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 RadNet stock in a transaction on Wednesday, March 19th. The stock was sold at an average price of $50.22, for a total transaction of $251,100.00. Following the completion of the transaction, the chief operating officer now directly owns 251,959 shares of the company’s stock, valued at $12,653,380.98. The trade was a 1.95 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

RadNet Price Performance

Shares of RDNT stock opened at $49.71 on Friday. RadNet, Inc. has a 52-week low of $45.82 and a 52-week 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 has a market capitalization of $3.68 billion, a P/E ratio of -710.04 and a beta of 1.85. The stock has a 50 day moving average price of $59.17 and a 200 day moving average price of $67.57.

RadNet (NASDAQ:RDNT) last released its quarterly earnings data on Thursday, February 27th. The medical research company reported $0.22 EPS for the quarter, topping the consensus estimate of $0.21 by $0.01. The company had revenue of $477.10 million for the quarter, compared to the consensus estimate of $459.42 million. RadNet had a positive return on equity of 4.29% and a negative net margin of 0.25%. As a group, sell-side analysts predict that RadNet, Inc. will post 0.56 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the company. HighTower Advisors LLC increased its holdings in shares of RadNet by 1.8% in the 3rd quarter. HighTower Advisors LLC now owns 7,861 shares of the medical research company’s stock valued at $545,000 after acquiring an additional 136 shares during the period. Highland Capital Management LLC increased its holdings in shares of RadNet by 6.5% in the 4th quarter. Highland Capital Management LLC now owns 3,307 shares of the medical research company’s stock valued at $231,000 after acquiring an additional 202 shares during the period. Summit Investment Advisors Inc. increased its holdings in shares of RadNet by 3.3% in the 4th quarter. Summit Investment Advisors Inc. now owns 6,917 shares of the medical research company’s stock valued at $483,000 after acquiring an additional 219 shares during the period. Summit Financial LLC increased its holdings in shares of RadNet by 2.4% in the 4th quarter. Summit Financial LLC now owns 11,111 shares of the medical research company’s stock valued at $776,000 after acquiring an additional 262 shares during the period. Finally, Virtue Capital Management LLC increased its holdings in shares of RadNet by 1.4% in the 3rd quarter. Virtue Capital Management LLC now owns 19,389 shares of the medical research company’s stock valued at $1,345,000 after acquiring an additional 264 shares during the period. 77.90% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on RDNT. Raymond James raised shares of RadNet from an “outperform” rating to a “strong-buy” rating and dropped their price objective for the stock from $85.00 to $65.00 in a research note on Wednesday, March 5th. Truist Financial reiterated a “buy” rating and set a $88.00 price target (down from $94.00) on shares of RadNet in a report on Wednesday, January 22nd. Barclays decreased their price objective on shares of 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 reduced their price target on RadNet from $100.00 to $80.00 and set a “buy” rating on the stock in a report on Wednesday, January 15th. Finally, StockNews.com raised RadNet to a “sell” rating in a research note on Wednesday. One equities 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 stock. According to MarketBeat.com, RadNet currently has a consensus rating of “Buy” and an average target price 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.