Insider Selling: RadNet, Inc. (NASDAQ:RDNT) Director Sells 3,000 Shares of Stock

RadNet, Inc. (NASDAQ:RDNT) Director Christine Nayoma Gordon sold 3,000 shares of the firm’s stock in a transaction dated Friday, June 7th. The shares were sold at an average price of $61.30, for a total value of $183,900.00. Following the completion of the transaction, the director now directly owns 12,379 shares in the company, valued at $758,832.70. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

Christine Nayoma Gordon also recently made the following trade(s):

• On Monday, June 10th, Christine Nayoma Gordon sold 1,500 shares of RadNet stock. The shares were sold at an average price of $61.03, for a total value of $91,545.00.

RadNet Stock Down 0.6 %

NASDAQ:RDNT traded down $0.35 during mid-day trading on Tuesday, reaching $61.13. The stock had a trading volume of 519,481 shares, compared to its average volume of 511,060. The company has a market capitalization of $4.52 billion, a price-to-earnings ratio of 203.77 and a beta of 1.76. RadNet, Inc. has a 1-year low of $25.11 and a 1-year high of $62.38. The stock’s 50 day simple moving average is $53.31 and its two-hundred day simple moving average is $43.98. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.86 and a quick ratio of 1.86.

RadNet (NASDAQ:RDNT) last posted its quarterly earnings results on Wednesday, May 8th. The medical research company reported $0.07 EPS for the quarter, topping analysts’ consensus estimates of ($0.09) by $0.16. The business had revenue of $431.70 million during the quarter, compared to the consensus estimate of $421.72 million. RadNet had a return on equity of 5.05% and a net margin of 1.28%. The company’s revenue for the quarter was up 10.5% compared to the same quarter last year. During the same period last year, the firm earned ($0.08) earnings per share. Equities analysts anticipate that RadNet, Inc. will post 0.59 EPS for the current year.

Hedge Funds Weigh In On RadNet

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Castleark Management LLC acquired a new position in RadNet in the first quarter valued at approximately $7,286,000. 8 Knots Management LLC acquired a new position in RadNet in the first quarter valued at approximately $20,273,000. Janus Henderson Group PLC boosted its stake in RadNet by 108.6% in the first quarter. Janus Henderson Group PLC now owns 64,029 shares of the medical research company’s stock valued at $3,112,000 after acquiring an additional 33,335 shares during the period. Robotti Robert boosted its stake in RadNet by 0.4% in the first quarter. Robotti Robert now owns 291,083 shares of the medical research company’s stock valued at $14,164,000 after acquiring an additional 1,070 shares during the period. Finally, Bamco Inc. NY acquired a new position in RadNet in the first quarter valued at approximately $973,000. 77.90% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the company. Truist Financial restated a “buy” rating and set a $63.00 target price (up from $55.00) on shares of RadNet in a research note on Wednesday, May 15th. Barclays assumed coverage on RadNet in a research note on Wednesday, March 6th. They set an “equal weight” rating and a $48.00 target price for the company. Raymond James raised their target price on RadNet from $50.00 to $60.00 and gave the company an “outperform” rating in a research note on Friday, May 10th. StockNews.com downgraded 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 $47.00 to $58.00 and gave the company a “buy” rating in a research note on Friday, March 22nd. One analyst has rated the stock with a sell rating, one has given a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $57.25.

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.