Barclays Increases RadNet (NASDAQ:RDNT) Price Target to $86.00

RadNet (NASDAQ:RDNT) had its price target raised by equities research analysts at Barclays from $79.00 to $86.00 in a report released on Thursday,Benzinga reports. The firm presently has an “overweight” rating on the medical research company’s stock. Barclays‘s target price indicates a potential upside of 16.75% from the company’s previous close.

Several other research firms have also commented on RDNT. Raymond James Financial reissued a “strong-buy” rating and set a $75.00 price target (up from $66.00) on shares of RadNet in a research report on Wednesday, August 13th. Wall Street Zen raised shares of RadNet from a “sell” rating to a “hold” rating in a research report on Saturday, August 16th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of RadNet in a report on Wednesday, October 8th. Zacks Research upgraded RadNet from a “hold” rating to a “strong-buy” rating in a report on Tuesday, October 14th. Finally, Truist Financial boosted their target price on RadNet from $81.00 to $90.00 and gave the stock a “buy” rating in a research note on Wednesday. Three research analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Buy” and an average target price of $80.00.

RadNet Stock Down 1.1%

NASDAQ RDNT traded down $0.79 during trading on Thursday, reaching $73.66. 731,654 shares of the company’s stock traded hands, compared to its average volume of 790,385. RadNet has a 12-month low of $45.00 and a 12-month high of $85.42. The company has a debt-to-equity ratio of 0.91, a current ratio of 2.00 and a quick ratio of 2.00. The firm has a market cap of $5.67 billion, a price-to-earnings ratio of -368.30 and a beta of 1.58. The company’s 50 day simple moving average is $76.50 and its two-hundred day simple moving average is $65.04.

RadNet (NASDAQ:RDNT) last announced its quarterly earnings results on Monday, November 10th. The medical research company reported $0.20 earnings per share for the quarter, missing the consensus estimate of $0.23 by ($0.03). The business had revenue of $522.87 million during the quarter, compared to analysts’ expectations of $494.19 million. RadNet had a positive return on equity of 2.41% and a negative net margin of 0.78%.RadNet’s revenue for the quarter was up 13.4% on a year-over-year basis. During the same period in the previous year, the company posted $0.18 EPS. RadNet has set its FY 2025 guidance at EPS. As a group, sell-side analysts forecast that RadNet will post 0.56 EPS for the current fiscal year.

Insider Buying and Selling at RadNet

In other news, insider Ranjan Jayanathan sold 65,598 shares of the company’s stock in a transaction on Tuesday, August 19th. The shares were sold at an average price of $67.50, for a total value of $4,427,865.00. Following the sale, the insider directly owned 138,198 shares of the company’s stock, valued at $9,328,365. This represents a 32.19% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Mark Stolper sold 35,000 shares of the firm’s stock in a transaction on Tuesday, September 16th. The stock was sold at an average price of $73.89, for a total transaction of $2,586,150.00. Following the transaction, the executive vice president directly owned 68,012 shares of the company’s stock, valued at approximately $5,025,406.68. This trade represents a 33.98% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 118,098 shares of company stock valued at $8,269,445. 5.60% of the stock is owned by corporate insiders.

Institutional Trading of RadNet

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Envestnet Asset Management Inc. increased its holdings in shares of RadNet by 50.3% during the 1st quarter. Envestnet Asset Management Inc. now owns 137,870 shares of the medical research company’s stock valued at $6,855,000 after purchasing an additional 46,169 shares in the last quarter. Praxis Investment Management Inc. purchased a new stake in RadNet during the second quarter worth $225,000. Fulton Bank N.A. acquired a new stake in RadNet during the second quarter valued at $389,000. Wellington Shields & Co. LLC purchased a new position in RadNet in the first quarter valued at $393,000. Finally, Emerald Advisers LLC raised its position in shares of RadNet by 4.2% in the second quarter. Emerald Advisers LLC now owns 672,356 shares of the medical research company’s stock worth $38,264,000 after acquiring an additional 27,134 shares during the period. 77.90% of the stock is 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.