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 business’s stock in a transaction that occurred on Tuesday, November 19th. The stock was sold at an average price of $80.00, for a total transaction of $3,084,560.00. Following the sale, the insider now owns 192,724 shares of the company’s stock, valued at $15,417,920. This represents a 16.67 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink.

RadNet Stock Performance

RadNet stock traded down $0.53 during mid-day trading on Thursday, reaching $81.63. 214,212 shares of the company were exchanged, compared to its average volume of 553,412. The firm’s 50-day simple moving average is $70.44 and its two-hundred day simple moving average is $63.70. RadNet, Inc. has a twelve month low of $32.00 and a twelve month high of $93.65. The firm has a market cap of $6.04 billion, a PE ratio of -1,173.55 and a beta of 1.75. The company has a debt-to-equity ratio of 0.89, a quick ratio of 2.16 and a current ratio of 2.16.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the stock. Jefferies Financial Group boosted their price target on shares of RadNet from $75.00 to $80.00 and gave the company a “buy” rating in a research report on Thursday, September 19th. Truist Financial raised their price target on RadNet from $70.00 to $80.00 and gave the stock a “buy” rating in a research note on Monday, September 23rd. Barclays upgraded RadNet from an “equal weight” rating to an “overweight” rating and boosted their price objective for the company from $57.00 to $79.00 in a research note on Friday, September 6th. Finally, Sidoti upgraded shares of RadNet to a “strong-buy” rating in a research report on Friday, October 4th. 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 company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $74.75.

Hedge Funds Weigh In On RadNet

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Covestor Ltd boosted its holdings in shares of RadNet by 10,875.0% in the third quarter. Covestor Ltd now owns 439 shares of the medical research company’s stock valued at $30,000 after acquiring an additional 435 shares in the last quarter. Nisa Investment Advisors LLC lifted its position in RadNet by 774.2% in the second quarter. Nisa Investment Advisors LLC now owns 848 shares of the medical research company’s stock valued at $50,000 after purchasing an additional 751 shares during the period. GAMMA Investing LLC boosted its holdings in RadNet by 74.7% in the 2nd quarter. GAMMA Investing LLC now owns 865 shares of the medical research company’s stock valued at $51,000 after purchasing an additional 370 shares in the last quarter. Highline Wealth Partners LLC acquired a new position in RadNet during the 3rd quarter worth approximately $68,000. Finally, Peterson Financial Group Inc. purchased a new position in shares of RadNet during the 3rd quarter worth approximately $90,000. 77.90% of the stock is currently 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.