Insider Selling: 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 company’s stock in a transaction 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 sale, the insider now owns 192,724 shares of the company’s stock, valued at approximately $15,417,920. This trade represents a 16.67 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website.

RadNet Stock Performance

RDNT opened at $82.04 on Friday. The company has a 50 day simple moving average of $71.01 and a two-hundred day simple moving average of $64.04. The company has a debt-to-equity ratio of 0.89, a current ratio of 2.16 and a quick ratio of 2.16. The firm has a market cap of $6.07 billion, a P/E ratio of -1,171.83 and a beta of 1.75. RadNet, Inc. has a 1-year low of $32.01 and a 1-year high of $93.65.

Institutional Inflows and Outflows

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

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on RDNT shares. Sidoti raised shares of RadNet to a “strong-buy” rating in a research report on Friday, October 4th. Truist Financial upped their target price on shares of RadNet from $70.00 to $80.00 and gave the company a “buy” rating in a report on Monday, September 23rd. Jefferies Financial Group lifted their price target 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. Finally, Barclays upgraded RadNet from an “equal weight” rating to an “overweight” rating and upped their price objective for the stock from $57.00 to $79.00 in a research note on Friday, September 6th. One research analyst has rated the stock with a sell rating, four have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $74.75.

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.