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

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

RadNet Price Performance

Shares of NASDAQ RDNT opened at $50.71 on Thursday. RadNet, Inc. has a 1-year low of $45.16 and a 1-year high of $93.65. 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 cap of $3.75 billion, a P/E ratio of -724.33 and a beta of 1.85. The business’s 50 day moving average is $59.62 and its 200-day moving average is $67.70.

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 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 business had revenue of $477.10 million during the quarter, compared to analysts’ expectations of $459.42 million. Equities research analysts predict that RadNet, Inc. will post 0.56 earnings per share for the current year.

Hedge Funds Weigh In On RadNet

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Franklin Resources Inc. increased its position in shares of RadNet by 12.0% in the third quarter. Franklin Resources Inc. now owns 387,061 shares of the medical research company’s stock worth $27,334,000 after purchasing an additional 41,381 shares during the period. KBC Group NV boosted its position in shares of RadNet by 47.6% during the 4th quarter. KBC Group NV now owns 2,678 shares of the medical research company’s stock worth $187,000 after acquiring an additional 864 shares in the last quarter. Pathstone Holdings LLC increased its stake in RadNet by 58.5% in the third quarter. Pathstone Holdings LLC now owns 27,503 shares of the medical research company’s stock valued at $1,908,000 after acquiring an additional 10,151 shares during the last quarter. Allspring Global Investments Holdings LLC lifted its stake in RadNet by 30.4% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 1,475,995 shares of the medical research company’s stock worth $103,532,000 after purchasing an additional 344,146 shares during the last quarter. Finally, JPMorgan Chase & Co. lifted its stake in RadNet by 1.4% during the third quarter. JPMorgan Chase & Co. now owns 132,997 shares of the medical research company’s stock worth $9,229,000 after purchasing an additional 1,838 shares during the last quarter. 77.90% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

RDNT has been the subject of a number of analyst reports. Raymond James raised shares of RadNet from an “outperform” rating to a “strong-buy” rating and decreased their target price for the company from $85.00 to $65.00 in a research report on Wednesday, March 5th. Truist Financial reiterated a “buy” rating and set a $88.00 target price (down previously from $94.00) on shares of RadNet in a report on Wednesday, January 22nd. Barclays decreased their price target on 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 cut 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. Finally, StockNews.com raised shares of RadNet to a “sell” rating in a research report on Wednesday. One analyst has rated the stock with a sell rating, three have assigned a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus 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.