Insider Selling: RadNet, Inc. (NASDAQ:RDNT) Director Sells $428,228.25 in Stock

RadNet, Inc. (NASDAQ:RDNTGet Free Report) Director Gregory E. Spurlock sold 7,167 shares of the stock in a transaction that occurred on Monday, June 17th. The stock was sold at an average price of $59.75, for a total value of $428,228.25. Following the sale, the director now directly owns 9,758 shares of the company’s stock, valued at $583,040.50. The transaction was disclosed in a filing with the SEC, which is accessible through this link.

RadNet Stock Down 1.8 %

RadNet stock opened at $57.28 on Friday. The company has a current ratio of 1.86, a quick ratio of 1.86 and a debt-to-equity ratio of 0.76. RadNet, Inc. has a 1-year low of $25.11 and a 1-year high of $64.06. The company has a fifty day simple moving average of $54.99 and a 200 day simple moving average of $45.27. The company has a market cap of $4.23 billion, a P/E ratio of 190.93 and a beta of 1.76.

RadNet (NASDAQ:RDNTGet Free Report) last issued its quarterly earnings results on Wednesday, May 8th. The medical research company reported $0.07 EPS for the quarter, beating the consensus estimate of ($0.09) by $0.16. The firm had revenue of $431.70 million during the quarter, compared to analysts’ expectations of $421.72 million. RadNet had a return on equity of 5.05% and a net margin of 1.28%. The business’s quarterly revenue was up 10.5% compared to the same quarter last year. During the same period in the prior year, the firm posted ($0.08) earnings per share. Research analysts anticipate that RadNet, Inc. will post 0.59 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on RDNT shares. Raymond James upped their price target on shares of RadNet from $50.00 to $60.00 and gave the company an “outperform” rating in a report on Friday, May 10th. Barclays started coverage on shares of RadNet in a research note on Wednesday, March 6th. They issued an “equal weight” rating and a $48.00 target price for the company. StockNews.com downgraded RadNet from a “hold” rating to a “sell” rating in a research note on Wednesday, May 15th. Truist Financial restated a “buy” rating and issued a $63.00 price target (up from $55.00) on shares of RadNet in a report on Wednesday, May 15th. Finally, Jefferies Financial Group increased their price objective on RadNet from $47.00 to $58.00 and gave the stock a “buy” rating in a report on Friday, March 22nd. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $57.25.

Get Our Latest Stock Analysis on RadNet

Institutional Trading of RadNet

A number of large investors have recently added to or reduced their stakes in the company. SG Americas Securities LLC raised its stake in RadNet by 8.7% in the 1st quarter. SG Americas Securities LLC now owns 3,637 shares of the medical research company’s stock valued at $177,000 after acquiring an additional 291 shares during the period. Natixis Advisors L.P. raised its position in shares of RadNet by 5.6% in the fourth quarter. Natixis Advisors L.P. now owns 11,789 shares of the medical research company’s stock valued at $409,000 after purchasing an additional 627 shares during the period. Mutual of America Capital Management LLC lifted its stake in shares of RadNet by 6.2% during the 1st quarter. Mutual of America Capital Management LLC now owns 11,232 shares of the medical research company’s stock worth $547,000 after buying an additional 656 shares during the last quarter. Assetmark Inc. boosted its holdings in shares of RadNet by 35.2% during the 4th quarter. Assetmark Inc. now owns 3,183 shares of the medical research company’s stock worth $111,000 after buying an additional 829 shares during the period. Finally, ProShare Advisors LLC grew its stake in RadNet by 8.3% in the 1st quarter. ProShare Advisors LLC now owns 12,252 shares of the medical research company’s stock valued at $596,000 after buying an additional 940 shares during the last quarter. Institutional investors and hedge funds own 77.90% of the company’s stock.

RadNet Company Profile

(Get Free Report)

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.

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Insider Buying and Selling by Quarter for RadNet (NASDAQ:RDNT)

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