Alma Gregory Sorensen Sells 15,000 Shares of RadNet (NASDAQ:RDNT) Stock

RadNet, Inc. (NASDAQ:RDNT) insider Alma Gregory Sorensen sold 15,000 shares of the company’s stock in a transaction that occurred on Wednesday, March 18th. The shares were sold at an average price of $62.15, for a total value of $932,250.00. Following the completion of the transaction, the insider directly owned 1,223,923 shares of the company’s stock, valued at approximately $76,066,814.45. This trade represents a 1.21% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

RadNet Price Performance

Shares of NASDAQ:RDNT opened at $62.64 on Friday. The firm has a market capitalization of $4.86 billion, a PE ratio of -250.56 and a beta of 1.49. The company has a current ratio of 1.76, a quick ratio of 1.76 and a debt-to-equity ratio of 0.79. RadNet, Inc. has a 1-year low of $45.00 and a 1-year high of $85.84. The business’s 50 day moving average is $69.13 and its 200-day moving average is $73.83.

RadNet (NASDAQ:RDNT) last issued its earnings results on Monday, March 2nd. The medical research company reported $0.23 EPS for the quarter, beating analysts’ consensus estimates of $0.19 by $0.04. The business had revenue of $547.71 million during the quarter, compared to analyst estimates of $515.67 million. RadNet had a positive return on equity of 2.52% and a negative net margin of 0.91%.RadNet’s revenue was up 14.8% on a year-over-year basis. During the same period in the prior year, the company posted $0.22 earnings per share. Sell-side analysts predict that RadNet, Inc. will post 0.56 earnings per share for the current year.

Analyst Ratings Changes

A number of equities analysts have recently commented on RDNT shares. Truist Financial set a $90.00 price objective on shares of RadNet in a report on Wednesday, December 17th. Raymond James Financial reissued a “strong-buy” rating on shares of RadNet in a research report on Thursday, December 18th. Jefferies Financial Group restated a “buy” rating and set a $91.00 price target on shares of RadNet in a research note on Tuesday, March 3rd. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of RadNet in a report on Monday, December 29th. Finally, UBS Group set a $92.00 price objective on RadNet in a research note on Friday, January 9th. Two analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $90.43.

Institutional Investors Weigh In On RadNet

A number of hedge funds have recently made changes to their positions in the company. Geneos Wealth Management Inc. bought a new position in RadNet during the 4th quarter valued at about $25,000. Allworth Financial LP increased its holdings in shares of RadNet by 346.6% during the third quarter. Allworth Financial LP now owns 393 shares of the medical research company’s stock worth $30,000 after buying an additional 305 shares in the last quarter. Danske Bank A S acquired a new stake in shares of RadNet during the third quarter worth approximately $30,000. Farther Finance Advisors LLC raised its stake in shares of RadNet by 1,086.5% in the third quarter. Farther Finance Advisors LLC now owns 439 shares of the medical research company’s stock valued at $33,000 after acquiring an additional 402 shares during the last quarter. Finally, Jones Financial Companies Lllp raised its stake in shares of RadNet by 62.2% in the third quarter. Jones Financial Companies Lllp now owns 446 shares of the medical research company’s stock valued at $34,000 after acquiring an additional 171 shares during the last quarter. Institutional investors and hedge funds own 77.90% of the company’s stock.

About RadNet

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.