RadNet (NASDAQ:RDNT) Price Target Raised to $70.00

RadNet (NASDAQ:RDNT) had its price target lifted by Truist Financial from $63.00 to $70.00 in a report published on Monday, Benzinga reports. Truist Financial currently has a buy rating on the medical research company’s stock.

Other equities analysts have also issued research reports about the company. StockNews.com lowered RadNet from a hold rating to a sell rating in a research note on Wednesday, May 15th. Jefferies Financial Group boosted their target price on RadNet from $61.00 to $75.00 and gave the stock a buy rating in a research note on Thursday, July 11th. Barclays increased their target price on shares of RadNet from $48.00 to $51.00 and gave the stock an equal weight rating in a report on Wednesday, July 10th. Finally, Raymond James lifted their price target on shares of RadNet from $50.00 to $60.00 and gave the company an outperform rating in a report on Friday, May 10th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, RadNet has an average rating of Hold and an average target price of $64.00.

RadNet Stock Down 4.3 %

RDNT stock opened at $62.33 on Monday. RadNet has a 52 week low of $25.11 and a 52 week high of $65.72. The business has a 50-day simple moving average of $58.90 and a 200 day simple moving average of $48.48. The company has a quick ratio of 1.86, a current ratio of 1.86 and a debt-to-equity ratio of 0.76. The company has a market cap of $4.60 billion, a PE ratio of 207.77 and a beta of 1.75.

RadNet (NASDAQ:RDNT) last issued its earnings results on Wednesday, May 8th. The medical research company reported $0.07 EPS for the quarter, beating the consensus estimate of ($0.09) by $0.16. RadNet had a net margin of 1.28% and a return on equity of 5.05%. The company had revenue of $431.70 million during the quarter, compared to analysts’ expectations of $421.72 million. During the same period in the previous year, the company earned ($0.08) EPS. The business’s revenue for the quarter was up 10.5% compared to the same quarter last year. Sell-side analysts anticipate that RadNet will post 0.58 EPS for the current fiscal year.

Insider Buying and Selling at RadNet

In other news, COO Norman R. Hames sold 18,597 shares of the company’s stock in a transaction that occurred on Wednesday, June 12th. The stock was sold at an average price of $63.08, for a total value of $1,173,098.76. Following the completion of the transaction, the chief operating officer now owns 227,322 shares of the company’s stock, valued at $14,339,471.76. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In related news, Director Lawrence L. Levitt sold 4,000 shares of the firm’s stock in a transaction on Friday, June 14th. The stock was sold at an average price of $57.77, for a total transaction of $231,080.00. Following the completion of the transaction, the director now directly owns 172,657 shares of the company’s stock, valued at approximately $9,974,394.89. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, COO Norman R. Hames sold 18,597 shares of RadNet stock in a transaction dated Wednesday, June 12th. The stock was sold at an average price of $63.08, for a total value of $1,173,098.76. Following the transaction, the chief operating officer now directly owns 227,322 shares in the company, valued at $14,339,471.76. The disclosure for this sale can be found here. Over the last three months, insiders sold 99,730 shares of company stock worth $6,121,516. 5.12% of the stock is currently owned by insiders.

Hedge Funds Weigh In On RadNet

A number of hedge funds have recently made changes to their positions in RDNT. SteelPeak Wealth LLC increased its position in RadNet by 25.0% during the 2nd quarter. SteelPeak Wealth LLC now owns 25,000 shares of the medical research company’s stock valued at $1,473,000 after purchasing an additional 5,000 shares during the period. Harbor Capital Advisors Inc. increased its position in shares of RadNet by 224.1% during the second quarter. Harbor Capital Advisors Inc. now owns 174,492 shares of the medical research company’s stock worth $10,281,000 after buying an additional 120,648 shares during the period. GAMMA Investing LLC raised its stake in RadNet by 74.7% during the second quarter. GAMMA Investing LLC now owns 865 shares of the medical research company’s stock worth $51,000 after buying an additional 370 shares during the last quarter. Castleark Management LLC acquired a new position in RadNet in the first quarter valued at $7,286,000. Finally, 8 Knots Management LLC bought a new stake in RadNet during the first quarter valued at $20,273,000. 77.90% of the stock is currently owned by institutional investors.

About RadNet

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.