RadNet, Inc. (NASDAQ:RDNT) Insider Sells $3,084,560.00 in Stock

RadNet, Inc. (NASDAQ:RDNT) insider Ranjan Jayanathan sold 38,557 shares of the firm’s stock in a transaction that occurred on Tuesday, November 19th. The shares were sold at an average price of $80.00, for a total value of $3,084,560.00. Following the transaction, the insider now owns 192,724 shares of the company’s stock, valued at $15,417,920. This represents a 16.67 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

RadNet Price Performance

RDNT stock opened at $82.04 on Friday. RadNet, Inc. has a 12 month low of $32.01 and a 12 month high of $93.65. The company has a 50-day moving average price of $71.01 and a 200 day moving average price of $64.04. The stock has a market cap of $6.07 billion, a PE ratio of -1,171.83 and a beta of 1.75. The company has a current ratio of 2.16, a quick ratio of 2.16 and a debt-to-equity ratio of 0.89.

Institutional Investors Weigh In On RadNet

A number of institutional investors and hedge funds have recently modified their holdings of RDNT. Vanguard Group Inc. grew its holdings in shares of RadNet by 8.1% in the first quarter. Vanguard Group Inc. now owns 4,600,539 shares of the medical research company’s stock worth $223,862,000 after purchasing an additional 345,822 shares during the last quarter. State Street Corp increased its holdings in RadNet by 1.3% during the third quarter. State Street Corp now owns 2,446,179 shares of the medical research company’s stock valued at $169,740,000 after buying an additional 30,244 shares during the period. Geode Capital Management LLC raised its stake in RadNet by 0.8% in the third quarter. Geode Capital Management LLC now owns 1,555,214 shares of the medical research company’s stock worth $107,936,000 after buying an additional 11,613 shares in the last quarter. Principal Financial Group Inc. lifted its holdings in RadNet by 8.5% during the third quarter. Principal Financial Group Inc. now owns 1,506,545 shares of the medical research company’s stock worth $104,539,000 after buying an additional 118,501 shares during the period. Finally, JB Capital Partners LP boosted its position in RadNet by 15.9% during the 3rd quarter. JB Capital Partners LP now owns 1,504,061 shares of the medical research company’s stock valued at $104,367,000 after acquiring an additional 206,850 shares in the last quarter. 77.90% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

RDNT has been the subject of a number of research reports. Barclays upgraded RadNet from an “equal weight” rating to an “overweight” rating and increased their target price for the company from $57.00 to $79.00 in a research report on Friday, September 6th. Jefferies Financial Group lifted their price objective on shares of RadNet from $75.00 to $80.00 and gave the stock a “buy” rating in a research note on Thursday, September 19th. Sidoti upgraded shares of RadNet to a “strong-buy” rating in a research report on Friday, October 4th. Finally, Truist Financial lifted their price target on RadNet from $70.00 to $80.00 and gave the stock a “buy” rating in a research report on Monday, September 23rd. One analyst has rated the stock with a sell rating, four have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, RadNet has a consensus rating of “Moderate Buy” and a consensus price target of $74.75.

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.