RadNet (NASDAQ:RDNT) Stock: Insider Mital Patel Sells 44,661 Shares

RadNet, Inc. (NASDAQ:RDNT) EVP Mital Patel sold 44,661 shares of the business’s stock in a transaction that occurred on Wednesday, November 11th. The stock was sold at an average price of $78.51, for a total transaction of $3,506,335.11. Following the completion of the sale, the executive vice president owned 155,514 shares in the company, valued at $12,209,404.14. The trade was a 22.31% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

RadNet Stock Up 0.5%

RDNT stock opened at $76.42 on Friday. RadNet, Inc. has a 12 month low of $50.82 and a 12 month high of $85.84. The firm has a market cap of $6.02 billion, a PE ratio of -263.52 and a beta of 1.42. The firm has a 50 day simple moving average of $72.78 and a 200 day simple moving average of $65.51. The company has a debt-to-equity ratio of 0.90, a current ratio of 1.49 and a quick ratio of 1.48.

RadNet (NASDAQ:RDNT) last released its earnings results on Sunday, November 8th. The medical research company reported $0.30 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.22 by $0.08. The company had revenue of $638.26 million during the quarter, compared to analyst estimates of $639.97 million. RadNet had a positive return on equity of 3.14% and a negative net margin of 0.94%. The company’s revenue for the quarter was up 22.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.20 earnings per share. Equities research analysts forecast that RadNet, Inc. will post 0.56 earnings per share for the current fiscal year.

Analyst Ratings Changes

RDNT has been the subject of a number of recent research reports. KeyCorp raised their price target on RadNet from $92.00 to $95.00 and gave the stock an “overweight” rating in a research note on Tuesday. Truist Financial raised their price objective on RadNet from $90.00 to $94.00 and gave the company a “buy” rating in a research note on Tuesday, August 11th. Weiss Ratings reiterated a “sell (d-)” rating on shares of RadNet in a report on Wednesday, November 4th. Jefferies Financial Group reiterated a “buy” rating on shares of RadNet in a report on Friday, July 31st. Finally, Zacks Research downgraded shares of RadNet from a “strong-buy” rating to a “hold” rating in a report on Monday, November 9th. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $89.67.

Hedge Funds Weigh In On RadNet

Large investors have recently bought and sold shares of the stock. BlackRock Inc. acquired a new position in shares of RadNet in the 2nd quarter worth approximately $675,768,000. JB Capital Partners LP acquired a new position in RadNet during the 2nd quarter worth about $87,821,842. Bamco Inc. NY bought a new stake in RadNet during the 2nd quarter worth about $77,765,000. Dimensional Fund Advisors LP grew its holdings in RadNet by 1.4% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,379,003 shares of the medical research company’s stock worth $77,074,000 after acquiring an additional 19,188 shares during the last quarter. Finally, Van Berkom & Associates Inc. increased its position in RadNet by 24.9% in the 1st quarter. Van Berkom & Associates Inc. now owns 1,028,586 shares of the medical research company’s stock valued at $57,488,000 after acquiring an additional 204,858 shares in the last quarter. 77.90% of the stock is currently owned by institutional investors and hedge funds.

RadNet Company Profile

RadNet, Inc. operates outpatient diagnostic imaging centers in the United States. Its centers provide services including magnetic resonance imaging (MRI), computed tomography (CT), positron emission tomography (PET), mammography, ultrasound, X-ray and nuclear medicine imaging. The company serves patients, physicians and healthcare organizations, with operations across several states, including California, Delaware, Florida, Maryland, New Jersey and New York. Its imaging centers offer diagnostic services for a range of medical needs, from routine screening to specialized examinations.