Short Interest in RadNet, Inc. (NASDAQ:RDNT) Increases By 18.8%

RadNet, Inc. (NASDAQ:RDNT) saw a significant increase in short interest in January. As of January 31st, there was short interest totalling 5,760,000 shares, an increase of 18.8% from the January 15th total of 4,850,000 shares. Based on an average trading volume of 670,300 shares, the short-interest ratio is presently 8.6 days.

Insider Buying and Selling at RadNet

In other RadNet news, EVP David Jeffrey Katz sold 12,300 shares of the firm’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 owns 62,909 shares of the company’s stock, valued at approximately $5,136,519.85. This trade represents a 16.35 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Ranjan Jayanathan sold 38,557 shares of the firm’s 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 completion of the transaction, the insider now directly owns 192,724 shares of the company’s stock, valued at approximately $15,417,920. This 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 insiders.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in RDNT. USA Financial Formulas acquired a new stake in RadNet during the fourth quarter valued at $30,000. Covestor Ltd grew its position 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 during the period. Fifth Third Bancorp grew its position in RadNet by 84.3% during the fourth quarter. Fifth Third Bancorp now owns 667 shares of the medical research company’s stock valued at $47,000 after buying an additional 305 shares during the period. Highline Wealth Partners LLC acquired a new stake in RadNet during the third quarter valued at $68,000. Finally, Peterson Financial Group Inc. acquired a new stake in RadNet during the third quarter valued at $90,000. Hedge funds and other institutional investors own 77.90% of the company’s stock.

RadNet Stock Down 1.9 %

Shares of RadNet stock traded down $1.19 during trading on Friday, hitting $61.33. 379,283 shares of the company’s stock were exchanged, compared to its average volume of 918,427. The company has a current ratio of 2.16, a quick ratio of 2.16 and a debt-to-equity ratio of 0.89. The business has a 50-day simple moving average of $68.72 and a 200-day simple moving average of $68.99. RadNet has a 52-week low of $36.47 and a 52-week high of $93.65.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on RDNT. Jefferies Financial Group decreased their price target on shares of RadNet from $100.00 to $80.00 and set a “buy” rating for the company in a report on Wednesday, January 15th. Barclays decreased their price target on shares of RadNet from $85.00 to $74.00 and set an “overweight” rating for the company in a report on Wednesday, January 22nd. Finally, Truist Financial reaffirmed a “buy” rating and issued a $88.00 price target (down previously from $94.00) on shares of RadNet in a report on Wednesday, January 22nd. One equities research analyst has rated the stock with a sell rating, four have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $75.50.

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.