RadNet (NASDAQ:RDNT) Trading Down 3.3%

Shares of RadNet, Inc. (NASDAQ:RDNT) fell 3.3% on Monday . The company traded as low as $58.88 and last traded at $60.33. 187,569 shares traded hands during trading, a decline of 65% from the average session volume of 542,015 shares. The stock had previously closed at $62.41.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the company. Jefferies Financial Group upped their price target on RadNet from $61.00 to $75.00 and gave the company a “buy” rating in a research note on Thursday, July 11th. Truist Financial upped their target price on shares of RadNet from $63.00 to $70.00 and gave the company a “buy” rating in a research report on Monday, July 15th. StockNews.com cut shares of RadNet from a “hold” rating to a “sell” rating in a research report on Wednesday, May 15th. Finally, Barclays upgraded shares of RadNet from an “equal weight” rating to an “overweight” rating and increased their price objective for the company from $57.00 to $79.00 in a report on Friday, September 6th. One equities research analyst has rated the stock with a sell rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $71.00.

RadNet Stock Up 3.2 %

The business’s 50-day moving average is $61.74 and its two-hundred day moving average is $55.46. The firm has a market capitalization of $4.60 billion, a price-to-earnings ratio of 207.67 and a beta of 1.74. The company has a debt-to-equity ratio of 0.92, a quick ratio of 2.12 and a current ratio of 2.12.

RadNet (NASDAQ:RDNT) last posted its earnings results on Wednesday, August 7th. The medical research company reported $0.16 earnings per share for the quarter, missing the consensus estimate of $0.17 by ($0.01). The firm had revenue of $459.70 million during the quarter, compared to analyst estimates of $438.53 million. RadNet had a return on equity of 4.30% and a net margin of 0.58%. The company’s revenue for the quarter was up 13.9% on a year-over-year basis. During the same quarter last year, the business posted $0.24 earnings per share. On average, equities analysts anticipate that RadNet, Inc. will post 0.58 earnings per share for the current year.

Insiders Place Their Bets

In other RadNet news, EVP Michael N. Murdock sold 15,000 shares of the stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $62.78, for a total value of $941,700.00. Following the completion of the sale, the executive vice president now directly owns 48,144 shares in the company, valued at $3,022,480.32. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, EVP Michael N. Murdock sold 15,000 shares of the stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $62.78, for a total transaction of $941,700.00. Following the completion of the sale, the executive vice president now owns 48,144 shares of the company’s stock, valued at $3,022,480.32. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Gregory E. Spurlock sold 7,167 shares of the company’s stock in a transaction on Monday, June 17th. The stock was sold at an average price of $59.75, for a total transaction of $428,228.25. Following the completion of the transaction, the director now directly owns 9,758 shares of the company’s stock, valued at $583,040.50. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 26,167 shares of company stock worth $1,601,008. Corporate insiders own 5.12% of the company’s stock.

Hedge Funds Weigh In On RadNet

Several hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. increased its holdings in RadNet by 0.8% during the fourth quarter. Vanguard Group Inc. now owns 4,254,717 shares of the medical research company’s stock worth $147,937,000 after buying an additional 32,483 shares during the last quarter. RTW Investments LP bought a new stake in shares of RadNet in the 4th quarter valued at about $23,073,000. UniSuper Management Pty Ltd acquired a new stake in RadNet in the 1st quarter valued at about $683,000. Janus Henderson Group PLC grew its holdings in RadNet by 108.6% during the first quarter. Janus Henderson Group PLC now owns 64,029 shares of the medical research company’s stock worth $3,112,000 after purchasing an additional 33,335 shares during the period. Finally, Russell Investments Group Ltd. increased its position in RadNet by 103.4% during the first quarter. Russell Investments Group Ltd. now owns 249,898 shares of the medical research company’s stock worth $12,160,000 after buying an additional 127,039 shares during the last quarter. 77.90% of the stock is owned by institutional investors.

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.