RadNet, Inc. (NASDAQ:RDNT) Given Average Recommendation of “Moderate Buy” by Analysts

Shares of RadNet, Inc. (NASDAQ:RDNT) have received an average recommendation of “Moderate Buy” from the nine analysts that are covering the stock, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, one has given a hold recommendation, five have given a buy recommendation and two have given a strong buy recommendation to the company. The average 1-year target price among brokerages that have issued ratings on the stock in the last year is $90.3333.

RDNT has been the subject of a number of recent analyst reports. Raymond James Financial reaffirmed a “strong-buy” rating on shares of RadNet in a research report on Thursday, December 18th. The Goldman Sachs Group upgraded RadNet to a “buy” rating in a research note on Tuesday, December 16th. UBS Group set a $92.00 price target on RadNet in a report on Friday, January 9th. Truist Financial set a $90.00 price objective on shares of RadNet in a report on Wednesday, December 17th. Finally, Zacks Research lowered shares of RadNet from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, November 12th.

RadNet Stock Up 3.0%

Shares of RDNT stock opened at $72.09 on Friday. RadNet has a 52-week low of $45.00 and a 52-week high of $85.84. The stock has a market cap of $5.56 billion, a price-to-earnings ratio of -424.03 and a beta of 1.49. The firm’s 50-day moving average is $71.80 and its 200-day moving average is $74.19. The company has a debt-to-equity ratio of 0.82, a quick ratio of 1.87 and a current ratio of 1.87.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the stock. Geneos Wealth Management Inc. bought a new stake in shares of RadNet during the fourth quarter worth approximately $25,000. Allworth Financial LP grew its position in shares of RadNet by 346.6% in the third quarter. Allworth Financial LP now owns 393 shares of the medical research company’s stock valued at $30,000 after purchasing an additional 305 shares during the last quarter. Danske Bank A S acquired a new position in RadNet in the 3rd quarter valued at $30,000. Farther Finance Advisors LLC increased its position in RadNet by 1,086.5% during the third quarter. Farther Finance Advisors LLC now owns 439 shares of the medical research company’s stock worth $33,000 after acquiring an additional 402 shares during the period. Finally, Jones Financial Companies Lllp raised its stake in RadNet by 62.2% in the 3rd quarter. Jones Financial Companies Lllp now owns 446 shares of the medical research company’s stock worth $34,000 after purchasing an additional 171 shares in the last quarter. 77.90% of the stock is owned by institutional investors.

RadNet Company Profile

RadNet, Inc is a leading independent provider of outpatient diagnostic imaging services in the United States. Through a nationwide network of fixed-site imaging centers and affiliated joint-venture locations, the company delivers a comprehensive suite of radiology services including MRI, CT, PET/CT, ultrasound, X-ray, mammography, bone densitometry, nuclear medicine and interventional radiology procedures. RadNet also offers teleradiology and imaging management solutions to physician practices, hospitals and healthcare systems.

Founded in 1981 and headquartered in Los Angeles, RadNet has expanded its footprint organically and through strategic acquisitions.