RadNet (NASDAQ:RDNT) Stock Crosses Above 200-Day Moving Average - Should You Sell?

RadNet, Inc. (NASDAQ:RDNT - Get Free Report) shares passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $68.12 and traded as high as $73.24. RadNet shares last traded at $72.75, with a volume of 522,587 shares trading hands.

Analysts Set New Price Targets

A number of research analysts recently weighed in on RDNT shares. Sidoti raised RadNet to a "strong-buy" rating in a research note on Friday, October 4th. Barclays boosted their price objective on RadNet from $79.00 to $85.00 and gave the company an "overweight" rating in a report on Wednesday, December 4th. Jefferies Financial Group increased their target price on RadNet from $82.00 to $100.00 and gave the stock a "buy" rating in a report on Thursday, December 5th. Finally, Truist Financial boosted their price target on shares of RadNet from $80.00 to $94.00 and gave the company a "buy" rating in a research note on Friday, November 29th. One investment analyst has rated the stock with a sell rating, four have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, RadNet currently has a consensus rating of "Moderate Buy" and an average target price of $84.75.

RadNet Price Performance

The firm has a market cap of $5.36 billion, a P/E ratio of -1,034.57 and a beta of 1.79. The company has a fifty day moving average of $76.07 and a 200-day moving average of $68.12. The company has a debt-to-equity ratio of 0.89, a current ratio of 2.16 and a quick ratio of 2.16.

Insider Activity at RadNet

In related news, insider Ranjan Jayanathan sold 38,557 shares of the stock in a transaction that occurred on Tuesday, November 19th. The stock was sold at an average price of $80.00, for a total transaction of $3,084,560.00. Following the completion of the sale, the insider now directly owns 192,724 shares of the company's stock, valued at approximately $15,417,920. This trade represents a 16.67 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP David Jeffrey Katz sold 12,300 shares of the company's stock in a transaction 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 transaction, the executive vice president now owns 62,909 shares of the company's stock, valued at $5,136,519.85. This trade represents a 16.35 % decrease in their position. The disclosure for this sale can be found here. 5.12% of the stock is owned by insiders.

Hedge Funds Weigh In On RadNet

A number of hedge funds and other institutional investors have recently made changes to their positions in RDNT. Covestor Ltd raised its position in RadNet by 10,875.0% in the third quarter. Covestor Ltd now owns 439 shares of the medical research company's stock worth $30,000 after acquiring an additional 435 shares during the period. Highline Wealth Partners LLC purchased a new stake in shares of RadNet during the 3rd quarter worth approximately $68,000. Peterson Financial Group Inc. bought a new stake in shares of RadNet in the 3rd quarter worth approximately $90,000. GAMMA Investing LLC lifted its stake in RadNet by 57.3% in the third quarter. GAMMA Investing LLC now owns 1,361 shares of the medical research company's stock valued at $94,000 after purchasing an additional 496 shares during the last quarter. Finally, Profund Advisors LLC bought a new position in RadNet during the second quarter valued at $207,000. 77.90% of the stock is owned by hedge funds and other institutional investors.

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.