RadNet, Inc. (NASDAQ:RDNT) Director David L. Swartz Sells 25,000 Shares

RadNet, Inc. (NASDAQ:RDNT) Director David L. Swartz sold 25,000 shares of the firm’s stock in a transaction on Friday, March 7th. The stock was sold at an average price of $50.84, for a total value of $1,271,000.00. Following the completion of the sale, the director now directly owns 174,067 shares of the company’s stock, valued at $8,849,566.28. The trade was a 12.56 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

RadNet Stock Performance

RDNT opened at $47.24 on Thursday. The company has a current ratio of 2.16, a quick ratio of 2.16 and a debt-to-equity ratio of 0.89. RadNet, Inc. has a 12-month low of $42.45 and a 12-month high of $93.65. The firm has a 50 day moving average of $61.99 and a two-hundred day moving average of $68.30. The firm has a market capitalization of $3.50 billion, a PE ratio of -674.76 and a beta of 1.85.

RadNet (NASDAQ:RDNT) last released its quarterly earnings data on Thursday, February 27th. The medical research company reported $0.22 earnings per share for the quarter, topping analysts’ consensus estimates of $0.21 by $0.01. The firm had revenue of $477.10 million for the quarter, compared to analyst estimates of $459.42 million. RadNet had a negative net margin of 0.25% and a positive return on equity of 4.29%. On average, analysts anticipate that RadNet, Inc. will post 0.56 EPS for the current year.

Hedge Funds Weigh In On RadNet

A number of institutional investors have recently modified their holdings of the stock. Virtue Capital Management LLC grew its holdings in RadNet by 6.4% during the fourth quarter. Virtue Capital Management LLC now owns 20,628 shares of the medical research company’s stock worth $1,441,000 after acquiring an additional 1,239 shares during the period. Squarepoint Ops LLC purchased a new stake in RadNet in the 4th quarter worth approximately $3,407,000. Twinbeech Capital LP acquired a new stake in shares of RadNet during the 4th quarter worth approximately $1,420,000. Two Sigma Advisers LP increased its holdings in shares of RadNet by 217.1% during the 4th quarter. Two Sigma Advisers LP now owns 24,100 shares of the medical research company’s stock valued at $1,683,000 after purchasing an additional 16,500 shares in the last quarter. Finally, Two Sigma Investments LP increased its holdings in shares of RadNet by 46.0% during the 4th quarter. Two Sigma Investments LP now owns 81,065 shares of the medical research company’s stock valued at $5,662,000 after purchasing an additional 25,529 shares in the last quarter. Hedge funds and other institutional investors own 77.90% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on RDNT shares. Raymond James raised RadNet from an “outperform” rating to a “strong-buy” rating and lowered their price target for the stock from $85.00 to $65.00 in a report on Wednesday, March 5th. Truist Financial restated a “buy” rating and set a $88.00 price target (down previously from $94.00) on shares of RadNet in a research note on Wednesday, January 22nd. Jefferies Financial Group lowered their price objective on shares of RadNet from $100.00 to $80.00 and set a “buy” rating for the company in a research note on Wednesday, January 15th. Finally, Barclays dropped their price objective on shares of RadNet from $85.00 to $74.00 and set an “overweight” rating on the stock in a report on Wednesday, January 22nd. One research analyst has rated the stock with a sell rating, three have issued a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus price target of $76.75.

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.