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 dated Monday, March 17th. The shares were sold at an average price of $49.79, for a total value of $248,950.00. Following the completion of the sale, the chief operating officer now directly owns 261,959 shares in the company, valued at approximately $13,042,938.61. This represents a 1.87 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

RadNet Stock Down 0.9 %

Shares of RDNT opened at $49.25 on Friday. The stock has a market cap of $3.65 billion, a price-to-earnings ratio of -703.47 and a beta of 1.85. The company has a quick ratio of 2.16, a current ratio of 2.16 and a debt-to-equity ratio of 0.89. RadNet, Inc. has a 12 month low of $45.82 and a 12 month high of $93.65. The company has a 50-day moving average price of $58.78 and a two-hundred day moving average price of $67.46.

RadNet (NASDAQ:RDNT) last announced its quarterly earnings results on Thursday, February 27th. The medical research company reported $0.22 EPS for the quarter, topping analysts’ consensus estimates 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 firm had revenue of $477.10 million during the quarter, compared to analysts’ expectations of $459.42 million. Equities analysts predict that RadNet, Inc. will post 0.56 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the company. USA Financial Formulas bought a new position in shares of RadNet in the fourth quarter valued at approximately $30,000. Fifth Third Bancorp raised its stake in shares of RadNet by 84.3% in the fourth quarter. Fifth Third Bancorp now owns 667 shares of the medical research company’s stock valued at $47,000 after acquiring an additional 305 shares during the last quarter. Smartleaf Asset Management LLC raised its position in RadNet by 377.0% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,345 shares of the medical research company’s stock worth $96,000 after purchasing an additional 1,063 shares during the last quarter. Tower Research Capital LLC TRC raised its position in RadNet by 42.2% in the 4th quarter. Tower Research Capital LLC TRC now owns 1,422 shares of the medical research company’s stock worth $99,000 after purchasing an additional 422 shares during the last quarter. Finally, Canada Pension Plan Investment Board bought a new position in RadNet in the 4th quarter worth approximately $105,000. Institutional investors own 77.90% of the company’s stock.

Analyst Ratings Changes

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

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.