RadNet (NASDAQ:RDNT) CAO Mital Patel Sells 15,080 Shares of Stock

RadNet, Inc. (NASDAQ:RDNT) 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 value of $1,207,154.00. Following the completion of the sale, the chief accounting officer owned 180,138 shares in the company, valued at approximately $14,420,046.90. This trade represents a 7.72% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

Mital Patel also recently made the following trade(s):

• On Tuesday, November 18th, Mital Patel sold 9,920 shares of RadNet stock. The stock was sold at an average price of $80.00, for a total transaction of $793,600.00.
• On Monday, November 17th, Mital Patel sold 25,000 shares of RadNet stock. The shares were sold at an average price of $76.06, for a total transaction of $1,901,500.00.

RadNet Stock Performance

Shares of RDNT stock opened at $80.29 on Thursday. RadNet, Inc. has a 52 week low of $45.00 and a 52 week high of $85.42. The company has a market capitalization of $6.19 billion, a price-to-earnings ratio of -401.43 and a beta of 1.58. The company has a 50-day simple moving average of $77.00 and a 200 day simple moving average of $65.91. The company has a debt-to-equity ratio of 0.91, a quick ratio of 2.00 and a current ratio of 2.00.

RadNet (NASDAQ:RDNT) last issued its quarterly earnings data on Sunday, November 9th. The medical research company reported $0.20 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.23 by ($0.03). RadNet had a positive return on equity of 2.41% and a negative net margin of 0.78%.The company had revenue of $522.87 million for the quarter, compared to analyst estimates of $494.19 million. During the same quarter last year, the business earned $0.18 earnings per share. The company’s revenue was up 13.4% on a year-over-year basis. On average, sell-side analysts predict that RadNet, Inc. will post 0.56 earnings per share for the current year.

Institutional Investors Weigh In On RadNet

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Smartleaf Asset Management LLC lifted its stake in RadNet by 13.3% in the 3rd quarter. Smartleaf Asset Management LLC now owns 1,361 shares of the medical research company’s stock valued at $102,000 after purchasing an additional 160 shares during the last quarter. Jones Financial Companies Lllp grew its stake in shares of RadNet by 62.2% during the third quarter. Jones Financial Companies Lllp now owns 446 shares of the medical research company’s stock worth $34,000 after buying an additional 171 shares during the last quarter. Guidance Capital Inc. increased its holdings in shares of RadNet by 2.0% during the third quarter. Guidance Capital Inc. now owns 9,089 shares of the medical research company’s stock worth $758,000 after buying an additional 174 shares in the last quarter. Xponance Inc. lifted its stake in shares of 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 last quarter. Finally, Zions Bancorporation National Association UT lifted its stake in shares of RadNet by 0.6% in the 2nd quarter. Zions Bancorporation National Association UT now owns 35,081 shares of the medical research company’s stock valued at $1,996,000 after acquiring an additional 204 shares during the last quarter. 77.90% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research firms have weighed in on RDNT. Weiss Ratings reiterated a “sell (d)” rating on shares of RadNet in a research report on Wednesday, October 8th. Wall Street Zen upgraded shares of RadNet from a “sell” rating to a “hold” rating in a research report on Saturday, August 16th. Truist Financial lifted their price objective on RadNet from $81.00 to $90.00 and gave the company a “buy” rating in a report on Wednesday, November 12th. Zacks Research downgraded RadNet from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, November 12th. Finally, Barclays raised their price target on RadNet from $79.00 to $86.00 and gave the stock an “overweight” rating in a research report on Thursday, November 13th. Two equities research analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $84.00.

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.