RadNet, Inc. (NASDAQ:RDNT) COO Sells $174,660.00 in Stock

RadNet, Inc. (NASDAQ:RDNT) COO Norman R. Hames sold 2,911 shares of the stock in a transaction on Thursday, May 15th. The shares were sold at an average price of $60.00, for a total transaction of $174,660.00. Following the completion of the transaction, the chief operating officer now directly owns 24,889 shares in the company, valued at $1,493,340. This trade represents a 10.47% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

RadNet Trading Up 1.5%

Shares of RadNet stock opened at $61.14 on Friday. RadNet, Inc. has a 1 year low of $45.00 and a 1 year high of $93.65. The company has a market capitalization of $4.59 billion, a P/E ratio of -873.30 and a beta of 1.46. 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 company’s fifty day moving average is $51.71 and its two-hundred day moving average is $63.14.

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

Institutional Trading of RadNet

Hedge funds have recently made changes to their positions in the company. Headlands Technologies LLC acquired a new stake in shares of RadNet in the 1st quarter worth $28,000. USA Financial Formulas acquired a new stake in shares of RadNet in the 4th quarter worth $30,000. Fifth Third Bancorp lifted its stake 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 worth $47,000 after acquiring an additional 305 shares during the period. GAMMA Investing LLC lifted its stake in shares of RadNet by 22.3% in the 1st quarter. GAMMA Investing LLC now owns 1,644 shares of the medical research company’s stock worth $82,000 after acquiring an additional 300 shares during the period. Finally, Jones Financial Companies Lllp lifted its stake in shares of RadNet by 563.4% in the 1st quarter. Jones Financial Companies Lllp now owns 1,705 shares of the medical research company’s stock worth $85,000 after acquiring an additional 1,448 shares during the period. Institutional investors and hedge funds own 77.90% of the company’s stock.

Analyst Ratings Changes

Several brokerages have issued reports on RDNT. Barclays lowered their price objective on shares of RadNet from $74.00 to $60.00 and set an “overweight” rating on the stock in a research report on Monday, March 24th. StockNews.com raised shares of RadNet to a “sell” rating in a research report on Monday, May 12th. Raymond James raised shares of RadNet from an “outperform” rating to a “strong-buy” rating and lowered their price objective for the stock from $85.00 to $65.00 in a research report on Wednesday, March 5th. Finally, Truist Financial lowered their price objective on shares of RadNet from $88.00 to $74.00 and set a “buy” rating on the stock in a research report on Friday, April 11th. One investment analyst has rated the stock with a sell rating, three have given a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Buy” and an average price target of $69.75.

About RadNet

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.