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

RadNet, Inc. (NASDAQ:RDNT) insider Ranjan Jayanathan sold 38,557 shares of the company’s stock in a transaction that occurred on Tuesday, November 19th. The shares were sold at an average price of $80.00, for a total value of $3,084,560.00. Following the transaction, the insider now directly owns 192,724 shares in the company, valued at approximately $15,417,920. This represents a 16.67 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link.

RadNet Stock Performance

Shares of RadNet stock opened at $82.04 on Friday. The company has a current ratio of 2.16, a quick ratio of 2.16 and a debt-to-equity ratio of 0.89. The stock’s fifty day moving average price is $70.73 and its 200-day moving average price is $63.83. The firm has a market cap of $6.07 billion, a P/E 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.

Analyst Upgrades and Downgrades

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

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in RDNT. Covestor Ltd boosted its stake in shares of RadNet by 10,875.0% during the third quarter. Covestor Ltd now owns 439 shares of the medical research company’s stock valued at $30,000 after purchasing an additional 435 shares in the last quarter. Nisa Investment Advisors LLC boosted its position in RadNet by 774.2% during the 2nd quarter. Nisa Investment Advisors LLC now owns 848 shares of the medical research company’s stock valued at $50,000 after acquiring an additional 751 shares in the last quarter. GAMMA Investing LLC increased its holdings in shares of RadNet by 74.7% in the 2nd quarter. GAMMA Investing LLC now owns 865 shares of the medical research company’s stock valued at $51,000 after acquiring an additional 370 shares during the period. Highline Wealth Partners LLC purchased a new position in shares of RadNet in the 3rd quarter valued at $68,000. Finally, Peterson Financial Group Inc. bought a new position in shares of RadNet in the 3rd quarter worth $90,000. Hedge funds and other institutional investors own 77.90% of the company’s stock.

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.