RadNet, Inc. (NASDAQ:RDNT) Short Interest Update

RadNet, Inc. (NASDAQ:RDNT - Get Free Report) was the target of a significant growth in short interest in January. As of January 31st, there was short interest totalling 5,760,000 shares, a growth of 18.8% from the January 15th total of 4,850,000 shares. Based on an average daily trading volume, of 670,300 shares, the days-to-cover ratio is presently 8.6 days.

Insider Activity at RadNet

In other news, EVP David Jeffrey Katz sold 12,300 shares of RadNet stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $81.65, for a total transaction of $1,004,295.00. Following the sale, the executive vice president now directly owns 62,909 shares of the company's stock, valued at approximately $5,136,519.85. This trade represents a 16.35 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 5.12% of the stock is currently owned by insiders.

Hedge Funds Weigh In On RadNet

A number of institutional investors and hedge funds have recently modified their holdings of RDNT. Norges Bank bought a new position in shares of RadNet during the 4th quarter worth approximately $56,381,000. Raymond James Financial Inc. bought a new position in shares of RadNet during the 4th quarter worth approximately $33,090,000. T. Rowe Price Investment Management Inc. boosted its holdings in shares of RadNet by 79.3% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 913,691 shares of the medical research company's stock worth $63,813,000 after buying an additional 404,241 shares in the last quarter. Portolan Capital Management LLC boosted its holdings in shares of RadNet by 384.8% during the 3rd quarter. Portolan Capital Management LLC now owns 491,358 shares of the medical research company's stock worth $34,095,000 after buying an additional 390,011 shares in the last quarter. Finally, Tidal Investments LLC boosted its holdings in shares of RadNet by 7,219.2% during the 4th quarter. Tidal Investments LLC now owns 389,308 shares of the medical research company's stock worth $27,189,000 after buying an additional 383,989 shares in the last quarter. 77.90% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

RDNT has been the topic of a number of recent research reports. Truist Financial reissued a "buy" rating and set a $88.00 price target (down from $94.00) on shares of RadNet in a research note on Wednesday, January 22nd. Barclays cut their price target on RadNet from $85.00 to $74.00 and set an "overweight" rating on the stock in a research note on Wednesday, January 22nd. Finally, Jefferies Financial Group cut their price objective on RadNet from $100.00 to $80.00 and set a "buy" rating on the stock in a research note on Wednesday, January 15th. One equities research analyst has rated the stock with a sell rating, four have assigned a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $75.50.

RadNet Trading Up 3.2 %

RDNT stock traded up $1.97 during trading on Wednesday, hitting $63.43. The company had a trading volume of 246,755 shares, compared to its average volume of 764,666. The business has a 50-day moving average of $68.37 and a 200-day moving average of $69.08. RadNet has a one year low of $36.47 and a one year high of $93.65. The stock has a market cap of $4.70 billion, a PE ratio of -905.94 and a beta of 1.79. The company has a current ratio of 2.16, a quick ratio of 2.16 and a debt-to-equity ratio of 0.89.

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.