Norman R. Hames Sells 5,536 Shares of RadNet, Inc. (NASDAQ:RDNT) Stock

RadNet, Inc. (NASDAQ:RDNT) COO Norman R. Hames sold 5,536 shares of the stock in a transaction on Thursday, May 15th. The stock was sold at an average price of $60.00, for a total value of $332,160.00. Following the transaction, the chief operating officer now owns 249,183 shares of the company’s stock, valued at $14,950,980. The trade was a 2.17% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link.

RadNet Stock Up 1.5%

Shares of NASDAQ RDNT opened at $61.14 on Friday. RadNet, Inc. has a 52 week low of $45.00 and a 52 week high of $93.65. The business has a 50-day simple moving average of $51.71 and a two-hundred day simple moving average of $63.16. The company has a quick ratio of 2.16, a current ratio of 2.16 and a debt-to-equity ratio of 0.89. The company has a market cap of $4.59 billion, a P/E ratio of -873.30 and a beta of 1.46.

RadNet (NASDAQ:RDNT) last released its quarterly earnings results on Thursday, February 27th. The medical research company reported $0.22 earnings per share for the quarter, beating the consensus estimate of $0.21 by $0.01. RadNet had a positive return on equity of 4.29% and a negative net margin of 0.25%. The firm had revenue of $477.10 million for the quarter, compared to analysts’ expectations of $459.42 million. Research analysts anticipate that RadNet, Inc. will post 0.56 earnings per share for the current fiscal year.

Institutional Trading of RadNet

Institutional investors and hedge funds have recently modified their holdings of the business. KBC Group NV raised its holdings in shares of RadNet by 47.6% in the 4th quarter. KBC Group NV now owns 2,678 shares of the medical research company’s stock valued at $187,000 after acquiring an additional 864 shares in the last quarter. Allspring Global Investments Holdings LLC raised its holdings in shares of RadNet by 30.4% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 1,475,995 shares of the medical research company’s stock valued at $103,532,000 after acquiring an additional 344,146 shares in the last quarter. WCM Investment Management LLC purchased a new stake in shares of RadNet in the 4th quarter valued at about $14,110,000. Guidance Capital Inc. purchased a new stake in shares of RadNet in the 4th quarter valued at about $467,000. Finally, Connective Portfolio Management LLC purchased a new stake in shares of RadNet in the 4th quarter valued at about $2,177,000. Hedge funds and other institutional investors own 77.90% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on RDNT. Barclays cut their price target on RadNet from $74.00 to $60.00 and set an “overweight” rating for the company in a research note on Monday, March 24th. StockNews.com upgraded RadNet to a “sell” rating in a research note on Monday, May 12th. Truist Financial cut their price target on RadNet from $88.00 to $74.00 and set a “buy” rating for the company in a research note on Friday, April 11th. Finally, Raymond James upgraded RadNet from an “outperform” rating to a “strong-buy” rating and cut their target price for the stock from $85.00 to $65.00 in a research note on Wednesday, March 5th. One 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 company’s stock. Based on data from MarketBeat, RadNet has a consensus rating of “Buy” and a consensus price target of $69.75.

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.