Insider Selling: RadNet (NASDAQ:RDNT) EVP Sells 35,000 Shares of Stock

Key Points

• RadNet's Executive Vice President, Mark Stolper, sold 35,000 shares of stock at an average price of $73.89, representing a significant decrease of 33.98% in his ownership.
• The company reported $498.23 million in revenue for the last quarter, exceeding analysts' estimates, and had a positive EPS of $0.31.
• Analysts have varied opinions on RadNet, with a consensus rating of "Buy" and an average price target of $76.80 per share.

RadNet, Inc. (NASDAQ:RDNT - Get Free Report) EVP Mark Stolper sold 35,000 shares of the firm's stock in a transaction on Tuesday, September 16th. The stock was sold at an average price of $73.89, for a total transaction of $2,586,150.00. Following the transaction, the executive vice president directly owned 68,012 shares in the company, valued at $5,025,406.68. The trade was a 33.98% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website.

RadNet Stock Performance

Shares of RDNT stock traded down $0.80 during midday trading on Monday, hitting $75.64. The company had a trading volume of 379,298 shares, compared to its average volume of 674,748. RadNet, Inc. has a 52-week low of $45.00 and a 52-week high of $93.65. The company has a debt-to-equity ratio of 0.91, a current ratio of 2.00 and a quick ratio of 2.00. The company's 50 day simple moving average is $65.35 and its 200 day simple moving average is $57.95. The stock has a market cap of $5.82 billion, a price-to-earnings ratio of -378.18 and a beta of 1.54.

RadNet (NASDAQ:RDNT - Get Free Report) last announced its quarterly earnings data on Sunday, August 10th. The medical research company reported $0.31 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.17 by $0.14. The company had revenue of $498.23 million for the quarter, compared to analysts' expectations of $488.06 million. RadNet had a negative net margin of 0.78% and a positive return on equity of 2.41%. RadNet's revenue was up 8.4% compared to the same quarter last year. During the same period in the previous year, the company posted $0.16 EPS. Research analysts anticipate that RadNet, Inc. will post 0.56 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on RDNT. Zacks Research upgraded RadNet from a "strong sell" rating to a "hold" rating in a research note on Monday, August 18th. B. Riley began coverage on shares of RadNet in a research note on Friday, June 13th. They set a "buy" rating and a $69.00 price target on the stock. Wall Street Zen upgraded shares of RadNet from a "sell" rating to a "hold" rating in a research report on Saturday, August 16th. Raymond James Financial reiterated a "strong-buy" rating and set a $75.00 price target (up from $66.00) on shares of RadNet in a research report on Wednesday, August 13th. Finally, Barclays upped their price target on RadNet from $60.00 to $79.00 and gave the stock an "overweight" rating in a report on Wednesday, September 3rd. Three analysts have rated the stock with a Strong Buy rating, four have given a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat, RadNet has an average rating of "Buy" and an average price target of $76.80.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of RDNT. American Century Companies Inc. raised its stake in shares of RadNet by 507.9% during the first quarter. American Century Companies Inc. now owns 1,272,928 shares of the medical research company's stock valued at $63,290,000 after purchasing an additional 1,063,516 shares in the last quarter. T. Rowe Price Investment Management Inc. raised its position in shares of RadNet by 81.4% during the first quarter. T. Rowe Price Investment Management Inc. now owns 1,657,613 shares of the medical research company's stock worth $82,417,000 after purchasing an additional 743,922 shares during the period. Alyeska Investment Group L.P. boosted its stake in RadNet by 141.7% in the 1st quarter. Alyeska Investment Group L.P. now owns 1,214,882 shares of the medical research company's stock worth $60,404,000 after purchasing an additional 712,270 shares during the period. Ameriprise Financial Inc. grew its holdings in shares of RadNet by 79.7% during the second quarter. Ameriprise Financial Inc. now owns 1,394,552 shares of the medical research company's stock valued at $79,364,000 after buying an additional 618,392 shares in the last quarter. Finally, Nuveen LLC acquired a new position in shares of RadNet in the 1st quarter valued at about $27,422,000. 77.90% of the stock is currently owned by hedge funds and other institutional investors.

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.