Investors Buy High Volume of RadNet Call Options (NASDAQ:RDNT)

RadNet, Inc. (NASDAQ:RDNT) was the target of some unusual options trading activity on Tuesday. Stock traders acquired 9,142 call options on the company. This represents an increase of 1,250% compared to the typical volume of 677 call options.

Insiders Place Their Bets

In other news, CAO Mital Patel sold 15,080 shares of the company’s stock in a transaction on Wednesday, November 19th. The stock was sold at an average price of $80.05, for a total transaction of $1,207,154.00. Following the transaction, the chief accounting officer directly owned 180,138 shares of the company’s stock, valued at $14,420,046.90. This represents a 7.72% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In the last three months, insiders have sold 50,000 shares of company stock worth $3,902,254. 5.60% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On RadNet

A number of institutional investors have recently bought and sold shares of RDNT. Allworth Financial LP lifted its position in shares of RadNet by 346.6% in the third quarter. Allworth Financial LP now owns 393 shares of the medical research company’s stock worth $30,000 after buying an additional 305 shares in the last quarter. Danske Bank A S purchased a new stake in shares of RadNet during the 3rd quarter worth approximately $30,000. Farther Finance Advisors LLC boosted its position in shares of RadNet by 1,086.5% during the 3rd quarter. Farther Finance Advisors LLC now owns 439 shares of the medical research company’s stock valued at $33,000 after acquiring an additional 402 shares during the last quarter. Jones Financial Companies Lllp increased its position in RadNet by 62.2% in the third quarter. Jones Financial Companies Lllp now owns 446 shares of the medical research company’s stock worth $34,000 after purchasing an additional 171 shares during the last quarter. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. purchased a new stake in shares of RadNet during the 2nd quarter valued at about $35,000. Hedge funds and other institutional investors own 77.90% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently commented on RDNT. B. Riley upped their price objective on RadNet from $71.00 to $87.00 and gave the company a “buy” rating in a research report on Monday, December 1st. Truist Financial upped their price target on shares of RadNet from $81.00 to $90.00 and gave the company a “buy” rating in a research report on Wednesday, November 12th. Weiss Ratings reiterated a “sell (d-)” rating on shares of RadNet in a research note on Monday, December 8th. Raymond James Financial restated a “strong-buy” rating and set a $95.00 target price on shares of RadNet in a research report on Friday, November 14th. Finally, Barclays increased their price target on shares of RadNet from $79.00 to $86.00 and gave the stock an “overweight” rating in a research report on Thursday, November 13th. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $87.60.

RadNet Stock Performance

NASDAQ RDNT traded down $4.56 on Tuesday, reaching $68.02. 1,582,349 shares of the stock were exchanged, compared to its average volume of 800,855. The company has a current ratio of 1.87, a quick ratio of 1.87 and a debt-to-equity ratio of 0.82. RadNet has a one year low of $45.00 and a one year high of $85.84. The firm has a market capitalization of $5.25 billion, a PE ratio of -399.77 and a beta of 1.48. The company’s 50-day simple moving average is $78.24 and its two-hundred day simple moving average is $68.78.

RadNet (NASDAQ:RDNT) last posted its quarterly earnings results on Monday, November 10th. The medical research company reported $0.20 earnings per share for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.03). The firm had revenue of $522.87 million during the quarter, compared to the consensus estimate of $494.19 million. RadNet had a positive return on equity of 2.52% and a negative net margin of 0.65%.The business’s revenue for the quarter was up 13.4% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.18 earnings per share. Analysts expect that RadNet will post 0.56 EPS for the current fiscal year.

RadNet Company Profile

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.