RadNet (NASDAQ:RDNT) Cut to "Sell" at Wall Street Zen

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

Several other equities research analysts also recently commented on RDNT. Raymond James Financial upgraded shares of RadNet from an "outperform" rating to a "strong-buy" rating and reduced their price target for the company from $85.00 to $65.00 in a research report on Wednesday, March 5th. B. Riley initiated coverage on RadNet in a report on Friday, June 13th. They issued a "buy" rating and a $69.00 target price for the company. Barclays lowered their price target on RadNet from $74.00 to $60.00 and set an "overweight" rating on the stock in a report on Monday, March 24th. 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 equities research analyst has rated the stock with a sell rating, three have given a buy rating and three have issued a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Buy" and an average target price of $69.60.

RadNet Trading Up 0.0%

NASDAQ RDNT traded up $0.02 on Friday, hitting $55.64. 272,053 shares of the company were exchanged, compared to its average volume of 680,472. The company has a debt-to-equity ratio of 0.87, a current ratio of 2.01 and a quick ratio of 2.01. RadNet has a twelve month low of $45.00 and a twelve month high of $93.65. The firm has a market capitalization of $4.17 billion, a P/E ratio of -129.44 and a beta of 1.41. The company's 50 day moving average price is $56.28 and its 200-day moving average price is $58.42.

Insider Buying and Selling at RadNet

In related news, EVP Alma Gregory Sorensen sold 55,000 shares of the business'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 completion of the sale, the executive vice president owned 1,160,509 shares of the company's stock, valued at approximately $65,545,548.32. The trade was a 4.52% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, COO Norman R. Hames sold 2,911 shares of the 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 transaction, the chief operating officer owned 24,889 shares in the company, valued at $1,493,340. This represents a 10.47% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 63,447 shares of company stock valued at $3,613,220. 5.60% of the stock is owned by corporate insiders.

Institutional Trading of RadNet

Large investors have recently added to or reduced their stakes in the business. Rhumbline Advisers raised its holdings in shares of RadNet by 1.1% during the 1st quarter. Rhumbline Advisers now owns 175,776 shares of the medical research company's stock valued at $8,740,000 after purchasing an additional 1,895 shares in the last quarter. SG Americas Securities LLC raised its holdings in RadNet by 239.5% during the first quarter. SG Americas Securities LLC now owns 13,337 shares of the medical research company's stock valued at $663,000 after buying an additional 9,409 shares in the last quarter. JPMorgan Chase & Co. lifted its position in shares of RadNet by 154.8% in the fourth quarter. JPMorgan Chase & Co. now owns 338,843 shares of the medical research company's stock worth $23,665,000 after buying an additional 205,846 shares during the last quarter. Janus Henderson Group PLC boosted its stake in shares of RadNet by 3.5% during the 4th quarter. Janus Henderson Group PLC now owns 31,436 shares of the medical research company's stock worth $2,195,000 after acquiring an additional 1,049 shares in the last quarter. Finally, Smartleaf Asset Management LLC increased its holdings in shares of RadNet by 377.0% during the 4th 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 last quarter. 77.90% of the stock is owned by institutional investors.

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.