Investors Purchase High Volume of Call Options on RadNet (NASDAQ:RDNT)

RadNet, Inc. (NASDAQ:RDNT) was the target of unusually large options trading activity on Tuesday. Investors bought 9,142 call options on the company. This is an increase of approximately 1,250% compared to the typical daily volume of 677 call options.

Insider Activity at RadNet

In related news, CAO Mital Patel sold 15,080 shares of the stock in a transaction on Wednesday, November 19th. The shares were sold at an average price of $80.05, for a total transaction of $1,207,154.00. Following the completion of the transaction, the chief accounting officer owned 180,138 shares in the company, valued at approximately $14,420,046.90. This represents a 7.72% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders have sold a total of 50,000 shares of company stock valued at $3,902,254 over the last 90 days. Insiders own 5.60% of the company’s stock.

Institutional Investors Weigh In On RadNet

A number of institutional investors have recently made changes to their positions in RDNT. LPL Financial LLC grew its position in shares of RadNet by 616.4% in the first quarter. LPL Financial LLC now owns 45,260 shares of the medical research company’s stock valued at $2,235,000 after purchasing an additional 38,942 shares during the last quarter. Nuveen LLC acquired a new position in RadNet in the 1st quarter valued at $27,422,000. HighTower Advisors LLC grew its holdings in RadNet by 6.2% in the 1st quarter. HighTower Advisors LLC now owns 9,345 shares of the medical research company’s stock valued at $465,000 after buying an additional 548 shares in the last quarter. Russell Investments Group Ltd. increased its position in RadNet by 15.0% during the 1st quarter. Russell Investments Group Ltd. now owns 101,018 shares of the medical research company’s stock worth $5,023,000 after buying an additional 13,147 shares during the period. Finally, American Century Companies Inc. lifted 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 worth $63,290,000 after buying an additional 1,063,516 shares in the last quarter. Institutional investors own 77.90% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on RDNT shares. Weiss Ratings reissued a “sell (d-)” rating on shares of RadNet in a research report on Monday. Truist Financial set a $90.00 target price on RadNet in a research report on Wednesday. The Goldman Sachs Group raised RadNet to a “buy” rating in a research report on Tuesday. Raymond James Financial reaffirmed a “strong-buy” rating and set a $95.00 price target on shares of RadNet in a research report on Friday, November 14th. Finally, B. Riley upped their price objective on RadNet from $71.00 to $87.00 and gave the stock a “buy” rating in a research note on Monday, December 1st. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $87.60.

RadNet Price Performance

Shares of NASDAQ RDNT opened at $71.24 on Thursday. 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 business’s 50 day moving average price is $78.01 and its two-hundred day moving average price is $68.89. The company has a market cap of $5.50 billion, a PE ratio of -419.03 and a beta of 1.49. RadNet has a twelve month low of $45.00 and a twelve month high of $85.84.

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

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.