RadNet Sees Unusually High Options Volume (NASDAQ:RDNT)

RadNet, Inc. (NASDAQ:RDNT) was the recipient of some unusual options trading on Tuesday. Stock traders bought 9,142 call options on the company. This is an increase of approximately 1,250% compared to the average volume of 677 call options.

Insider Buying and Selling at RadNet

In related news, CAO Mital Patel sold 15,080 shares of the firm’s stock in a transaction that occurred on Wednesday, November 19th. The stock was sold at an average price of $80.05, for a total transaction of $1,207,154.00. Following the completion of the sale, the chief accounting officer directly owned 180,138 shares of the company’s stock, valued at approximately $14,420,046.90. This trade represents a 7.72% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders sold 50,000 shares of company stock valued at $3,902,254 in the last quarter. Corporate insiders own 5.60% of the company’s stock.

Institutional Investors Weigh In On RadNet

A number of institutional investors have recently added to or reduced their stakes in RDNT. American Century Companies Inc. increased its holdings in shares of RadNet by 507.9% during the first quarter. American Century Companies Inc. now owns 1,272,928 shares of the medical research company’s stock valued at $63,290,000 after acquiring an additional 1,063,516 shares in the last quarter. Polar Capital Holdings Plc purchased a new stake in RadNet during the 3rd quarter worth approximately $63,423,000. Van Berkom & Associates Inc. increased its stake in RadNet by 14,163.6% during the 3rd quarter. Van Berkom & Associates Inc. now owns 823,582 shares of the medical research company’s stock valued at $62,765,000 after purchasing an additional 817,808 shares in the last quarter. T. Rowe Price Investment Management Inc. raised its holdings in shares of RadNet by 81.4% in the first quarter. T. Rowe Price Investment Management Inc. now owns 1,657,613 shares of the medical research company’s stock worth $82,417,000 after buying an additional 743,922 shares during the last quarter. Finally, Alyeska Investment Group L.P. lifted its stake in shares of RadNet by 141.7% during the first quarter. Alyeska Investment Group L.P. now owns 1,214,882 shares of the medical research company’s stock worth $60,404,000 after buying an additional 712,270 shares during the period. Institutional investors own 77.90% of the company’s stock.

RadNet Stock Down 6.3%

Shares of NASDAQ RDNT traded down $4.56 during midday trading on Tuesday, reaching $68.02. 1,582,349 shares of the company’s stock traded hands, compared to its average volume of 800,855. The company has a quick ratio of 1.87, a current ratio of 1.87 and a debt-to-equity ratio of 0.82. The stock’s 50 day simple moving average is $78.24 and its 200-day simple moving average is $68.78. RadNet has a one year low of $45.00 and a one year high of $85.84. The company has a market cap of $5.25 billion, a price-to-earnings ratio of -399.77 and a beta of 1.48.

RadNet (NASDAQ:RDNT) last issued its quarterly earnings data on Monday, November 10th. The medical research company reported $0.20 EPS for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.03). The business had revenue of $522.87 million during the quarter, compared to the consensus estimate of $494.19 million. RadNet had a positive return on equity of 2.52% and a negative net margin of 0.65%.The business’s quarterly revenue was up 13.4% on a year-over-year basis. During the same period last year, the firm earned $0.18 EPS. On average, analysts predict that RadNet will post 0.56 EPS for the current fiscal year.

Analyst Ratings Changes

RDNT has been the subject of a number of recent analyst reports. Weiss Ratings reissued a “sell (d-)” rating on shares of RadNet in a research note on Monday, December 8th. Raymond James Financial reiterated a “strong-buy” rating and set a $95.00 price objective on shares of RadNet in a report on Friday, November 14th. Zacks Research cut shares of RadNet from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, November 12th. B. Riley raised their target price on shares of RadNet from $71.00 to $87.00 and gave the stock a “buy” rating in a research report on Monday, December 1st. Finally, Truist Financial boosted their price target on RadNet from $81.00 to $90.00 and gave the company a “buy” rating in a report on Wednesday, November 12th. One investment analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $87.60.

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.