RadNet, Inc. (NASDAQ:RDNT) EVP David Jeffrey Katz Sells 12,300 Shares

RadNet, Inc. (NASDAQ:RDNT) EVP David Jeffrey Katz sold 12,300 shares of RadNet stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $81.65, for a total value of $1,004,295.00. Following the completion of the sale, the executive vice president now directly owns 62,909 shares in the company, valued at approximately $5,136,519.85. This represents a 16.35 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website.

RadNet Stock Up 1.3 %

RDNT stock opened at $82.49 on Thursday. RadNet, Inc. has a 52 week low of $32.15 and a 52 week high of $93.65. The business has a 50-day simple moving average of $71.92 and a 200 day simple moving average of $64.72. The company has a quick ratio of 2.16, a current ratio of 2.16 and a debt-to-equity ratio of 0.89. The company has a market cap of $6.11 billion, a PE ratio of -1,178.26 and a beta of 1.75.

Hedge Funds Weigh In On RadNet

Several hedge funds and other institutional investors have recently made changes to their positions in RDNT. Allspring Global Investments Holdings LLC increased its stake in RadNet by 103.8% in the second quarter. Allspring Global Investments Holdings LLC now owns 1,011,974 shares of the medical research company’s stock valued at $59,626,000 after acquiring an additional 515,342 shares during the last quarter. Portolan Capital Management LLC boosted its holdings in shares of RadNet by 384.8% in the 3rd quarter. Portolan Capital Management LLC now owns 491,358 shares of the medical research company’s stock valued at $34,095,000 after purchasing an additional 390,011 shares in the last quarter. Vanguard Group Inc. raised its holdings in shares of RadNet by 8.1% during the 1st quarter. Vanguard Group Inc. now owns 4,600,539 shares of the medical research company’s stock worth $223,862,000 after buying an additional 345,822 shares in the last quarter. Harbor Capital Advisors Inc. raised its holdings in shares of RadNet by 130.5% during the 3rd quarter. Harbor Capital Advisors Inc. now owns 402,205 shares of the medical research company’s stock worth $27,909,000 after buying an additional 227,713 shares in the last quarter. Finally, Cerity Partners LLC lifted its position in shares of RadNet by 131.4% during the 3rd quarter. Cerity Partners LLC now owns 387,536 shares of the medical research company’s stock worth $26,891,000 after buying an additional 220,068 shares during the last quarter. 77.90% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

RDNT has been the subject of a number of recent research reports. Jefferies Financial Group increased their price objective on shares of RadNet from $75.00 to $80.00 and gave the stock a “buy” rating in a research note on Thursday, September 19th. Sidoti upgraded shares of RadNet to a “strong-buy” rating in a report on Friday, October 4th. Truist Financial increased their target price on RadNet from $70.00 to $80.00 and gave the stock a “buy” rating in a research note on Monday, September 23rd. Finally, Barclays upgraded shares of RadNet from an “equal weight” rating to an “overweight” rating and lifted their price objective for the stock from $57.00 to $79.00 in a research note on Friday, September 6th. One equities research analyst has rated the stock with a sell rating, four have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently 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.