RadNet, Inc. (NASDAQ:RDNT) COO Sells $332,160.00 in Stock

RadNet, Inc. (NASDAQ:RDNT) COO Norman R. Hames sold 5,536 shares of the company’s stock in a transaction on Thursday, May 15th. The shares were sold at an average price of $60.00, for a total value of $332,160.00. Following the transaction, the chief operating officer now directly owns 249,183 shares in the company, valued at $14,950,980. This represents a 2.17% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

RadNet Price Performance

NASDAQ:RDNT opened at $60.26 on Friday. RadNet, Inc. has a 52-week low of $45.00 and a 52-week high of $93.65. The stock has a fifty day moving average of $51.47 and a 200 day moving average of $63.21. 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 has a market capitalization of $4.52 billion, a price-to-earnings ratio of -860.73 and a beta of 1.46.

RadNet (NASDAQ:RDNT) last posted 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 company had revenue of $477.10 million for the quarter, compared to analysts’ expectations of $459.42 million. On average, research analysts expect that RadNet, Inc. will post 0.56 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts have weighed in on RDNT shares. Barclays cut their target price on shares of RadNet from $74.00 to $60.00 and set an “overweight” rating for the company in a research report on Monday, March 24th. Raymond James raised shares of RadNet from an “outperform” rating to a “strong-buy” rating and cut their price objective for the stock from $85.00 to $65.00 in a report on Wednesday, March 5th. Truist Financial lowered their target price on shares of RadNet from $88.00 to $74.00 and set a “buy” rating on the stock in a report on Friday, April 11th. Finally, StockNews.com raised RadNet to a “sell” rating in a report on Monday. One investment analyst has rated the stock with a sell rating, three have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat, RadNet currently has an average rating of “Buy” and a consensus price target of $69.75.

Institutional Trading of RadNet

Hedge funds have recently made changes to their positions in the stock. Barclays PLC increased its stake in RadNet by 373.8% in the third quarter. Barclays PLC now owns 116,978 shares of the medical research company’s stock valued at $8,118,000 after acquiring an additional 92,291 shares during the last quarter. USA Financial Formulas purchased a new position in shares of RadNet in the 4th quarter worth about $30,000. Connective Portfolio Management LLC bought a new position in shares of RadNet during the 4th quarter valued at about $2,177,000. Nisa Investment Advisors LLC raised its holdings in shares of RadNet by 20.0% during the 4th quarter. Nisa Investment Advisors LLC now owns 4,291 shares of the medical research company’s stock valued at $300,000 after buying an additional 716 shares in the last quarter. Finally, Fifth Third Bancorp raised its holdings in shares of RadNet by 84.3% during the 4th quarter. Fifth Third Bancorp now owns 667 shares of the medical research company’s stock valued at $47,000 after buying an additional 305 shares in the last quarter. 77.90% of the stock is owned by institutional investors.

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.