,700.00. Following the transaction, the executive vice president now owns 48,144 shares of the company’s stock, valued at $3,022,480.32. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 5.12% of the stock is currently owned by insiders.

Institutional Trading of RadNet

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Vanguard Group Inc. raised its stake in shares of RadNet by 0.8% in the 4th quarter. Vanguard Group Inc. now owns 4,254,717 shares of the medical research company’s stock valued at $147,937,000 after acquiring an additional 32,483 shares during the period. UniSuper Management Pty Ltd acquired a new position in RadNet during the first quarter worth $683,000. Janus Henderson Group PLC boosted its position in shares of RadNet by 108.6% during the first quarter. Janus Henderson Group PLC now owns 64,029 shares of the medical research company’s stock worth $3,112,000 after buying an additional 33,335 shares during the period. Russell Investments Group Ltd. grew its stake in shares of RadNet by 103.4% in the first quarter. Russell Investments Group Ltd. now owns 249,898 shares of the medical research company’s stock valued at $12,160,000 after buying an additional 127,039 shares in the last quarter. Finally, Sei Investments Co. raised its holdings in shares of RadNet by 18.8% in the 1st quarter. Sei Investments Co. now owns 65,899 shares of the medical research company’s stock valued at $3,207,000 after buying an additional 10,430 shares during the period. 77.90% of the stock is owned by institutional investors and hedge funds.

RadNet Price Performance

Shares of RadNet stock opened at $70.62 on Tuesday. The stock has a market capitalization of $5.22 billion, a P/E ratio of 235.40 and a beta of 1.74. The business has a 50 day simple moving average of $65.15 and a two-hundred day simple moving average of $59.17. RadNet has a 12 month low of $25.11 and a 12 month high of $71.92. The company has a debt-to-equity ratio of 0.92, a current ratio of 2.12 and a quick ratio of 2.12.

RadNet (NASDAQ:RDNT) last announced its quarterly earnings data 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 0.58% and a return on equity of 4.30%. The firm had revenue of $459.70 million during the quarter, compared to analysts’ expectations of $438.53 million. During the same quarter in the previous year, the business posted $0.24 EPS. The company’s revenue for the quarter was up 13.9% on a year-over-year basis. As a group, analysts predict that RadNet will post 0.6 EPS for the current fiscal 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.