RadNet (NASDAQ:RDNT) Shares Gap Up – What’s Next?

RadNet, Inc. (NASDAQ:RDNT)’s share price gapped up before the market opened on Monday . The stock had previously closed at $72.53, but opened at $88.00. RadNet shares last traded at $90.86, with a volume of 775,812 shares changing hands.

Analyst Upgrades and Downgrades

RDNT has been the subject of several research reports. Sidoti raised shares of RadNet to a “strong-buy” rating in a research note on Friday, October 4th. Truist Financial raised their price objective on RadNet from $70.00 to $80.00 and gave the company a “buy” rating in a report on Monday, September 23rd. Jefferies Financial Group increased their target price on RadNet from $75.00 to $80.00 and gave the company a “buy” rating in a research report on Thursday, September 19th. Finally, Barclays upgraded 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 report on Friday, September 6th. One equities research analyst has rated the stock with a sell rating, four have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $74.75.

RadNet Price Performance

The company has a 50-day moving average of $67.76 and a 200-day moving average of $62.26. The company has a current ratio of 2.16, a quick ratio of 2.12 and a debt-to-equity ratio of 0.89.

Insider Buying and Selling

In other RadNet news, EVP Michael N. Murdock sold 15,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 21st. The shares were 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 in the company, valued at approximately $3,022,480.32. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 5.12% of the stock is owned by insiders.

Institutional Investors Weigh In On RadNet

Hedge funds have recently added to or reduced their stakes in the business. Covestor Ltd increased its stake in shares of RadNet by 10,875.0% in the 3rd quarter. Covestor Ltd now owns 439 shares of the medical research company’s stock valued at $30,000 after acquiring an additional 435 shares in the last quarter. Nisa Investment Advisors LLC raised its holdings 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 valued at $50,000 after purchasing an additional 751 shares during the period. GAMMA Investing LLC boosted its position in shares of RadNet by 74.7% during the 2nd 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 acquired a new stake in RadNet in the third quarter valued at approximately $68,000. Finally, Peterson Financial Group Inc. bought a new position in shares of RadNet in the 3rd 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.