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

RadNet, Inc. (NASDAQ:RDNT) COO Norman R. Hames sold 5,000 shares of RadNet stock in a transaction 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 transaction, the chief operating officer now directly owns 261,959 shares of the company’s stock, valued at $13,042,938.61. The trade was a 1.87 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website.

RadNet Price Performance

Shares of RDNT stock traded up $2.26 on Wednesday, reaching $50.71. 1,232,172 shares of the company were exchanged, compared to its average volume of 615,267. The company 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 1 year low of $45.16 and a 1 year high of $93.65. The business has a 50-day moving average price of $59.62 and a 200 day moving average price of $67.70. The company has a debt-to-equity ratio of 0.89, a quick ratio of 2.16 and a current ratio of 2.16.

RadNet (NASDAQ:RDNT) last posted its quarterly earnings results 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 firm had revenue of $477.10 million for the quarter, compared to analyst estimates of $459.42 million. RadNet had a negative net margin of 0.25% and a positive return on equity of 4.29%. Equities research analysts forecast that RadNet, Inc. will post 0.56 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research firms have weighed in on RDNT. Raymond James raised shares of RadNet from an “outperform” rating to a “strong-buy” rating and cut their price objective for the company from $85.00 to $65.00 in a report on Wednesday, March 5th. Barclays cut their price objective 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. Truist Financial reissued 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. StockNews.com raised shares of RadNet to a “sell” rating in a research note on Wednesday. Finally, Jefferies Financial Group cut 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. One equities research 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 stock. According to MarketBeat.com, the company has a consensus rating of “Buy” and an average target price of $76.75.

Hedge Funds Weigh In On RadNet

Institutional investors and hedge funds have recently bought and sold shares of the business. Norges Bank acquired a new position in RadNet in the 4th quarter valued at about $56,381,000. Raymond James Financial Inc. acquired a new position in RadNet in the 4th quarter valued at about $33,090,000. T. Rowe Price Investment Management Inc. boosted its holdings in RadNet by 79.3% in the 4th 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 last quarter. Portolan Capital Management LLC boosted its holdings in RadNet by 384.8% in the 3rd 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 last quarter. Finally, Tidal Investments LLC boosted its holdings in RadNet by 7,219.2% in the 4th 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 last quarter. 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.