RadNet, Inc. (NASDAQ:RDNT) COO Norman R. Hames Sells 5,000 Shares

RadNet, Inc. (NASDAQ:RDNT) COO Norman R. Hames sold 5,000 shares of RadNet stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $49.79, for a total value of $248,950.00. Following the sale, the chief operating officer now directly owns 261,959 shares in the company, valued at approximately $13,042,938.61. The trade was a 1.87 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website.

RadNet Trading Up 4.7 %

NASDAQ RDNT opened at $50.71 on Thursday. The stock has a market cap of $3.75 billion, a price-to-earnings ratio of -724.33 and a beta of 1.85. RadNet, Inc. has a twelve month low of $45.16 and a twelve month 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 firm’s 50 day moving average price is $59.62 and its two-hundred day moving average price is $67.70.

RadNet (NASDAQ:RDNT) last released its quarterly earnings data 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 firm had revenue of $477.10 million during the quarter, compared to analysts’ expectations of $459.42 million. RadNet had a positive return on equity of 4.29% and a negative net margin of 0.25%. Equities analysts anticipate that RadNet, Inc. will post 0.56 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the stock. Norges Bank acquired a new stake in RadNet in the 4th quarter valued at approximately $56,381,000. Raymond James Financial Inc. acquired a new stake in shares of RadNet during the 4th quarter valued at about $33,090,000. T. Rowe Price Investment Management Inc. raised its position in RadNet by 79.3% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 913,691 shares of the medical research company’s stock worth $63,813,000 after purchasing an additional 404,241 shares in the last quarter. Portolan Capital Management LLC lifted its holdings in shares of 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 acquiring an additional 390,011 shares during the period. Finally, Tidal Investments LLC grew its stake 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 worth $27,189,000 after buying an additional 383,989 shares during the last quarter. 77.90% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

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

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.