Insider Selling: RadNet, Inc. (NASDAQ:RDNT) COO Sells 5,000 Shares of Stock

RadNet, Inc. (NASDAQ:RDNT - Get Free Report) COO Norman R. Hames sold 5,000 shares of the firm's stock in a transaction on 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 owns 261,959 shares in the company, valued at $13,042,938.61. The trade was a 1.87 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link.

RadNet Trading Down 0.9 %

RDNT traded down $0.46 during trading on Friday, reaching $49.25. The company had a trading volume of 1,319,962 shares, compared to its average volume of 615,577. The firm's 50-day simple moving average is $58.78 and its 200 day simple moving average is $67.53. The company has a market cap of $3.65 billion, a price-to-earnings ratio of -703.47 and a beta of 1.85. RadNet, Inc. has a 12-month low of $45.82 and a 12-month 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.

RadNet (NASDAQ:RDNT - Get Free Report) last issued 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 for 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%. Equities research analysts anticipate that RadNet, Inc. will post 0.56 earnings per share for the current year.

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Institutional Investors Weigh In On RadNet

A number of institutional investors have recently bought and sold shares of RDNT. Norges Bank acquired a new stake in RadNet during the 4th quarter worth about $56,381,000. Raymond James Financial Inc. acquired a new stake in RadNet during the 4th quarter worth about $33,090,000. T. Rowe Price Investment Management Inc. boosted its position in RadNet by 79.3% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 913,691 shares of the medical research company's stock worth $63,813,000 after acquiring an additional 404,241 shares during the period. Portolan Capital Management LLC boosted its position in RadNet by 384.8% during the 3rd quarter. Portolan Capital Management LLC now owns 491,358 shares of the medical research company's stock worth $34,095,000 after acquiring an additional 390,011 shares during the period. Finally, Tidal Investments LLC boosted its position in RadNet by 7,219.2% during the 4th quarter. Tidal Investments LLC now owns 389,308 shares of the medical research company's stock worth $27,189,000 after acquiring an additional 383,989 shares during the period. 77.90% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the company. StockNews.com upgraded RadNet to a "sell" rating in a research note on Wednesday. Barclays cut their price objective on shares of RadNet from $85.00 to $74.00 and set an "overweight" rating on the stock in a research note on Wednesday, January 22nd. Truist Financial restated a "buy" rating and set a $88.00 price objective (down from $94.00) on shares of RadNet in a research note on Wednesday, January 22nd. Raymond James upgraded shares of RadNet from an "outperform" rating to a "strong-buy" rating and cut their price objective for the company from $85.00 to $65.00 in a research note on Wednesday, March 5th. Finally, Jefferies Financial Group cut their price objective on shares of RadNet from $100.00 to $80.00 and set a "buy" rating on the stock in a research note on Wednesday, January 15th. One investment 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. According to data from MarketBeat.com, RadNet currently has a consensus rating of "Buy" and a consensus price target 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.