RadNet (NASDAQ:RDNT) EVP Sells $2,586,150.00 in 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 business's stock in a transaction that occurred 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 sale, 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

RadNet Trading Down 0.2%

RDNT traded down $0.14 during trading on Friday, reaching $76.44. 1,308,249 shares of the company's stock were exchanged, compared to its average volume of 644,384. RadNet, Inc. has a one year low of $45.00 and a one year high of $93.65. 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 market capitalization of $5.88 billion, a PE ratio of -382.18 and a beta of 1.54. The firm has a fifty day moving average price of $64.97 and a two-hundred day moving average price of $57.73.

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

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on RDNT shares. Barclays boosted their price target on shares of RadNet from $60.00 to $79.00 and gave the stock an "overweight" rating in a research report on Wednesday, September 3rd. Morgan Stanley upgraded shares of RadNet to an "overweight" rating in a research report on Monday, August 11th. Raymond James Financial restated a "strong-buy" rating and issued a $75.00 price target (up previously from $66.00) on shares of RadNet in a research report on Wednesday, August 13th. B. Riley assumed coverage on shares of RadNet in a research report on Friday, June 13th. They set a "buy" rating and a $69.00 target price on the stock. Finally, Zacks Research upgraded shares of RadNet from a "strong sell" rating to a "hold" rating in a research report on Monday, August 18th. Three equities research 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 company. According to MarketBeat.com, the stock has an average rating of "Buy" and a consensus price target of $76.80.

Hedge Funds Weigh In On RadNet

Several institutional investors have recently added to or reduced their stakes in the stock. Zions Bancorporation National Association UT grew its position in RadNet by 0.6% during the second quarter. Zions Bancorporation National Association UT now owns 35,081 shares of the medical research company's stock valued at $1,996,000 after buying an additional 204 shares during the period. Amalgamated Bank grew its position in RadNet by 1.2% during the second quarter. Amalgamated Bank now owns 18,820 shares of the medical research company's stock valued at $1,071,000 after buying an additional 224 shares during the period. Moran Wealth Management LLC grew its position in RadNet by 2.2% during the first quarter. Moran Wealth Management LLC now owns 10,643 shares of the medical research company's stock valued at $529,000 after buying an additional 225 shares during the period. Xponance Inc. grew its position in RadNet by 5.0% during the first quarter. Xponance Inc. now owns 5,010 shares of the medical research company's stock valued at $249,000 after buying an additional 239 shares during the period. Finally, GAMMA Investing LLC grew its position in RadNet by 22.3% during the first quarter. GAMMA Investing LLC now owns 1,644 shares of the medical research company's stock valued at $82,000 after buying an additional 300 shares during the period. Institutional investors own 77.90% of the company's stock.

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.