Michael N. Murdock Sells 15,000 Shares of RadNet, Inc. (NASDAQ:RDNT) Stock

RadNet, Inc. (NASDAQ:RDNT) EVP Michael N. Murdock sold 15,000 shares of the business’s stock in a transaction dated 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 in the company, valued at $3,022,480.32. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website.

RadNet Stock Up 1.5 %

Shares of NASDAQ:RDNT traded up $0.94 during trading on Thursday, hitting $64.08. The company’s stock had a trading volume of 306,978 shares, compared to its average volume of 547,869. The company has a market capitalization of $4.73 billion, a PE ratio of 210.47 and a beta of 1.75. The business has a 50 day moving average price of $60.24 and a two-hundred day moving average price of $52.79. RadNet, Inc. has a fifty-two week low of $25.11 and a fifty-two week high of $66.04. The company has a debt-to-equity ratio of 0.76, a quick ratio of 1.86 and a current ratio of 1.86.

RadNet (NASDAQ:RDNT) last issued 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). RadNet had a net margin of 1.28% and a return on equity of 5.05%. The firm had revenue of $459.70 million during the quarter, compared to analyst estimates of $438.53 million. During the same period last year, the business earned $0.24 EPS. The firm’s revenue was up 13.9% compared to the same quarter last year. As a group, research analysts expect that RadNet, Inc. will post 0.58 EPS for the current fiscal year.

Analyst Ratings Changes

Several equities analysts have recently commented on the stock. Truist Financial upped their price objective on shares of RadNet from $63.00 to $70.00 and gave the stock a “buy” rating in a report on Monday, July 15th. Raymond James upped their price target on RadNet from $50.00 to $60.00 and gave the stock an “outperform” rating in a research note on Friday, May 10th. Barclays lifted their price objective on RadNet from $51.00 to $57.00 and gave the company an “equal weight” rating in a research note on Thursday, August 8th. StockNews.com lowered RadNet from a “hold” rating to a “sell” rating in a research note on Wednesday, May 15th. Finally, Jefferies Financial Group raised their target price on RadNet from $61.00 to $75.00 and gave the company a “buy” rating in a report on Thursday, July 11th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and three have assigned a buy rating to the company. According to MarketBeat, RadNet has a consensus rating of “Hold” and an average target price of $65.50.

Institutional Investors Weigh In On RadNet

A number of hedge funds and other institutional investors have recently modified their holdings of RDNT. Creative Planning acquired a new stake in RadNet in the second quarter valued at $451,000. Algert Global LLC purchased a new position in shares of RadNet in the 2nd quarter valued at about $372,000. Susquehanna Fundamental Investments LLC purchased a new position in shares of RadNet in the 2nd quarter valued at about $247,000. Mackenzie Financial Corp acquired a new stake in shares of RadNet during the 2nd quarter worth about $218,000. Finally, The Manufacturers Life Insurance Company lifted its stake in RadNet by 12.2% during the second quarter. The Manufacturers Life Insurance Company now owns 37,473 shares of the medical research company’s stock worth $2,208,000 after purchasing an additional 4,074 shares during the last quarter. 77.90% of the stock is currently owned by institutional investors and hedge funds.

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.