Vice President of Mergers & Acquisitions Michael Murdock sells 15,000 shares of RadNet Inc.

Michael Murdock, Executive Vice President of M&A at RadNet Inc (NASDAQ:RDNT), sold 15,000 shares of the company on August 21, 2024. The transaction was reported in a recent SEC filing. Following the sale, the insider now owns 48,144 shares of RadNet Inc.

RadNet Inc. operates as a national leader in providing high-quality, cost-effective diagnostic imaging services through a network of fully owned and operated outpatient imaging centers. The company’s core services include MRI, CT, and PET scans, as well as other radiology services.

Over the past year, Michael Murdock has sold a total of 35,115 shares and made no purchases of company shares. This latest transaction is part of a broader trend seen at RadNet Inc., where there have been 15 insider sales and no insider purchases over the past year.

RadNet Inc. shares were trading at $62.78 on the day of the sale. The company’s market capitalization is approximately $4.74 billion. RadNet Inc.’s price-to-earnings ratio is 457.71, significantly higher than the industry median and the company’s historical median.

The stock is currently considered significantly overvalued according to GuruFocus Value, with a GF Price-to-Value ratio of 2.31. The GF value of $27.13 was calculated based on historical trading multiples, an adjustment factor from GuruFocus, and analyst estimates of future business performance.

The sale may be of interest to investors who track insider trading as an indicator of the company’s future performance and adjust its valuation.

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This article originally appeared on GuruFocus.