Insider Selling: RadNet, Inc. (NASDAQ:RDNT) Director Sells 25,000 Shares of Stock

RadNet, Inc. (NASDAQ:RDNT) Director David L. Swartz sold 25,000 shares of the firm’s stock in a transaction on Friday, March 7th. The stock was sold at an average price of $50.84, for a total transaction of $1,271,000.00. Following the completion of the sale, the director now owns 174,067 shares of the company’s stock, valued at $8,849,566.28. This trade represents a 12.56 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

RadNet Trading Up 2.5 %

RDNT traded up $1.18 during trading on Tuesday, hitting $49.24. 1,158,100 shares of the company’s stock were exchanged, compared to its average volume of 891,287. The company has a current ratio of 2.16, a quick ratio of 2.16 and a debt-to-equity ratio of 0.89. RadNet, Inc. has a 1 year low of $42.45 and a 1 year high of $93.65. The stock has a 50 day moving average price of $62.44 and a 200 day moving average price of $68.44. The firm has a market cap of $3.65 billion, a P/E ratio of -703.33 and a beta of 1.85.

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

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in RDNT. Covestor Ltd lifted its position in shares of RadNet by 10,875.0% during the third quarter. Covestor Ltd now owns 439 shares of the medical research company’s stock worth $30,000 after purchasing an additional 435 shares in the last quarter. Crossmark Global Holdings Inc. lifted its position in shares of RadNet by 6.3% during the third quarter. Crossmark Global Holdings Inc. now owns 4,958 shares of the medical research company’s stock worth $344,000 after purchasing an additional 296 shares in the last quarter. Chartwell Investment Partners LLC lifted its position in shares of RadNet by 0.8% during the third quarter. Chartwell Investment Partners LLC now owns 24,883 shares of the medical research company’s stock worth $1,726,000 after purchasing an additional 193 shares in the last quarter. Lisanti Capital Growth LLC acquired a new position in shares of RadNet during the third quarter worth $2,922,000. Finally, Natixis Advisors LLC lifted its position in shares of RadNet by 11.4% during the third quarter. Natixis Advisors LLC now owns 22,530 shares of the medical research company’s stock worth $1,563,000 after purchasing an additional 2,305 shares in the last quarter. 77.90% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on RDNT shares. Barclays reduced their target price on shares of RadNet from $85.00 to $74.00 and set an “overweight” rating for the company in a research note on Wednesday, January 22nd. Jefferies Financial Group reduced their price objective on shares of RadNet from $100.00 to $80.00 and set a “buy” rating for the company in a research note on Wednesday, January 15th. Truist Financial reiterated a “buy” rating and issued a $88.00 price objective (down previously from $94.00) on shares of RadNet in a research note on Wednesday, January 22nd. Finally, Raymond James upgraded shares of RadNet from an “outperform” rating to a “strong-buy” rating and reduced their price objective for the company from $85.00 to $65.00 in a research note on Wednesday, March 5th. One equities research analyst has rated the stock with a sell rating, three have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, RadNet presently has a consensus rating of “Buy” and a consensus price target of $76.75.

About RadNet

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.