RadNet, Inc. (NASDAQ:RDNT) COO Sells $248,950.00 in Stock

RadNet, Inc. (NASDAQ:RDNT) COO Norman R. Hames sold 5,000 shares of the firm’s stock in a transaction that occurred on Monday, March 17th. The shares were sold at an average price of $49.79, for a total transaction of $248,950.00. Following the completion of the sale, the chief operating officer now owns 261,959 shares of the company’s stock, valued at approximately $13,042,938.61. This trade represents a 1.87 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

RadNet Stock Performance

Shares of NASDAQ:RDNT traded up $2.26 on Wednesday, hitting $50.71. 1,232,172 shares of the company were exchanged, compared to its average volume of 615,267. RadNet, Inc. has a 1-year low of $45.16 and a 1-year high of $93.65. The stock’s 50 day moving average price is $59.62 and its 200 day moving average price is $67.70. The company has a current ratio of 2.16, a quick ratio of 2.16 and a debt-to-equity ratio of 0.89. The firm has a market capitalization of $3.75 billion, a P/E ratio of -724.33 and a beta of 1.85.

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

Analysts Set New Price Targets

Several brokerages have weighed in on RDNT. Truist Financial restated a “buy” rating and issued a $88.00 target price (down from $94.00) on shares of RadNet in a research note on Wednesday, January 22nd. Barclays lowered their target price on shares of RadNet from $85.00 to $74.00 and set an “overweight” rating for the company in a research note on Wednesday, January 22nd. Jefferies Financial Group lowered their target price on shares of RadNet from $100.00 to $80.00 and set a “buy” rating for the company in a research note on Wednesday, January 15th. Raymond James upgraded shares of RadNet from an “outperform” rating to a “strong-buy” rating and lowered their target price for the company from $85.00 to $65.00 in a research note on Wednesday, March 5th. Finally, StockNews.com upgraded shares of RadNet to a “sell” rating in a research note on Wednesday. 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.com, the company currently has an average rating of “Buy” and a consensus target price of $76.75.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in RDNT. Norges Bank acquired a new position in RadNet during the fourth quarter valued at $56,381,000. Raymond James Financial Inc. acquired a new position in RadNet during the fourth quarter valued at $33,090,000. T. Rowe Price Investment Management Inc. lifted its position in RadNet by 79.3% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 913,691 shares of the medical research company’s stock valued at $63,813,000 after purchasing an additional 404,241 shares during the period. Portolan Capital Management LLC lifted its position in RadNet by 384.8% during the third quarter. Portolan Capital Management LLC now owns 491,358 shares of the medical research company’s stock valued at $34,095,000 after purchasing an additional 390,011 shares during the period. Finally, Tidal Investments LLC lifted its position in RadNet by 7,219.2% during the fourth quarter. Tidal Investments LLC now owns 389,308 shares of the medical research company’s stock valued at $27,189,000 after purchasing an additional 383,989 shares during the period. 77.90% of the stock is currently owned by institutional investors and hedge funds.

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.