RadNet (NASDAQ:RDNT) Insider Alma Gregory Sorensen Sells 15,000 Shares

RadNet, Inc. (NASDAQ:RDNT) insider Alma Gregory Sorensen sold 15,000 shares of RadNet stock in a transaction dated Wednesday, March 18th. The shares were sold at an average price of $62.15, for a total transaction of $932,250.00. Following the transaction, the insider directly owned 1,223,923 shares of the company’s stock, valued at approximately $76,066,814.45. This trade represents a 1.21% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

RadNet Stock Down 2.6%

Shares of NASDAQ RDNT traded down $1.64 on Wednesday, reaching $61.99. 801,450 shares of the company’s stock traded hands, compared to its average volume of 977,895. The business’s 50 day simple moving average is $69.44 and its two-hundred day simple moving average is $73.91. RadNet, Inc. has a 12 month low of $45.00 and a 12 month high of $85.84. The company has a market cap of $4.81 billion, a price-to-earnings ratio of -247.96 and a beta of 1.49. The company has a quick ratio of 1.76, a current ratio of 1.76 and a debt-to-equity ratio of 0.79.

RadNet (NASDAQ:RDNT) last issued its quarterly earnings results on Monday, March 2nd. The medical research company reported $0.23 EPS for the quarter, topping analysts’ consensus estimates of $0.19 by $0.04. RadNet had a positive return on equity of 2.52% and a negative net margin of 0.91%.The firm had revenue of $547.71 million for the quarter, compared to analysts’ expectations of $515.67 million. During the same period in the previous year, the firm posted $0.22 EPS. The business’s revenue for the quarter was up 14.8% compared to the same quarter last year. As a group, equities research analysts forecast that RadNet, Inc. will post 0.56 EPS for the current fiscal year.

Analyst Ratings Changes

A number of brokerages recently issued reports on RDNT. UBS Group set a $92.00 price target on shares of RadNet in a research note on Friday, January 9th. Truist Financial set a $90.00 target price on shares of RadNet in a report on Wednesday, December 17th. The Goldman Sachs Group upgraded shares of RadNet to a “buy” rating in a research note on Tuesday, December 16th. B. Riley Financial increased their price target on shares of RadNet from $71.00 to $87.00 and gave the company a “buy” rating in a report on Monday, December 1st. Finally, Jefferies Financial Group reissued a “buy” rating and set a $91.00 price target on shares of RadNet in a research report on Tuesday, March 3rd. Two investment analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, RadNet currently has an average rating of “Moderate Buy” and a consensus price target of $90.43.

Hedge Funds Weigh In On RadNet

Several hedge funds and other institutional investors have recently bought and sold shares of RDNT. Smartleaf Asset Management LLC raised its holdings in shares of RadNet by 13.3% during the third quarter. Smartleaf Asset Management LLC now owns 1,361 shares of the medical research company’s stock valued at $102,000 after purchasing an additional 160 shares during the last quarter. Crossmark Global Holdings Inc. boosted its holdings in RadNet by 3.3% in the fourth quarter. Crossmark Global Holdings Inc. now owns 5,048 shares of the medical research company’s stock worth $360,000 after purchasing an additional 163 shares during the last quarter. Summit Financial LLC boosted its holdings in RadNet by 1.3% in the fourth quarter. Summit Financial LLC now owns 12,563 shares of the medical research company’s stock worth $896,000 after purchasing an additional 166 shares during the last quarter. Jones Financial Companies Lllp grew its position in RadNet by 62.2% in the 3rd quarter. Jones Financial Companies Lllp now owns 446 shares of the medical research company’s stock worth $34,000 after purchasing an additional 171 shares during the period. Finally, Guidance Capital Inc. grew its position in RadNet by 2.0% in the 3rd quarter. Guidance Capital Inc. now owns 9,089 shares of the medical research company’s stock worth $758,000 after purchasing an additional 174 shares during the period. Institutional investors own 77.90% of the company’s stock.

About RadNet

RadNet, Inc is a leading independent provider of outpatient diagnostic imaging services in the United States. Through a nationwide network of fixed-site imaging centers and affiliated joint-venture locations, the company delivers a comprehensive suite of radiology services including MRI, CT, PET/CT, ultrasound, X-ray, mammography, bone densitometry, nuclear medicine and interventional radiology procedures. RadNet also offers teleradiology and imaging management solutions to physician practices, hospitals and healthcare systems.

Founded in 1981 and headquartered in Los Angeles, RadNet has expanded its footprint organically and through strategic acquisitions.