Truist Financial Lowers RadNet (NASDAQ:RDNT) Price Target to $74.00

RadNet (NASDAQ:RDNT) had its price objective decreased by equities research analysts at Truist Financial from $88.00 to $74.00 in a note issued to investors on Friday,Benzinga reports. The firm currently has a “buy” rating on the medical research company’s stock. Truist Financial’s target price indicates a potential upside of 39.62% from the company’s previous close.

RDNT has been the topic of several other research reports. StockNews.com raised shares of RadNet to a “sell” rating in a research report on Wednesday, March 19th. Barclays decreased their target price on shares of RadNet from $74.00 to $60.00 and set an “overweight” rating on the stock in a report on Monday, March 24th. Raymond James upgraded shares of RadNet from an “outperform” rating to a “strong-buy” rating and cut their price target for the stock from $85.00 to $65.00 in a report on Wednesday, March 5th. Finally, Jefferies Financial Group reduced their price target on shares of RadNet from $100.00 to $80.00 and set a “buy” rating on the stock in a research report on Wednesday, January 15th. One analyst has rated the stock with a sell rating, three have given a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus target price of $69.75.

RadNet Trading Down 1.1 %

RDNT opened at $53.00 on Friday. The firm has a market capitalization of $3.92 billion, a price-to-earnings ratio of -757.03 and a beta of 1.59. The company’s 50 day simple moving average is $54.49 and its two-hundred day simple moving average is $65.79. RadNet has a 1-year low of $45.00 and a 1-year high of $93.65. The company has a debt-to-equity ratio of 0.89, a current ratio of 2.16 and a quick ratio of 2.16.

RadNet (NASDAQ:RDNT) last announced its quarterly earnings data on Thursday, February 27th. The medical research company reported $0.22 EPS for the quarter, topping analysts’ consensus estimates of $0.21 by $0.01. The firm had revenue of $477.10 million for the quarter, compared to the consensus estimate of $459.42 million. RadNet had a positive return on equity of 4.29% and a negative net margin of 0.25%. Analysts expect that RadNet will post 0.56 EPS for the current fiscal year.

Insider Activity

In related news, COO Norman R. Hames sold 5,000 shares of RadNet stock in a transaction that occurred on Monday, March 17th. The shares were sold at an average price of $49.79, for a total value of $248,950.00. Following the completion of the sale, the chief operating officer now owns 261,959 shares in the company, valued at approximately $13,042,938.61. This trade represents a 1.87 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director David L. Swartz sold 25,000 shares of the company’s stock in a transaction on Friday, March 7th. The stock was sold at an average price of $50.84, for a total value of $1,271,000.00. Following the transaction, the director now owns 174,067 shares in the company, valued at $8,849,566.28. This trade represents a 12.56 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 38,000 shares of company stock valued at $1,926,730. Company insiders own 5.12% of the company’s stock.

Institutional Trading of RadNet

Several hedge funds have recently made changes to their positions in RDNT. E. Ohman J or Asset Management AB grew its holdings in shares of RadNet by 17.1% in the first quarter. E. Ohman J or Asset Management AB now owns 36,258 shares of the medical research company’s stock valued at $1,803,000 after purchasing an additional 5,300 shares in the last quarter. Rhumbline Advisers grew its stake in shares of RadNet by 1.1% in the first quarter. Rhumbline Advisers now owns 175,776 shares of the medical research company’s stock worth $8,740,000 after acquiring an additional 1,895 shares in the last quarter. GAMMA Investing LLC grew its stake in shares of RadNet by 5,981.8% in the first quarter. GAMMA Investing LLC now owns 81,740 shares of the medical research company’s stock worth $4,064,000 after acquiring an additional 80,396 shares in the last quarter. Virtue Capital Management LLC increased its position in shares of RadNet by 6.4% during the fourth quarter. Virtue Capital Management LLC now owns 20,628 shares of the medical research company’s stock worth $1,441,000 after acquiring an additional 1,239 shares during the period. Finally, Squarepoint Ops LLC acquired a new stake in shares of RadNet in the fourth quarter valued at $3,407,000. Institutional investors and hedge funds own 77.90% of the company’s stock.

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.