RadNet, Inc. (NASDAQ:RDNT) EVP Sells $3,106,400.00 in Stock

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

RadNet Price Performance

Shares of RDNT stock traded up $2.59 during mid-day trading on Friday, reaching $57.78. The stock had a trading volume of 1,250,804 shares, compared to its average volume of 690,032. RadNet, Inc. has a 12-month low of $45.00 and a 12-month high of $93.65. The company has a market cap of $4.34 billion, a P/E ratio of -825.31 and a beta of 1.46. The business has a 50-day simple moving average of $53.40 and a 200 day simple moving average of $62.17. 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 (NASDAQ:RDNT - Get Free Report) last issued its earnings results on Thursday, February 27th. The medical research company reported $0.22 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.21 by $0.01. The business had revenue of $477.10 million during the quarter, compared to analysts' expectations of $459.42 million. RadNet had a positive return on equity of 4.29% and a negative net margin of 0.25%. On average, sell-side analysts anticipate that RadNet, Inc. will post 0.56 earnings per share for the current year.

Institutional Trading of RadNet

A number of hedge funds have recently bought and sold shares of RDNT. Headlands Technologies LLC bought a new stake in RadNet in the first quarter worth approximately $28,000. Fifth Third Bancorp boosted its stake in RadNet by 84.3% during the fourth quarter. Fifth Third Bancorp now owns 667 shares of the medical research company's stock worth $47,000 after buying an additional 305 shares in the last quarter. GAMMA Investing LLC lifted its holdings in shares of 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 acquiring an additional 300 shares during the period. Jones Financial Companies Lllp lifted its holdings in shares of RadNet by 563.4% during the first quarter. Jones Financial Companies Lllp now owns 1,705 shares of the medical research company's stock valued at $85,000 after acquiring an additional 1,448 shares during the period. Finally, Smartleaf Asset Management LLC lifted its holdings in shares of RadNet by 377.0% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,345 shares of the medical research company's stock valued at $96,000 after acquiring an additional 1,063 shares during the period. 77.90% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

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