RadNet, Inc. (NASDAQ:RDNT) COO Sells $251,100.00 in Stock

RadNet, Inc. (NASDAQ:RDNT - Get Free Report) COO Norman R. Hames sold 5,000 shares of the business's 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 sale, the chief operating officer now owns 251,959 shares in the company, 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 SEC, which is accessible through this hyperlink.

RadNet Trading Down 0.9 %

Shares of NASDAQ:RDNT traded down $0.46 during trading on Friday, reaching $49.25. 1,319,962 shares of the stock were exchanged, compared to its average volume of 615,577. The company has a debt-to-equity ratio of 0.89, a quick ratio of 2.16 and a current ratio of 2.16. RadNet, Inc. has a 12-month low of $45.82 and a 12-month high of $93.65. The firm has a market cap of $3.65 billion, a price-to-earnings ratio of -703.47 and a beta of 1.85. The firm's 50-day moving average price is $58.78 and its 200 day moving average price is $67.53.

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

Remove Ads

Wall Street Analyst Weigh In

Several equities research analysts have commented on the stock. Truist Financial restated 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 shares of RadNet from an "outperform" rating to a "strong-buy" rating and cut their target price for the company from $85.00 to $65.00 in a research note on Wednesday, March 5th. Jefferies Financial Group cut their target price on shares of RadNet from $100.00 to $80.00 and set a "buy" rating for the company in a research note on Wednesday, January 15th. StockNews.com raised shares of RadNet to a "sell" rating in a research note on Wednesday. Finally, Barclays dropped 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. One research 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. Based on data from MarketBeat, RadNet currently has an average rating of "Buy" and an average target price of $76.75.

Hedge Funds Weigh In On RadNet

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. boosted its holdings in RadNet by 1.0% in the 4th quarter. Vanguard Group Inc. now owns 7,425,218 shares of the medical research company's stock worth $518,577,000 after acquiring an additional 71,910 shares during the period. State Street Corp boosted its holdings in RadNet by 1.3% in the 3rd quarter. State Street Corp now owns 2,446,179 shares of the medical research company's stock worth $169,740,000 after acquiring an additional 30,244 shares during the period. RTW Investments LP boosted its holdings in RadNet by 9.4% in the 4th quarter. RTW Investments LP now owns 1,978,582 shares of the medical research company's stock worth $138,184,000 after acquiring an additional 169,978 shares during the period. Invesco Ltd. boosted its holdings in RadNet by 4.3% in the 4th quarter. Invesco Ltd. now owns 1,731,074 shares of the medical research company's stock worth $120,898,000 after acquiring an additional 70,673 shares during the period. Finally, Geode Capital Management LLC boosted its stake in shares of RadNet by 0.8% during the 3rd quarter. Geode Capital Management LLC now owns 1,555,214 shares of the medical research company's stock valued at $107,936,000 after buying an additional 11,613 shares during the last quarter. Hedge funds and other institutional investors own 77.90% of the company's stock.

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.