Insider Selling: RadNet, Inc. (NASDAQ:RDNT) Director Sells 35,594 Shares of Stock

RadNet, Inc. (NASDAQ:RDNT) Director Marvin S. Cadwell sold 35,594 shares of RadNet stock in a transaction that occurred on Tuesday, March 13th. The shares were sold at an average price of $12.58, for a total transaction of $447,772.52. Following the completion of the sale, the director now owns 266,384 shares in the company, valued at $3,351,110.72. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Shares of NASDAQ:RDNT traded down $0.15 during midday trading on Friday, hitting $14.40. The stock had a trading volume of 333,855 shares, compared to its average volume of 501,945. RadNet, Inc. has a 12 month low of $5.65 and a 12 month high of $14.55. The company has a current ratio of 1.23, a quick ratio of 1.23 and a debt-to-equity ratio of 8.22. The stock has a market capitalization of $694.54, a PE ratio of 49.66, a P/E/G ratio of 3.33 and a beta of 0.39.

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RadNet (NASDAQ:RDNT) last released its earnings results on Thursday, March 8th. The medical research company reported $0.13 earnings per share for the quarter, missing the consensus estimate of $0.14 by ($0.01). RadNet had a net margin of 0.01% and a return on equity of 26.01%. The firm had revenue of $235.50 million during the quarter, compared to the consensus estimate of $228.46 million. During the same period in the prior year, the business posted $0.08 earnings per share. RadNet’s quarterly revenue was up 4.7% compared to the same quarter last year. equities analysts predict that RadNet, Inc. will post 0.54 earnings per share for the current fiscal year.

A number of hedge funds have recently added to or reduced their stakes in the business. Wells Fargo & Company MN boosted its position in RadNet by 1.9% during the second quarter. Wells Fargo & Company MN now owns 35,843 shares of the medical research company’s stock worth $278,000 after purchasing an additional 654 shares during the period. The Manufacturers Life Insurance Company boosted its position in RadNet by 6.4% during the second quarter. The Manufacturers Life Insurance Company now owns 33,305 shares of the medical research company’s stock worth $258,000 after purchasing an additional 1,997 shares during the period. Voya Investment Management LLC boosted its position in RadNet by 19.5% during the second quarter. Voya Investment Management LLC now owns 21,726 shares of the medical research company’s stock worth $168,000 after purchasing an additional 3,546 shares during the period. Bank of New York Mellon Corp boosted its position in RadNet by 4.9% during the third quarter. Bank of New York Mellon Corp now owns 136,229 shares of the medical research company’s stock worth $1,574,000 after purchasing an additional 6,380 shares during the period. Finally, Cornerstone Capital Management Holdings LLC. boosted its position in RadNet by 3.6% during the fourth quarter. Cornerstone Capital Management Holdings LLC. now owns 193,600 shares of the medical research company’s stock worth $1,954,000 after purchasing an additional 6,700 shares during the period. 55.82% of the stock is owned by hedge funds and other institutional investors.

A number of analysts have recently issued reports on RDNT shares. Zacks Investment Research upgraded shares of RadNet from a “hold” rating to a “buy” rating and set a $11.00 price objective on the stock in a report on Thursday, January 4th. BidaskClub raised shares of RadNet from a “sell” rating to a “hold” rating in a research note on Saturday, January 6th. Raymond James Financial began coverage on shares of RadNet in a research note on Wednesday, March 14th. They issued a “strong-buy” rating and a $15.00 target price for the company. Jefferies Group set a $14.00 target price on shares of RadNet and gave the company a “buy” rating in a research note on Thursday, March 8th. Finally, FIX began coverage on shares of RadNet in a research note on Wednesday, March 14th. They issued a “strong-buy” rating and a $15.00 target price for the company. Two research analysts have rated the stock with a buy rating and three have issued a strong buy rating to the stock. The stock presently has an average rating of “Strong Buy” and a consensus target price of $14.75.

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About RadNet

RadNet, Inc, together with its subsidiaries, provides outpatient diagnostic imaging services in the United States. 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.

Insider Buying and Selling by Quarter for RadNet (NASDAQ:RDNT)

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