RadNet (NASDAQ:RDNT) Given Buy Rating at Truist Financial

Truist Financial reissued their buy rating on shares of RadNet (NASDAQ:RDNT) in a research report released on Wednesday,Benzinga reports. The firm currently has a $88.00 price target on the medical research company’s stock, down from their previous price target of $94.00.

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

RadNet Price Performance

Shares of RDNT opened at $63.73 on Wednesday. The firm has a market cap of $4.72 billion, a PE ratio of -910.30 and a beta of 1.79. RadNet has a 1-year low of $35.16 and a 1-year high of $93.65. The company has a current ratio of 2.16, a quick ratio of 2.16 and a debt-to-equity ratio of 0.89. The firm has a fifty day simple moving average of $74.76 and a two-hundred day simple moving average of $68.64.

Insider Buying and Selling

In other news, EVP David Jeffrey Katz sold 12,300 shares of the 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 represents a 16.35 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Ranjan Jayanathan sold 38,557 shares of the firm’s stock in a transaction on Tuesday, November 19th. The shares were sold at an average price of $80.00, for a total transaction of $3,084,560.00. Following the sale, the insider now owns 192,724 shares in the company, valued at $15,417,920. The trade was a 16.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 5.12% of the stock is currently owned by insiders.

Hedge Funds Weigh In On RadNet

Hedge funds have recently made changes to their positions in the business. Covestor Ltd lifted its holdings in RadNet by 10,875.0% in the 3rd quarter. Covestor Ltd now owns 439 shares of the medical research company’s stock worth $30,000 after purchasing an additional 435 shares in the last quarter. USA Financial Formulas bought a new stake in shares of RadNet during the fourth quarter valued at approximately $30,000. Fifth Third Bancorp lifted its holdings in shares of RadNet by 84.3% in the fourth quarter. Fifth Third Bancorp now owns 667 shares of the medical research company’s stock worth $47,000 after buying an additional 305 shares in the last quarter. Highline Wealth Partners LLC bought a new position in shares of RadNet during the third quarter worth $68,000. Finally, Peterson Financial Group Inc. purchased a new position in RadNet during the third quarter valued at $90,000. Institutional investors own 77.90% of the company’s stock.

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.