RadNet (NASDAQ:RDNT) Lowered to "Sell" Rating by Wall Street Zen

RadNet (NASDAQ:RDNT - Get Free Report) was downgraded by stock analysts at Wall Street Zen from a "hold" rating to a "sell" rating in a note issued to investors on Sunday.

RDNT has been the subject of a number of other research reports. B. Riley started coverage on RadNet in a research report on Friday, June 13th. They set a "buy" rating and a $69.00 price target for the company. Barclays lowered their price target on RadNet from $74.00 to $60.00 and set an "overweight" rating for the company in a research report on Monday, March 24th. Truist Financial lowered their price target on RadNet from $88.00 to $74.00 and set a "buy" rating for the company in a research report on Friday, April 11th. Finally, Raymond James Financial raised RadNet from an "outperform" rating to a "strong-buy" rating and decreased their target price for the stock from $85.00 to $65.00 in a research report on Wednesday, March 5th. One research analyst has rated the stock with a sell rating, three have issued a buy rating and three have given a strong buy rating to the stock. Based on data from MarketBeat, RadNet presently has a consensus rating of "Buy" and a consensus price target of $69.60.

RadNet Price Performance

RDNT opened at $57.12 on Friday. The stock has a 50-day moving average price of $55.94 and a 200-day moving average price of $58.73. RadNet has a 12-month low of $45.00 and a 12-month high of $93.65. The company has a current ratio of 2.01, a quick ratio of 2.01 and a debt-to-equity ratio of 0.87. The stock has a market capitalization of $4.29 billion, a P/E ratio of -132.83 and a beta of 1.43.

Insider Transactions at RadNet

In related news, EVP Alma Gregory Sorensen sold 55,000 shares of the company's stock in a transaction that occurred on Friday, May 23rd. The stock was sold at an average price of $56.48, for a total value of $3,106,400.00. Following the sale, the executive vice president now owns 1,160,509 shares in the company, valued at $65,545,548.32. This represents a 4.52% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, COO Norman R. Hames sold 2,911 shares of the company's stock in a transaction that occurred on Thursday, May 15th. The stock was sold at an average price of $60.00, for a total value of $174,660.00. Following the completion of the sale, the chief operating officer now owns 24,889 shares in the company, valued at $1,493,340. The trade was a 10.47% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 63,447 shares of company stock valued at $3,613,220. Corporate insiders own 5.60% of the company's stock.

Institutional Trading of RadNet

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Headlands Technologies LLC purchased a new stake in shares of RadNet in the 1st quarter worth approximately $28,000. GAMMA Investing LLC grew its stake in shares of RadNet by 22.3% in the 1st quarter. GAMMA Investing LLC now owns 1,644 shares of the medical research company's stock worth $82,000 after buying an additional 300 shares during the last quarter. Jones Financial Companies Lllp grew its stake in shares of RadNet by 563.4% in the 1st quarter. Jones Financial Companies Lllp now owns 1,705 shares of the medical research company's stock worth $85,000 after buying an additional 1,448 shares during the last quarter. Smartleaf Asset Management LLC grew its stake in shares of RadNet by 377.0% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,345 shares of the medical research company's stock worth $96,000 after buying an additional 1,063 shares during the last quarter. Finally, Tower Research Capital LLC TRC grew its stake in shares of RadNet by 42.2% in the 4th quarter. Tower Research Capital LLC TRC now owns 1,422 shares of the medical research company's stock worth $99,000 after buying an additional 422 shares during the last quarter. Hedge funds and other 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.

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