Insider Selling: RadNet, Inc. (NASDAQ:RDNT) Director Sells $1,271,000.00 in Stock

RadNet, Inc. (NASDAQ:RDNT) Director David L. Swartz sold 25,000 shares of the business’s stock in a transaction that occurred on Friday, March 7th. The shares were 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 of the company’s stock, valued at $8,849,566.28. This represents a 12.56 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

RadNet Stock Down 2.8 %

Shares of NASDAQ RDNT opened at $45.92 on Friday. RadNet, Inc. has a 52-week low of $42.45 and a 52-week high of $93.65. The stock has a market cap of $3.40 billion, a PE ratio of -655.91 and a beta of 1.85. The business has a fifty day moving average of $61.50 and a two-hundred day moving average of $68.14. The company has a debt-to-equity ratio of 0.89, a quick ratio of 2.16 and a current ratio of 2.16.

RadNet (NASDAQ:RDNT) last issued its quarterly earnings results on Thursday, February 27th. The medical research company reported $0.22 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.21 by $0.01. RadNet had a positive return on equity of 4.29% and a negative net margin of 0.25%. The business had revenue of $477.10 million for the quarter, compared to analyst estimates of $459.42 million. As a group, equities research analysts expect that RadNet, Inc. will post 0.56 earnings per share for the current fiscal year.

Institutional Trading of RadNet

Hedge funds have recently bought and sold shares of the stock. Norges Bank acquired a new stake in RadNet in the 4th quarter valued at $56,381,000. Raymond James Financial Inc. acquired a new stake in shares of RadNet during the 4th quarter worth about $33,090,000. T. Rowe Price Investment Management Inc. boosted its holdings in shares of RadNet by 79.3% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 913,691 shares of the medical research company’s stock worth $63,813,000 after acquiring an additional 404,241 shares during the period. Portolan Capital Management LLC grew its holdings in RadNet by 384.8% in the 3rd quarter. Portolan Capital Management LLC now owns 491,358 shares of the medical research company’s stock valued at $34,095,000 after buying an additional 390,011 shares in the last quarter. Finally, Tidal Investments LLC grew its stake in shares of RadNet by 7,219.2% in the fourth quarter. Tidal Investments LLC now owns 389,308 shares of the medical research company’s stock valued at $27,189,000 after acquiring an additional 383,989 shares in the last quarter. 77.90% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the company. Truist Financial reissued a “buy” rating and issued a $88.00 price target (down previously from $94.00) on shares of RadNet in a research note on Wednesday, January 22nd. Jefferies Financial Group dropped their target price 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. Barclays reduced their target price on RadNet from $85.00 to $74.00 and set an “overweight” rating for the company in a report on Wednesday, January 22nd. Finally, Raymond James upgraded shares of RadNet from an “outperform” rating to a “strong-buy” rating and decreased their target price for the stock from $85.00 to $65.00 in a report on Wednesday, March 5th. One analyst has rated the stock with a sell rating, three have assigned a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus price target of $76.75.

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.