RadNet’s (RDNT) Buy Rating Reiterated at Truist Financial

Truist Financial reiterated their buy rating on shares of RadNet (NASDAQ:RDNT) in a research report report published on Wednesday,Benzinga reports. They currently have a $88.00 price objective on the medical research company’s stock, down from their previous price objective of $94.00.

Several other brokerages have also commented on RDNT. Sidoti raised RadNet to a “strong-buy” rating in a research note on Friday, October 4th. Jefferies Financial Group lowered their target price on shares of RadNet from $100.00 to $80.00 and set a “buy” rating on the stock in a report on Wednesday, January 15th. Finally, Barclays cut their price target on shares of RadNet from $85.00 to $74.00 and set an “overweight” rating for the company in a report on Wednesday. One equities research analyst has rated the stock with a sell rating, four have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, RadNet presently has a consensus rating of “Moderate Buy” and an average target price of $75.50.

RadNet Stock Down 1.3 %

NASDAQ RDNT opened at $64.08 on Wednesday. RadNet has a 1-year low of $35.16 and a 1-year high of $93.65. The company has a market capitalization of $4.74 billion, a price-to-earnings ratio of -915.30 and a beta of 1.79. The stock’s 50 day moving average is $73.75 and its two-hundred day moving average is $68.61. The company has a current ratio of 2.16, a quick ratio of 2.16 and a debt-to-equity ratio of 0.89.

Insider Activity

In other RadNet news, insider Ranjan Jayanathan sold 38,557 shares of the company’s stock in a transaction on Tuesday, November 19th. The stock was sold at an average price of $80.00, for a total transaction 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 represents a 16.67 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP David Jeffrey Katz sold 12,300 shares of RadNet stock in a transaction on Monday, November 25th. The shares were sold at an average price of $81.65, for a total value of $1,004,295.00. Following the completion of the sale, the executive vice president now directly owns 62,909 shares of the company’s stock, valued at $5,136,519.85. This trade represents a 16.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 5.12% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in RDNT. Highland Capital Management LLC grew its position in shares of RadNet by 6.5% during the 4th quarter. Highland Capital Management LLC now owns 3,307 shares of the medical research company’s stock worth $231,000 after buying an additional 202 shares during the period. KBC Group NV boosted its stake in RadNet by 47.6% in the fourth quarter. KBC Group NV now owns 2,678 shares of the medical research company’s stock valued at $187,000 after acquiring an additional 864 shares during the last quarter. Fifth Third Bancorp grew its holdings in RadNet by 84.3% during the 4th quarter. Fifth Third Bancorp now owns 667 shares of the medical research company’s stock worth $47,000 after acquiring an additional 305 shares during the period. Nisa Investment Advisors LLC raised its position in shares of RadNet by 20.0% during the 4th quarter. Nisa Investment Advisors LLC now owns 4,291 shares of the medical research company’s stock valued at $300,000 after acquiring an additional 716 shares during the last quarter. Finally, Connective Portfolio Management LLC bought a new position in shares of RadNet in the 4th quarter worth $2,177,000. 77.90% of the stock is currently owned by institutional investors and hedge funds.

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.