RadNet (NASDAQ:RDNT) Director David Swartz Sells 2,699 Shares of Stock

RadNet, Inc. (NASDAQ:RDNT) Director David Swartz sold 2,699 shares of the stock in a transaction on Thursday, June 18th. The stock was sold at an average price of $53.89, for a total transaction of $145,449.11. Following the transaction, the director owned 177,013 shares of the company’s stock, valued at $9,539,230.57. The trade was a 1.50% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

RadNet Stock Up 3.8%

RadNet stock opened at $55.76 on Tuesday. The company has a current ratio of 1.17, a quick ratio of 1.17 and a debt-to-equity ratio of 0.79. RadNet, Inc. has a 1-year low of $50.76 and a 1-year high of $85.84. The company has a fifty day simple moving average of $55.81 and a 200 day simple moving average of $64.23. The company has a market cap of $4.38 billion, a P/E ratio of -309.76 and a beta of 1.41.

RadNet (NASDAQ:RDNT) last issued its quarterly earnings results on Monday, May 11th. The medical research company reported ($0.28) EPS for the quarter, missing the consensus estimate of ($0.14) by ($0.14). The business had revenue of $575.63 million for the quarter, compared to the consensus estimate of $557.93 million. RadNet had a positive return on equity of 2.77% and a negative net margin of 0.66%.The company’s quarterly revenue was up 22.1% compared to the same quarter last year. During the same period last year, the firm earned ($0.50) earnings per share. Research analysts anticipate that RadNet, Inc. will post 0.54 earnings per share for the current fiscal year.

Hedge Funds Weigh In On RadNet

Hedge funds and other institutional investors have recently bought and sold shares of the business. Crossmark Global Holdings Inc. lifted its position in shares of RadNet by 3.3% in the fourth quarter. Crossmark Global Holdings Inc. now owns 5,048 shares of the medical research company’s stock valued at $360,000 after buying an additional 163 shares during the last quarter. Summit Financial LLC increased its holdings in shares of RadNet by 1.3% during the 4th quarter. Summit Financial LLC now owns 12,563 shares of the medical research company’s stock worth $896,000 after acquiring an additional 166 shares during the last quarter. Jones Financial Companies Lllp increased its holdings in shares of RadNet by 62.2% during the 3rd quarter. Jones Financial Companies Lllp now owns 446 shares of the medical research company’s stock worth $34,000 after acquiring an additional 171 shares during the last quarter. Bank of Montreal Can raised its stake in RadNet by 3.3% in the 4th quarter. Bank of Montreal Can now owns 5,557 shares of the medical research company’s stock valued at $396,000 after acquiring an additional 180 shares during the period. Finally, Xponance Inc. raised its stake in RadNet by 3.7% in the 3rd quarter. Xponance Inc. now owns 5,368 shares of the medical research company’s stock valued at $409,000 after acquiring an additional 193 shares during the period. Institutional investors own 77.90% of the company’s stock.

Wall Street Analyst Weigh In

RDNT has been the subject of several recent research reports. Barclays reduced their price target on RadNet from $70.00 to $65.00 and set an “overweight” rating for the company in a research report on Wednesday, May 20th. Jefferies Financial Group reiterated a “buy” rating and set a $91.00 price objective on shares of RadNet in a research note on Tuesday, March 3rd. Finally, Weiss Ratings downgraded RadNet from a “sell (d)” rating to a “sell (d-)” rating in a report on Tuesday, May 12th. Two investment analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, RadNet has an average rating of “Moderate Buy” and an average target price of $87.43.

RadNet Company Profile

RadNet, Inc is a leading independent provider of outpatient diagnostic imaging services in the United States. Through a nationwide network of fixed-site imaging centers and affiliated joint-venture locations, the company delivers a comprehensive suite of radiology services including MRI, CT, PET/CT, ultrasound, X-ray, mammography, bone densitometry, nuclear medicine and interventional radiology procedures. RadNet also offers teleradiology and imaging management solutions to physician practices, hospitals and healthcare systems.

Founded in 1981 and headquartered in Los Angeles, RadNet has expanded its footprint organically and through strategic acquisitions.