Ranjan Jayanathan Sells 38,557 Shares of RadNet, Inc. (NASDAQ:RDNT) Stock

RadNet, Inc. (NASDAQ:RDNT) insider Ranjan Jayanathan sold 38,557 shares of RadNet stock in a transaction 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 transaction, the insider now directly 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 Securities & Exchange Commission, which is available through this link.

RadNet Stock Down 0.3 %

Shares of NASDAQ:RDNT traded down $0.24 during midday trading on Friday, hitting $81.06. 48,303 shares of the company’s stock were exchanged, compared to its average volume of 551,187. The company has a debt-to-equity ratio of 0.89, a current ratio of 2.16 and a quick ratio of 2.16. The stock has a 50 day moving average price of $70.73 and a 200-day moving average price of $63.83. The company has a market cap of $6.00 billion, a PE ratio of -1,165.94 and a beta of 1.75. RadNet, Inc. has a 12 month low of $32.01 and a 12 month high of $93.65.

Institutional Investors Weigh In On RadNet

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Virtue Capital Management LLC increased its position in shares of RadNet by 1.4% during the third quarter. Virtue Capital Management LLC now owns 19,389 shares of the medical research company’s stock worth $1,345,000 after acquiring an additional 264 shares in the last quarter. Geode Capital Management LLC boosted its holdings in RadNet by 0.8% during the third quarter. Geode Capital Management LLC now owns 1,555,214 shares of the medical research company’s stock worth $107,936,000 after purchasing an additional 11,613 shares during the last quarter. Barclays PLC boosted its holdings in RadNet by 373.8% during the third quarter. Barclays PLC now owns 116,978 shares of the medical research company’s stock worth $8,118,000 after purchasing an additional 92,291 shares during the last quarter. Main Management ETF Advisors LLC purchased a new position in RadNet during the third quarter worth about $969,000. Finally, Wolverine Trading LLC boosted its holdings in RadNet by 28.6% during the third quarter. Wolverine Trading LLC now owns 4,502 shares of the medical research company’s stock worth $312,000 after purchasing an additional 1,002 shares during the last quarter. 77.90% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on RDNT. Truist Financial lifted their price target on shares of RadNet from $70.00 to $80.00 and gave the company a “buy” rating in a research note on Monday, September 23rd. Barclays raised shares of RadNet from an “equal weight” rating to an “overweight” rating and lifted their price target for the company from $57.00 to $79.00 in a research note on Friday, September 6th. Jefferies Financial Group lifted their price target on shares of RadNet from $75.00 to $80.00 and gave the company a “buy” rating in a research note on Thursday, September 19th. Finally, Sidoti raised shares of RadNet to a “strong-buy” rating in a research note on Friday, October 4th. One analyst has rated the stock with a sell rating, four have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $74.75.

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.