Barclays Cuts RadNet (NASDAQ:RDNT) Price Target to $74.00

RadNet (NASDAQ:RDNT) had its price objective decreased by Barclays from $85.00 to $74.00 in a research note issued to investors on Wednesday morning,Benzinga reports. Barclays currently has an overweight rating on the medical research company’s stock.

RDNT has been the topic of several other reports. Sidoti raised RadNet to a “strong-buy” rating in a research report on Friday, October 4th. Truist Financial lifted their price objective on RadNet from $80.00 to $94.00 and gave the company a “buy” rating in a research note on Friday, November 29th. Finally, Jefferies Financial Group decreased their target price on 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 given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $75.50.

RadNet Stock Performance

NASDAQ:RDNT opened at $64.08 on Wednesday. The company has a market cap of $4.74 billion, a P/E ratio of -915.30 and a beta of 1.79. The firm’s 50 day moving average is $73.75 and its two-hundred day moving average is $68.61. RadNet has a fifty-two week low of $35.16 and a fifty-two week high of $93.65. The company has a quick ratio of 2.16, a current ratio of 2.16 and a debt-to-equity ratio of 0.89.

Insider Activity

In other news, EVP David Jeffrey Katz sold 12,300 shares of the company’s 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 transaction, the executive vice president now directly owns 62,909 shares in the company, valued at approximately $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 Securities & Exchange Commission, which can be accessed through this link. Also, insider Ranjan Jayanathan sold 38,557 shares of RadNet 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 sale, the insider now directly owns 192,724 shares in the company, valued at $15,417,920. This trade represents a 16.67 % decrease in their position. The disclosure for this sale can be found here. Insiders own 5.12% of the company’s stock.

Institutional Investors Weigh In On RadNet

A number of hedge funds have recently bought and sold shares of RDNT. Covestor Ltd raised its stake in RadNet by 10,875.0% during the third quarter. Covestor Ltd now owns 439 shares of the medical research company’s stock valued at $30,000 after buying an additional 435 shares in the last quarter. USA Financial Formulas acquired a new stake in shares of RadNet during the 4th quarter valued at approximately $30,000. Fifth Third Bancorp boosted its holdings in 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 purchasing an additional 305 shares during the period. Highline Wealth Partners LLC bought a new stake in RadNet during the third quarter valued at $68,000. Finally, Peterson Financial Group Inc. acquired a new stake in shares of RadNet during the third quarter worth $90,000. Institutional investors and hedge funds 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.