Barclays Has Lowered Expectations for RadNet (NASDAQ:RDNT) Stock Price

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

A number of other analysts have also recently weighed in on the stock. Jefferies Financial Group dropped their price objective on shares of RadNet from $100.00 to $80.00 and set a “buy” rating on the stock in a report on Wednesday, January 15th. Sidoti raised RadNet to a “strong-buy” rating in a report on Friday, October 4th. Finally, Truist Financial increased their price objective on RadNet from $80.00 to $94.00 and gave the stock a “buy” rating in a report on Friday, November 29th. One research analyst has rated the stock with a sell rating, four have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $75.50.

RadNet Price Performance

Shares of RDNT opened at $64.08 on Wednesday. RadNet has a 12 month low of $35.16 and a 12 month 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. The stock has a fifty day moving average price of $73.75 and a 200 day moving average price of $68.61. The company has a market cap of $4.74 billion, a P/E ratio of -915.30 and a beta of 1.79.

Insider Buying and Selling

In other RadNet news, EVP David Jeffrey Katz sold 12,300 shares of the business’s stock in a transaction dated 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 sale, the executive vice president now directly owns 62,909 shares in the company, valued at approximately $5,136,519.85. The trade was a 16.35 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Ranjan Jayanathan sold 38,557 shares of the firm’s stock in a transaction dated Tuesday, November 19th. The shares were sold at an average price of $80.00, for a total transaction of $3,084,560.00. Following the transaction, the insider now owns 192,724 shares of the company’s stock, valued at approximately $15,417,920. This trade represents a 16.67 % decrease in their position. The disclosure for this sale can be found here. 5.12% of the stock is owned by corporate insiders.

Institutional Trading of RadNet

A number of large investors have recently added to or reduced their stakes in the business. Lisanti Capital Growth LLC bought a new position in shares of RadNet in the third quarter valued at $2,922,000. Franklin Resources Inc. raised its position in shares of RadNet by 12.0% during the third quarter. Franklin Resources Inc. now owns 387,061 shares of the medical research company’s stock worth $27,334,000 after purchasing an additional 41,381 shares during the period. Intech Investment Management LLC acquired a new stake in shares of RadNet during the second quarter worth $446,000. Pathstone Holdings LLC lifted its holdings in shares of RadNet by 58.5% during the third quarter. Pathstone Holdings LLC now owns 27,503 shares of the medical research company’s stock valued at $1,908,000 after purchasing an additional 10,151 shares during the last quarter. Finally, JPMorgan Chase & Co. boosted its position in shares of RadNet by 1.4% in the 3rd quarter. JPMorgan Chase & Co. now owns 132,997 shares of the medical research company’s stock valued at $9,229,000 after purchasing an additional 1,838 shares during the period. 77.90% of the stock is currently owned by institutional investors.

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.