RadNet, Inc. (NASDAQ:RDNT) Insider Sells $3,084,560.00 in Stock

RadNet, Inc. (NASDAQ:RDNT) insider Ranjan Jayanathan sold 38,557 shares of the stock in a transaction that occurred on Tuesday, November 19th. The shares were sold at an average price of $80.00, for a total transaction of $3,084,560.00. Following the sale, the insider now directly owns 192,724 shares of the company’s stock, valued at $15,417,920. The trade was a 16.67 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

RadNet Stock Up 0.9 %

RadNet stock opened at $82.04 on Friday. The business’s 50-day simple moving average is $70.73 and its two-hundred day simple moving average is $63.83. The company has a debt-to-equity ratio of 0.89, a quick ratio of 2.16 and a current ratio of 2.16. The company has a market cap of $6.07 billion, a PE ratio of -1,165.94 and a beta of 1.75. RadNet, Inc. has a fifty-two week low of $32.01 and a fifty-two week high of $93.65.

Institutional Investors Weigh In On RadNet

Large investors have recently bought and sold shares of the company. SG Americas Securities LLC lifted its stake in RadNet by 8.7% during the 1st quarter. SG Americas Securities LLC now owns 3,637 shares of the medical research company’s stock valued at $177,000 after acquiring an additional 291 shares during the period. Sei Investments Co. lifted its position in RadNet by 18.8% during the first quarter. Sei Investments Co. now owns 65,899 shares of the medical research company’s stock valued at $3,207,000 after purchasing an additional 10,430 shares during the period. Vanguard Group Inc. boosted its holdings in RadNet by 8.1% in the first quarter. Vanguard Group Inc. now owns 4,600,539 shares of the medical research company’s stock valued at $223,862,000 after purchasing an additional 345,822 shares during the last quarter. Edgestream Partners L.P. acquired a new stake in RadNet during the 1st quarter worth about $324,000. Finally, O Shaughnessy Asset Management LLC purchased a new position in shares of RadNet during the 1st quarter valued at about $274,000. Hedge funds and other institutional investors own 77.90% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on RDNT. Truist Financial upped their price target on RadNet from $70.00 to $80.00 and gave the stock a “buy” rating in a research report on Monday, September 23rd. Sidoti upgraded RadNet to a “strong-buy” rating in a research note on Friday, October 4th. Jefferies Financial Group boosted their price target on RadNet from $75.00 to $80.00 and gave the stock a “buy” rating in a research note on Thursday, September 19th. Finally, Barclays raised shares of RadNet from an “equal weight” rating to an “overweight” rating and increased their price objective for the company from $57.00 to $79.00 in a research report on Friday, September 6th. One equities research analyst has rated the stock with a sell rating, four have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average 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.