Jefferies Financial Group Issues Positive Forecast for RadNet (NASDAQ:RDNT) Stock Price

RadNet (NASDAQ:RDNT) had its price objective raised by Jefferies Financial Group from $82.00 to $100.00 in a research note issued to investors on Thursday,Benzinga reports. They currently have a buy rating on the medical research company’s stock.

Several other research analysts also recently issued reports on the company. Barclays upped their price objective on RadNet from $79.00 to $85.00 and gave the stock an “overweight” rating in a report on Wednesday. Truist Financial upped their price objective on RadNet from $80.00 to $94.00 and gave the stock a “buy” rating in a report on Friday, November 29th. Finally, Sidoti raised RadNet to a “strong-buy” rating in a report on Friday, October 4th. 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’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $84.75.

RadNet Stock Down 2.1 %

Shares of RDNT opened at $79.16 on Thursday. The company has a market capitalization of $5.86 billion, a P/E ratio of -1,130.70 and a beta of 1.77. The company has a debt-to-equity ratio of 0.89, a current ratio of 2.16 and a quick ratio of 2.16. RadNet has a one year low of $33.44 and a one year high of $93.65. The business’s 50 day simple moving average is $73.28 and its 200-day simple moving average is $65.67.

Insider Transactions 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 completion of the sale, the insider now directly owns 192,724 shares in the company, valued at approximately $15,417,920. This trade represents a 16.67 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP David Jeffrey Katz sold 12,300 shares of the firm’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 transaction of $1,004,295.00. Following the sale, the executive vice president now 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. Company insiders own 5.12% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. Lisanti Capital Growth LLC bought a new position in RadNet in the third quarter valued at approximately $2,922,000. Intech Investment Management LLC bought a new position in RadNet in the second quarter valued at approximately $446,000. Pathstone Holdings LLC grew its stake in shares of RadNet by 58.5% during the third 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. Steigerwald Gordon & Koch Inc. grew its stake in shares of RadNet by 153.9% during the second 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 during the last quarter. Finally, Bleakley Financial Group LLC bought a new stake in shares of RadNet during the third quarter worth $750,000. 77.90% of the stock is 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.