RadNet, Inc. (NASDAQ:RDNT) Director David L. Swartz Sells 25,000 Shares

RadNet, Inc. (NASDAQ:RDNT) Director David L. Swartz sold 25,000 shares of the firm’s stock in a transaction that occurred 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 transaction, the director now directly owns 174,067 shares in the company, valued at approximately $8,849,566.28. This trade represents a 12.56 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link.

RadNet Trading Up 2.5 %

Shares of RadNet stock traded up $1.18 on Tuesday, reaching $49.24. The company had a trading volume of 1,158,100 shares, compared to its average volume of 891,287. The firm’s 50 day moving average price is $62.44 and its two-hundred day moving average price is $68.44. The firm has a market cap of $3.65 billion, a PE ratio of -703.33 and a beta of 1.85. RadNet, Inc. has a 52-week low of $42.45 and a 52-week high of $93.65. The company has a debt-to-equity ratio of 0.89, a quick ratio of 2.16 and a current ratio of 2.16.

RadNet (NASDAQ:RDNT) last released its quarterly earnings results on Thursday, February 27th. The medical research company reported $0.22 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 business had revenue of $477.10 million for the quarter, compared to the consensus estimate of $459.42 million. Sell-side analysts predict that RadNet, Inc. will post 0.56 earnings per share for the current fiscal year.

Institutional Investors Weigh In On RadNet

Several large investors have recently added to or reduced their stakes in RDNT. Norges Bank acquired a new position in RadNet during the 4th quarter worth approximately $56,381,000. Raymond James Financial Inc. acquired a new position in RadNet during the 4th quarter worth approximately $33,090,000. T. Rowe Price Investment Management Inc. grew its holdings in RadNet by 79.3% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 913,691 shares of the medical research company’s stock worth $63,813,000 after acquiring an additional 404,241 shares in the last quarter. Portolan Capital Management LLC grew its holdings in RadNet by 384.8% during the 3rd quarter. Portolan Capital Management LLC now owns 491,358 shares of the medical research company’s stock worth $34,095,000 after acquiring an additional 390,011 shares in the last quarter. Finally, Tidal Investments LLC grew its holdings in RadNet by 7,219.2% during the 4th quarter. Tidal Investments LLC now owns 389,308 shares of the medical research company’s stock worth $27,189,000 after acquiring an additional 383,989 shares in the last quarter. 77.90% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the stock. Truist Financial reiterated a “buy” rating and set a $88.00 price objective (down from $94.00) on shares of RadNet in a research note on Wednesday, January 22nd. Barclays lowered 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. Raymond James raised shares of RadNet from an “outperform” rating to a “strong-buy” rating and decreased their price target for the stock from $85.00 to $65.00 in a report on Wednesday, March 5th. Finally, Jefferies Financial Group decreased their price target on shares of RadNet from $100.00 to $80.00 and set a “buy” rating for the company in a report on Wednesday, January 15th. One research analyst has rated the stock with a sell rating, three have given a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Buy” and an average target price of $76.75.

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.