Insider Selling: RadNet Inc. (NASDAQ:RDNT) Insider Sells 21,667 Shares of Stock

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RadNet Inc. (NASDAQ:RDNT) insider Michael N. Murdock sold 21,667 shares of the company’s stock in a transaction on Thursday, June 13th. The shares were sold at an average price of $13.23, for a total transaction of $286,654.41. Following the sale, the insider now directly owns 100,575 shares in the company, valued at approximately $1,330,607.25. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

Shares of RDNT stock traded down $0.17 on Friday, reaching $13.18. 175,035 shares of the company were exchanged, compared to its average volume of 265,182. The stock has a market capitalization of $660.07 million, a PE ratio of 19.97, a price-to-earnings-growth ratio of 4.91 and a beta of 1.05. The company has a debt-to-equity ratio of 4.74, a current ratio of 0.72 and a quick ratio of 0.72. RadNet Inc. has a one year low of $9.97 and a one year high of $16.54.

RadNet (NASDAQ:RDNT) last released its quarterly earnings data on Thursday, May 9th. The medical research company reported ($0.08) earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of ($0.08). The company had revenue of $271.50 million for the quarter, compared to analysts’ expectations of $256.30 million. RadNet had a net margin of 3.53% and a return on equity of 22.38%. The business’s revenue was up 17.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($0.15) EPS. On average, analysts anticipate that RadNet Inc. will post 0.35 earnings per share for the current fiscal year.

Several hedge funds have recently added to or reduced their stakes in the company. US Bancorp DE bought a new position in RadNet in the 1st quarter valued at about $31,000. Quantamental Technologies LLC bought a new position in RadNet in the 1st quarter valued at about $34,000. Financial Gravity Wealth Inc. bought a new position in RadNet in the 1st quarter valued at about $35,000. PNC Financial Services Group Inc. bought a new position in RadNet in the 4th quarter valued at about $36,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its position in RadNet by 157.8% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,624 shares of the medical research company’s stock valued at $37,000 after acquiring an additional 2,218 shares in the last quarter. 64.10% of the stock is currently owned by institutional investors.

A number of analysts have commented on RDNT shares. Zacks Investment Research raised shares of RadNet from a “sell” rating to a “hold” rating in a research report on Tuesday, March 5th. BidaskClub cut shares of RadNet from a “sell” rating to a “strong sell” rating in a research report on Wednesday, May 1st. Raymond James cut shares of RadNet from a “strong-buy” rating to an “outperform” rating and upped their price target for the company from $16.00 to $17.50 in a research report on Friday, March 15th. They noted that the move was a valuation call. ValuEngine cut shares of RadNet from a “buy” rating to a “hold” rating in a research report on Tuesday, March 19th. Finally, TheStreet raised shares of RadNet from a “c” rating to a “b-” rating in a research report on Friday, March 15th. Two analysts have rated the stock with a sell rating, one has issued a hold rating and one has given a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average target price of $17.75.

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RadNet Company Profile

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.

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

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