David Swartz Sells 2,699 Shares of RadNet (NASDAQ:RDNT) Stock

RadNet, Inc. (NASDAQ:RDNT) Director David Swartz sold 2,699 shares of the business’s stock in a transaction dated Thursday, June 18th. The stock was sold at an average price of $53.89, for a total transaction of $145,449.11. Following the sale, the director directly owned 177,013 shares in the company, valued at approximately $9,539,230.57. This represents a 1.50% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

RadNet Trading Up 0.8%

Shares of RadNet stock opened at $56.20 on Wednesday. RadNet, Inc. has a 12-month low of $50.76 and a 12-month high of $85.84. The stock has a market cap of $4.42 billion, a PE ratio of -312.20 and a beta of 1.41. The company has a 50-day moving average of $55.83 and a two-hundred day moving average of $64.06. The company has a current ratio of 1.17, a quick ratio of 1.17 and a debt-to-equity ratio of 0.79.

RadNet (NASDAQ:RDNT) last posted its earnings results on Monday, May 11th. The medical research company reported ($0.28) EPS for the quarter, missing analysts’ consensus estimates of ($0.14) by ($0.14). The firm had revenue of $575.63 million for the quarter, compared to analysts’ expectations of $557.93 million. RadNet had a positive return on equity of 2.77% and a negative net margin of 0.66%.The firm’s revenue for the quarter was up 22.1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($0.50) earnings per share. On average, research analysts anticipate that RadNet, Inc. will post 0.54 EPS for the current fiscal year.

Analysts Set New Price Targets

RDNT has been the subject of several recent research reports. Weiss Ratings downgraded shares of RadNet from a “sell (d)” rating to a “sell (d-)” rating in a report on Tuesday, May 12th. Jefferies Financial Group reaffirmed a “buy” rating and issued a $91.00 price target on shares of RadNet in a report on Tuesday, March 3rd. Finally, Barclays lowered their price target on shares of RadNet from $70.00 to $65.00 and set an “overweight” rating on the stock in a research report on Wednesday, May 20th. Two equities research analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, RadNet has a consensus rating of “Moderate Buy” and an average price target of $87.43.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in RDNT. Vanguard Group Inc. boosted its stake in shares of RadNet by 1.3% during the 3rd quarter. Vanguard Group Inc. now owns 7,483,869 shares of the medical research company’s stock worth $570,346,000 after purchasing an additional 95,015 shares during the last quarter. RTW Investments LP grew its holdings in shares of RadNet by 39.9% during the fourth quarter. RTW Investments LP now owns 3,938,500 shares of the medical research company’s stock worth $281,012,000 after buying an additional 1,122,956 shares in the last quarter. Beck Mack & Oliver LLC raised its position in shares of RadNet by 0.4% in the third quarter. Beck Mack & Oliver LLC now owns 3,276,774 shares of the medical research company’s stock valued at $249,723,000 after buying an additional 13,633 shares during the last quarter. Price T Rowe Associates Inc. MD raised its position in shares of RadNet by 30.3% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 2,699,082 shares of the medical research company’s stock valued at $192,581,000 after buying an additional 627,936 shares during the last quarter. Finally, State Street Corp lifted its stake in shares of RadNet by 1.6% during the fourth quarter. State Street Corp now owns 2,579,073 shares of the medical research company’s stock valued at $184,017,000 after buying an additional 41,356 shares during the period. Institutional investors and hedge funds 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.