RadNet, Inc. (NASDAQ:RDNT) COO Sells $251,100.00 in Stock

RadNet, Inc. (NASDAQ:RDNT) COO Norman R. Hames sold 5,000 shares of the business’s stock in a transaction on Wednesday, March 19th. The stock was sold at an average price of $50.22, for a total value of $251,100.00. Following the transaction, the chief operating officer now owns 251,959 shares in the company, valued at approximately $12,653,380.98. This trade represents a 1.95 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

RadNet Stock Performance

Shares of RDNT opened at $49.71 on Friday. The stock has a 50-day moving average of $59.17 and a two-hundred day moving average of $67.57. RadNet, Inc. has a one year low of $45.82 and a one year high of $93.65. The company has a debt-to-equity ratio of 0.89, a quick ratio of 2.16 and a current ratio of 2.16. The stock has a market cap of $3.68 billion, a P/E ratio of -710.04 and a beta of 1.85.

RadNet (NASDAQ:RDNT) last issued its quarterly earnings results on Thursday, February 27th. The medical research company reported $0.22 EPS for the quarter, topping analysts’ consensus estimates of $0.21 by $0.01. RadNet had a positive return on equity of 4.29% and a negative net margin of 0.25%. The company had revenue of $477.10 million during the quarter, compared to analysts’ expectations of $459.42 million. As a group, research analysts predict that RadNet, Inc. will post 0.56 EPS for the current year.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on RDNT. StockNews.com upgraded RadNet to a “sell” rating in a research note on Wednesday. Truist Financial restated a “buy” rating and set a $88.00 target price (down from $94.00) on shares of RadNet in a research note on Wednesday, January 22nd. Jefferies Financial Group dropped their target price on RadNet from $100.00 to $80.00 and set a “buy” rating on the stock in a research note on Wednesday, January 15th. Barclays dropped their target price 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, Raymond James raised RadNet from an “outperform” rating to a “strong-buy” rating and lowered their price target for the stock from $85.00 to $65.00 in a research report on Wednesday, March 5th. One investment analyst has rated the stock with a sell rating, three have issued a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Buy” and an average target price of $76.75.

Hedge Funds Weigh In On RadNet

Institutional investors and hedge funds have recently modified their holdings of the stock. USA Financial Formulas acquired a new position in shares of RadNet in the 4th quarter valued at about $30,000. Fifth Third Bancorp lifted its holdings in shares of RadNet by 84.3% in the 4th quarter. Fifth Third Bancorp now owns 667 shares of the medical research company’s stock valued at $47,000 after buying an additional 305 shares during the period. Smartleaf Asset Management LLC lifted its holdings in shares of RadNet by 377.0% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,345 shares of the medical research company’s stock valued at $96,000 after buying an additional 1,063 shares during the period. Tower Research Capital LLC TRC lifted its holdings in shares of RadNet by 42.2% in the 4th quarter. Tower Research Capital LLC TRC now owns 1,422 shares of the medical research company’s stock valued at $99,000 after buying an additional 422 shares during the period. Finally, Canada Pension Plan Investment Board acquired a new position in shares of RadNet in the 4th quarter valued at about $105,000. Institutional investors and hedge funds own 77.90% of the company’s stock.

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.