Insider Selling: RadNet (NASDAQ:RDNT) CAO Sells $793,600.00 in Stock

RadNet, Inc. (NASDAQ:RDNT) CAO Mital Patel sold 9,920 shares of the stock in a transaction dated Tuesday, November 18th. The shares were sold at an average price of $80.00, for a total value of $793,600.00. Following the transaction, the chief accounting officer directly owned 195,218 shares in the company, valued at approximately $15,617,440. This represents a 4.84% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

Mital Patel also recently made the following trade(s):

• On Wednesday, November 19th, Mital Patel sold 15,080 shares of RadNet stock. The stock was sold at an average price of $80.05, for a total value of $1,207,154.00.
• On Monday, November 17th, Mital Patel sold 25,000 shares of RadNet stock. The stock was sold at an average price of $76.06, for a total value of $1,901,500.00.

RadNet Trading Up 4.7%

Shares of RDNT stock opened at $83.00 on Friday. RadNet, Inc. has a 12 month low of $45.00 and a 12 month high of $85.42. The company has a market cap of $6.40 billion, a PE ratio of -414.98 and a beta of 1.58. The company has a quick ratio of 2.00, a current ratio of 2.00 and a debt-to-equity ratio of 0.91. The business’s 50 day moving average is $77.29 and its two-hundred day moving average is $66.21.

RadNet (NASDAQ:RDNT) last issued its quarterly earnings data on Sunday, November 9th. The medical research company reported $0.20 earnings per share for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.03). RadNet had a positive return on equity of 2.41% and a negative net margin of 0.78%.The firm had revenue of $522.87 million during the quarter, compared to analyst estimates of $494.19 million. During the same quarter in the previous year, the firm posted $0.18 earnings per share. RadNet’s quarterly revenue was up 13.4% compared to the same quarter last year. Equities analysts predict that RadNet, Inc. will post 0.56 EPS for the current year.

Hedge Funds Weigh In On RadNet

Several institutional investors and hedge funds have recently added to or reduced their stakes in RDNT. Headlands Technologies LLC bought a new stake in shares of RadNet in the 1st quarter worth approximately $28,000. Danske Bank A S bought a new stake in shares of RadNet during the third quarter valued at approximately $30,000. Farther Finance Advisors LLC raised its stake in shares of RadNet by 1,086.5% in the third quarter. Farther Finance Advisors LLC now owns 439 shares of the medical research company’s stock valued at $33,000 after purchasing an additional 402 shares in the last quarter. Jones Financial Companies Lllp lifted its position in RadNet by 62.2% in the third 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, BNP PARIBAS ASSET MANAGEMENT Holding S.A. acquired a new stake in RadNet during the second quarter worth $35,000. 77.90% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research firms have issued reports on RDNT. Morgan Stanley upgraded shares of RadNet to an “overweight” rating in a report on Monday, August 11th. Zacks Research cut RadNet from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, November 12th. Barclays raised their target price on RadNet from $79.00 to $86.00 and gave the company an “overweight” rating in a report on Thursday, November 13th. Truist Financial lifted their price target on RadNet from $81.00 to $90.00 and gave the stock a “buy” rating in a research report on Wednesday, November 12th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of RadNet in a research report on Wednesday. Two investment analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $84.00.

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.