RadNet, Inc. (NASDAQ:RDNT) Director David L. Swartz Sells 25,000 Shares

RadNet, Inc. (NASDAQ:RDNT) Director David L. Swartz sold 25,000 shares of the company’s stock in a transaction that occurred on Friday, March 7th. The shares were sold at an average price of $50.84, for a total value of $1,271,000.00. Following the completion of the sale, the director now owns 174,067 shares in the company, valued at $8,849,566.28. The trade was a 12.56 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

RadNet Price Performance

RadNet stock opened at $49.24 on Wednesday. The stock has a market capitalization of $3.65 billion, a price-to-earnings ratio of -703.33 and a beta of 1.85. RadNet, Inc. has a 52-week low of $42.45 and a 52-week high of $93.65. The stock’s 50 day moving average price is $62.44 and its two-hundred day moving average price is $68.44. The company has a debt-to-equity ratio of 0.89, a quick ratio of 2.16 and a current ratio of 2.16.

RadNet (NASDAQ:RDNT) last posted its quarterly 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 firm had revenue of $477.10 million for 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, equities analysts predict that RadNet, Inc. will post 0.56 earnings per share for the current year.

Hedge Funds Weigh In On RadNet

Institutional investors and hedge funds have recently modified their holdings of the business. USA Financial Formulas bought a new position in shares of RadNet in the 4th quarter worth $30,000. Covestor Ltd lifted its holdings in shares of RadNet by 10,875.0% in the 3rd quarter. Covestor Ltd now owns 439 shares of the medical research company’s stock worth $30,000 after purchasing an additional 435 shares in the last quarter. Fifth Third Bancorp lifted its holdings in shares of RadNet by 84.3% in the 4th quarter. Fifth Third Bancorp now owns 667 shares of the medical research company’s stock worth $47,000 after purchasing an additional 305 shares in the last quarter. Peterson Financial Group Inc. bought a new position in shares of RadNet in the 3rd quarter worth $90,000. Finally, Smartleaf Asset Management LLC lifted its holdings 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 purchasing an additional 1,063 shares in the last quarter. 77.90% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several brokerages recently commented on RDNT. Raymond James upgraded 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 report on Wednesday, March 5th. Barclays reduced their target price on RadNet from $85.00 to $74.00 and set an “overweight” rating on the stock in a report on Wednesday, January 22nd. Jefferies Financial Group reduced their target price on RadNet from $100.00 to $80.00 and set a “buy” rating on the stock in a report on Wednesday, January 15th. Finally, Truist Financial reiterated a “buy” rating and issued a $88.00 target price (down from $94.00) on shares of RadNet in a report on Wednesday, January 22nd. One research analyst has rated the stock with a sell rating, three have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Buy” and an average target price of $76.75.

RadNet Company Profile

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.