Insider Selling: RadNet, Inc. (NASDAQ:RDNT) EVP Sells 12,300 Shares of Stock

RadNet, Inc. (NASDAQ:RDNT) EVP David Jeffrey Katz sold 12,300 shares of the stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $81.65, for a total transaction of $1,004,295.00. Following the completion of the transaction, the executive vice president now owns 62,909 shares in the company, valued at $5,136,519.85. The trade was a 16.35 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link.

RadNet Price Performance

RDNT traded up $1.04 during trading on Wednesday, hitting $82.49. 402,553 shares of the company traded hands, compared to its average volume of 551,722. The company has a market cap of $6.11 billion, a PE ratio of -1,163.41 and a beta of 1.75. The stock’s 50-day simple moving average is $71.61 and its two-hundred day simple moving average is $64.59. RadNet, Inc. has a 1 year low of $32.15 and a 1 year high of $93.65. The company has a current ratio of 2.16, a quick ratio of 2.16 and a debt-to-equity ratio of 0.89.

Hedge Funds Weigh In On RadNet

Institutional investors and hedge funds have recently made changes to their positions in the business. Covestor Ltd grew its stake 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 buying an additional 435 shares in the last quarter. Nisa Investment Advisors LLC lifted its holdings in shares of RadNet by 774.2% in the 2nd quarter. Nisa Investment Advisors LLC now owns 848 shares of the medical research company’s stock worth $50,000 after acquiring an additional 751 shares during the last quarter. GAMMA Investing LLC lifted its holdings in shares of RadNet by 74.7% in the 2nd quarter. GAMMA Investing LLC now owns 865 shares of the medical research company’s stock worth $51,000 after acquiring an additional 370 shares during the last quarter. Highline Wealth Partners LLC bought a new stake in shares of RadNet in the 3rd quarter worth about $68,000. Finally, Peterson Financial Group Inc. bought a new stake in RadNet during the 3rd quarter valued at about $90,000. 77.90% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts have weighed in on the stock. Truist Financial increased their price target on shares of RadNet from $70.00 to $80.00 and gave the stock a “buy” rating in a research report on Monday, September 23rd. Sidoti upgraded shares of RadNet to a “strong-buy” rating in a research report on Friday, October 4th. Jefferies Financial Group increased their price target on shares of RadNet from $75.00 to $80.00 and gave the stock a “buy” rating in a research report on Thursday, September 19th. Finally, Barclays upgraded shares of RadNet from an “equal weight” rating to an “overweight” rating and increased their price target for the stock from $57.00 to $79.00 in a research report on Friday, September 6th. One analyst has rated the stock with a sell rating, four have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $74.75.

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.