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David Swartz, a director at RadNet , Inc. (NASDAQ:RDNT), a $3.65 billion medical diagnostic imaging services provider, sold 25,000 shares of the company’s common stock on March 7, according to a recent SEC filing. The stock, which InvestingPro analysis indicates is trading above its Fair Value, has declined nearly 30% year-to-date. The shares were sold at a weighted average price of $50.84, totaling approximately $1.27 million. Following this transaction, Swartz holds 174,067 shares directly, with an additional 37,019 shares held indirectly by his spouse. The shares were sold in multiple transactions, with prices ranging from $50.12 to $51.36. With a notably high P/E ratio of 1,290 and significant price volatility, investors seeking deeper insights into insider trading patterns and valuation metrics can access comprehensive analysis through InvestingPro’s detailed research reports.
In other recent news, RadNet released its fourth-quarter 2024 earnings report, showing a 13.5% increase in revenue to $477.1 million. However, the company’s earnings per share (EPS) of $0.07 fell short of the forecasted $0.20, missing expectations by 65%. Despite the revenue growth, RadNet’s stock experienced a decline following the announcement. The Digital Health segment saw significant growth, with revenues up by 28.1%, indicating strong performance in this area. Analysts from Raymond (NSE:RYMD) James upgraded RadNet’s stock rating to Strong Buy, citing an appealing valuation of its AI division, despite reducing the price target to $65 from $85. Meanwhile, Jefferies maintained a Buy rating on RadNet, although it adjusted the price target to $76 from $80, attributing the change to non-recurring issues like adverse weather conditions. RadNet’s management has projected Digital Health revenue to grow by 30% in 2025, with plans to expand its digital health infrastructure. The company’s substantial cash reserves, exceeding $700 million, position it well for future mergers and acquisitions.
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