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 stock in a transaction 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 directly owns 174,067 shares of the company’s stock, valued at $8,849,566.28. The trade was a 12.56 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link.

RadNet Trading Up 2.5 %

Shares of RadNet stock opened at $49.24 on Wednesday. RadNet, Inc. has a 1 year low of $42.45 and a 1 year high of $93.65. The firm has a market cap of $3.65 billion, a PE ratio of -703.33 and a beta of 1.85. The stock has a fifty day moving average price of $62.44 and a 200-day moving average price of $68.44. The company has a debt-to-equity ratio of 0.89, a current ratio of 2.16 and a quick ratio of 2.16.

RadNet (NASDAQ:RDNT) last announced its earnings results on Thursday, February 27th. The medical research company reported $0.22 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.21 by $0.01. RadNet had a positive return on equity of 4.29% and a negative net margin of 0.25%. The firm had revenue of $477.10 million during the quarter, compared to analyst estimates of $459.42 million. Equities research analysts anticipate that RadNet, Inc. will post 0.56 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on RDNT shares. Jefferies Financial Group lowered their price target on RadNet from $100.00 to $80.00 and set a “buy” rating for the company in a research report on Wednesday, January 15th. Raymond James raised RadNet from an “outperform” rating to a “strong-buy” rating and lowered their price target for the company from $85.00 to $65.00 in a research report on Wednesday, March 5th. Truist Financial reissued a “buy” rating and issued a $88.00 price target (down from $94.00) on shares of RadNet in a research report on Wednesday, January 22nd. Finally, Barclays lowered their price target on RadNet from $85.00 to $74.00 and set an “overweight” rating for the company in a research report on Wednesday, January 22nd. One equities research analyst has rated the stock with a sell rating, three have assigned a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Buy” and an average target price of $76.75.

Institutional Investors Weigh In On RadNet

Several large investors have recently made changes to their positions in RDNT. USA Financial Formulas purchased a new stake in RadNet in the 4th quarter worth about $30,000. Covestor Ltd boosted its stake in 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 during the period. Fifth Third Bancorp boosted its stake in 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 during the period. Peterson Financial Group Inc. bought a new stake in shares of RadNet during the 3rd quarter valued at about $90,000. Finally, Smartleaf Asset Management LLC boosted its position 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 hedge funds and other 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.