Alma Gregory Sorensen Sells 55,000 Shares of RadNet, Inc. (NASDAQ:RDNT) Stock

RadNet, Inc. (NASDAQ:RDNT - Get Free Report) EVP Alma Gregory Sorensen sold 55,000 shares of the firm's stock in a transaction on Friday, May 23rd. The shares were sold at an average price of $56.48, for a total transaction of $3,106,400.00. Following the completion of the sale, the executive vice president now owns 1,160,509 shares in the company, valued at $65,545,548.32. The trade was a 4.52% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink.

RadNet Stock Performance

Shares of RadNet stock traded up $0.76 during trading hours on Monday, hitting $58.25. 689,650 shares of the company were exchanged, compared to its average volume of 691,415. The company has a current ratio of 2.16, a quick ratio of 2.16 and a debt-to-equity ratio of 0.89. The business has a 50-day moving average of $53.40 and a 200-day moving average of $61.89. RadNet, Inc. has a 1 year low of $45.00 and a 1 year high of $93.65. The stock has a market capitalization of $4.37 billion, a price-to-earnings ratio of -832.02 and a beta of 1.46.

RadNet (NASDAQ:RDNT - Get Free Report) last announced its quarterly earnings data on Thursday, February 27th. The medical research company reported $0.22 EPS for the quarter, topping analysts' consensus estimates of $0.21 by $0.01. The company had revenue of $477.10 million during the quarter, compared to the consensus estimate of $459.42 million. RadNet had a negative net margin of 0.25% and a positive return on equity of 4.29%. As a group, analysts expect that RadNet, Inc. will post 0.56 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in RDNT. Rhumbline Advisers increased its position in RadNet by 1.1% during the 1st quarter. Rhumbline Advisers now owns 175,776 shares of the medical research company's stock worth $8,740,000 after purchasing an additional 1,895 shares during the period. Strs Ohio purchased a new position in shares of RadNet in the 1st quarter valued at about $139,000. Intech Investment Management LLC lifted its stake in shares of RadNet by 49.8% in the first quarter. Intech Investment Management LLC now owns 66,809 shares of the medical research company's stock valued at $3,322,000 after purchasing an additional 22,198 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in RadNet by 2.0% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 440,543 shares of the medical research company's stock worth $21,904,000 after buying an additional 8,762 shares in the last quarter. Finally, United Services Automobile Association acquired a new position in RadNet during the first quarter worth about $216,000. 77.90% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the stock. Barclays lowered their target price on shares of RadNet from $74.00 to $60.00 and set an "overweight" rating for the company in a report on Monday, March 24th. Raymond James upgraded RadNet from an "outperform" rating to a "strong-buy" rating and cut their target price for the stock from $85.00 to $65.00 in a research report on Wednesday, March 5th. Wall Street Zen cut RadNet from a "hold" rating to a "sell" rating in a research report on Thursday, May 22nd. Finally, Truist Financial reduced their price objective on RadNet from $88.00 to $74.00 and set a "buy" rating for the company in a research note on Friday, April 11th. One analyst has rated the stock with a sell rating, three have issued a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, the stock has an average rating of "Buy" and a consensus price target of $69.75.

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.