RadNet (NASDAQ:RDNT) Given New $94.00 Price Target at Truist Financial

RadNet (NASDAQ:RDNT) had its target price raised by Truist Financial from $80.00 to $94.00 in a report published on Friday morning,Benzinga reports. Truist Financial currently has a buy rating on the medical research company’s stock.

Several other brokerages have also issued reports on RDNT. Barclays raised shares of RadNet from an “equal weight” rating to an “overweight” rating and increased their target price for the stock from $57.00 to $79.00 in a research note on Friday, September 6th. Jefferies Financial Group increased their price objective on shares of RadNet from $75.00 to $80.00 and gave the stock a “buy” rating in a research report on Thursday, September 19th. Finally, Sidoti upgraded RadNet to a “strong-buy” rating in a research note on Friday, October 4th. One investment analyst has rated the stock with a sell rating, four have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $78.25.

RadNet Price Performance

Shares of RDNT opened at $81.76 on Friday. The firm has a market cap of $6.05 billion, a PE ratio of -1,168.00 and a beta of 1.75. RadNet has a 52-week low of $32.37 and a 52-week high of $93.65. The business’s 50 day moving average price is $72.43 and its two-hundred day moving average price is $65.02. The company has a debt-to-equity ratio of 0.89, a quick ratio of 2.16 and a current ratio of 2.16.

Insider Buying and Selling at RadNet

In related news, insider Ranjan Jayanathan sold 38,557 shares of the firm’s stock in a transaction dated Tuesday, November 19th. The shares were sold at an average price of $80.00, for a total value of $3,084,560.00. Following the transaction, the insider now owns 192,724 shares of the company’s stock, valued at approximately $15,417,920. This trade represents a 16.67 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP David Jeffrey Katz sold 12,300 shares of the business’s stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $81.65, for a total value of $1,004,295.00. Following the sale, the executive vice president now directly owns 62,909 shares of the company’s stock, valued at $5,136,519.85. This represents a 16.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 5.12% of the company’s stock.

Hedge Funds Weigh In On RadNet

Several large investors have recently bought and sold shares of RDNT. Janus Henderson Group PLC raised its holdings in shares of RadNet by 108.6% in the first quarter. Janus Henderson Group PLC now owns 64,029 shares of the medical research company’s stock valued at $3,112,000 after purchasing an additional 33,335 shares during the last quarter. Lisanti Capital Growth LLC bought a new stake in RadNet in the 3rd quarter worth about $2,922,000. Intech Investment Management LLC purchased a new stake in RadNet in the 2nd quarter valued at about $446,000. Steigerwald Gordon & Koch Inc. lifted its position in shares of RadNet by 153.9% during the 2nd quarter. Steigerwald Gordon & Koch Inc. now owns 15,470 shares of the medical research company’s stock worth $911,000 after buying an additional 9,376 shares in the last quarter. Finally, Pathstone Holdings LLC boosted its stake in shares of RadNet by 58.5% in the 3rd quarter. Pathstone Holdings LLC now owns 27,503 shares of the medical research company’s stock worth $1,908,000 after buying an additional 10,151 shares during the last quarter. 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.