Shares of RadNet, Inc. (NASDAQ:RDNT - Get Free Report) have received an average rating of "Strong Buy" from the six ratings firms that are currently covering the firm, Marketbeat Ratings reports. Three investment analysts have rated the stock with a buy rating and three have assigned a strong buy rating to the company. The average 12 month price objective among brokers that have issued a report on the stock in the last year is $69.60.
A number of research firms recently weighed in on RDNT. Truist Financial set a $74.00 target price on shares of RadNet in a research report on Thursday. Wall Street Zen cut shares of RadNet from a "hold" rating to a "sell" rating in a research note on Sunday, June 29th. Barclays cut their price target on shares of RadNet from $74.00 to $60.00 and set an "overweight" rating for the company in a research note on Monday, March 24th. Finally, B. Riley assumed coverage on shares of RadNet in a research note on Friday, June 13th. They issued a "buy" rating and a $69.00 price target for the company.
Read Our Latest Stock Analysis on RDNT
Insider Transactions at RadNet
In other RadNet news, EVP Alma Gregory Sorensen sold 55,000 shares of RadNet stock in a transaction dated Friday, May 23rd. The shares were sold at an average price of $56.48, for a total value of $3,106,400.00. Following the completion of the sale, the executive vice president owned 1,160,509 shares in the company, valued at $65,545,548.32. The trade was a 4.52% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Norman R. Hames sold 2,911 shares of RadNet stock in a transaction dated Thursday, May 15th. The stock was sold at an average price of $60.00, for a total transaction of $174,660.00. Following the completion of the sale, the chief operating officer owned 24,889 shares of the company's stock, valued at $1,493,340. This trade represents a 10.47% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 63,447 shares of company stock valued at $3,613,220. 5.60% of the stock is currently owned by corporate insiders.
Institutional Trading of RadNet
Several hedge funds and other institutional investors have recently bought and sold shares of the business. Fulton Bank N.A. acquired a new stake in RadNet in the 2nd quarter worth about $389,000. Family Legacy Financial Solutions LLC bought a new stake in shares of RadNet during the 2nd quarter worth approximately $85,000. Wealth Enhancement Advisory Services LLC boosted its position in shares of RadNet by 78.2% during the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 12,378 shares of the medical research company's stock worth $696,000 after acquiring an additional 5,433 shares in the last quarter. Inspire Investing LLC boosted its position in shares of RadNet by 20.0% during the 1st quarter. Inspire Investing LLC now owns 6,893 shares of the medical research company's stock worth $343,000 after acquiring an additional 1,149 shares in the last quarter. Finally, Rhumbline Advisers increased its stake in RadNet by 1.1% in the first quarter. Rhumbline Advisers now owns 175,776 shares of the medical research company's stock valued at $8,740,000 after acquiring an additional 1,895 shares during the last quarter. Institutional investors and hedge funds own 77.90% of the company's stock.
RadNet Stock Down 3.5%
RadNet stock traded down $2.02 during mid-day trading on Thursday, reaching $55.48. The company's stock had a trading volume of 421,167 shares, compared to its average volume of 683,687. The company has a market capitalization of $4.16 billion, a price-to-earnings ratio of -129.02 and a beta of 1.41. RadNet has a 12 month low of $45.00 and a 12 month high of $93.65. The business's 50 day simple moving average is $57.05 and its 200 day simple moving average is $57.34. The company has a debt-to-equity ratio of 0.87, a quick ratio of 2.01 and a current ratio of 2.01.
About RadNet
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Get Free ReportRadNet, 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.
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