RadNet (NASDAQ:RDNT) CAO Mital Patel Sells 15,080 Shares of Stock

RadNet, Inc. (NASDAQ:RDNT) CAO Mital Patel sold 15,080 shares of the stock in a transaction that occurred on Wednesday, November 19th. The shares were sold at an average price of $80.05, for a total transaction of $1,207,154.00. Following the sale, the chief accounting officer directly owned 180,138 shares of the company’s stock, valued at approximately $14,420,046.90. This represents a 7.72% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

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

• On Tuesday, November 18th, Mital Patel sold 9,920 shares of RadNet stock. The shares were sold at an average price of $80.00, for a total value of $793,600.00.
• On Monday, November 17th, Mital Patel sold 25,000 shares of RadNet stock. The shares were sold at an average price of $76.06, for a total value of $1,901,500.00.

RadNet Trading Up 1.4%

Shares of RadNet stock traded up $1.13 on Wednesday, reaching $80.29. 742,440 shares of the company were exchanged, compared to its average volume of 793,657. RadNet, Inc. has a fifty-two week low of $45.00 and a fifty-two week high of $85.42. The firm has a market capitalization of $6.19 billion, a price-to-earnings ratio of -401.43 and a beta of 1.58. The company has a current ratio of 2.00, a quick ratio of 2.00 and a debt-to-equity ratio of 0.91. The stock has a fifty day moving average price of $76.82 and a 200-day moving average price of $65.81.

RadNet (NASDAQ:RDNT) last issued its quarterly earnings results 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). The company had revenue of $522.87 million during the quarter, compared to analysts’ expectations of $494.19 million. RadNet had a positive return on equity of 2.41% and a negative net margin of 0.78%.The company’s revenue for the quarter was up 13.4% compared to the same quarter last year. During the same period in the prior year, the business posted $0.18 EPS. On average, analysts expect that RadNet, Inc. will post 0.56 EPS for the current year.

Institutional Investors Weigh In On RadNet

Institutional investors have recently made changes to their positions in the company. Headlands Technologies LLC bought a new position in RadNet during the first quarter valued at approximately $28,000. Danske Bank A S acquired a new position in shares of RadNet during the 3rd quarter worth $30,000. Farther Finance Advisors LLC increased its stake in shares of RadNet by 1,086.5% during the 3rd quarter. Farther Finance Advisors LLC now owns 439 shares of the medical research company’s stock worth $33,000 after purchasing an additional 402 shares during the last quarter. Jones Financial Companies Lllp raised its holdings in shares of RadNet by 62.2% during the 3rd quarter. Jones Financial Companies Lllp now owns 446 shares of the medical research company’s stock valued at $34,000 after purchasing an additional 171 shares in the last quarter. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. acquired a new stake in shares of RadNet in the 2nd quarter valued at $35,000. 77.90% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the stock. Barclays boosted their price target on shares of RadNet from $79.00 to $86.00 and gave the company an “overweight” rating in a report on Thursday, November 13th. Truist Financial boosted their target price on shares of RadNet from $81.00 to $90.00 and gave the company a “buy” rating in a research note on Wednesday, November 12th. Raymond James Financial reaffirmed a “strong-buy” rating and issued a $95.00 target price on shares of RadNet in a research report on Friday, November 14th. Weiss Ratings reiterated a “sell (d)” rating on shares of RadNet in a report on Wednesday, October 8th. Finally, Zacks Research cut shares of RadNet from a “strong-buy” rating to a “hold” rating in a report on Wednesday, November 12th. Two analysts have rated the stock with a Strong Buy rating, four have assigned 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 an average rating of “Moderate Buy” and a consensus price target of $84.00.

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.