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

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

RadNet Price Performance

Shares of RDNT traded up $2.26 during midday trading on Wednesday, hitting $50.71. The company’s stock had a trading volume of 1,232,172 shares, compared to its average volume of 615,267. RadNet, Inc. has a one year low of $45.16 and a one year high of $93.65. The company’s fifty day simple moving average is $59.62 and its two-hundred day simple moving average is $67.70. The company has a quick ratio of 2.16, a current ratio of 2.16 and a debt-to-equity ratio of 0.89. The stock has a market capitalization of $3.75 billion, a price-to-earnings ratio of -724.33 and a beta of 1.85.

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

Analyst Ratings Changes

Several brokerages have weighed in on RDNT. Barclays dropped their price objective on RadNet from $85.00 to $74.00 and set an “overweight” rating for the company in a report on Wednesday, January 22nd. Jefferies Financial Group dropped their price objective on RadNet from $100.00 to $80.00 and set a “buy” rating for the company in a report on Wednesday, January 15th. Truist Financial reiterated a “buy” rating and issued a $88.00 price target (down previously from $94.00) on shares of RadNet in a research note on Wednesday, January 22nd. StockNews.com upgraded RadNet to a “sell” rating in a research note on Wednesday. Finally, Raymond James upgraded RadNet from an “outperform” rating to a “strong-buy” rating and decreased their price target for the company from $85.00 to $65.00 in a research note on Wednesday, March 5th. One equities research analyst has rated the stock with a sell rating, three have issued a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus price target of $76.75.

Institutional Investors Weigh In On RadNet

A number of hedge funds and other institutional investors have recently bought and sold shares of RDNT. USA Financial Formulas bought a new stake in RadNet during the 4th quarter worth $30,000. Fifth Third Bancorp grew its position in RadNet by 84.3% during the 4th quarter. Fifth Third Bancorp now owns 667 shares of the medical research company’s stock worth $47,000 after acquiring an additional 305 shares during the last quarter. Smartleaf Asset Management LLC grew its position in RadNet by 377.0% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,345 shares of the medical research company’s stock worth $96,000 after acquiring an additional 1,063 shares during the last quarter. Tower Research Capital LLC TRC grew its position in RadNet by 42.2% during the 4th quarter. Tower Research Capital LLC TRC now owns 1,422 shares of the medical research company’s stock worth $99,000 after acquiring an additional 422 shares during the last quarter. Finally, Canada Pension Plan Investment Board bought a new stake in RadNet during the 4th quarter worth $105,000. Institutional investors 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.