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 that occurred on Monday, March 17th. The stock was sold at an average price of $49.79, for a total value of $248,950.00. Following the sale, the chief operating officer now owns 261,959 shares in the company, valued at $13,042,938.61. This represents a 1.87 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

RadNet Price Performance

Shares of RDNT opened at $49.71 on Friday. The company has a market cap of $3.68 billion, a P/E ratio of -710.04 and a beta of 1.85. The stock has a fifty day moving average price of $59.17 and a 200 day moving average price of $67.57. The company has a debt-to-equity ratio of 0.89, a current ratio of 2.16 and a quick ratio of 2.16. RadNet, Inc. has a 12 month low of $45.82 and a 12 month high of $93.65.

RadNet (NASDAQ:RDNT) last issued its quarterly earnings data on Thursday, February 27th. The medical research company reported $0.22 EPS 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 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%. On average, research analysts forecast that RadNet, Inc. will post 0.56 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. grew its stake in RadNet by 1.0% during the 4th quarter. Vanguard Group Inc. now owns 7,425,218 shares of the medical research company’s stock worth $518,577,000 after buying an additional 71,910 shares during the last quarter. State Street Corp boosted its position in RadNet by 1.3% during 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 position in RadNet by 9.4% during 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 position in RadNet by 4.3% during 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 position in 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 worth $107,936,000 after acquiring an additional 11,613 shares during the period. 77.90% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on RDNT shares. Jefferies Financial Group lowered their price target on RadNet from $100.00 to $80.00 and set a “buy” rating for the company in a report on Wednesday, January 15th. Truist Financial reiterated a “buy” rating and issued a $88.00 price target (down from $94.00) on shares of RadNet in a report on Wednesday, January 22nd. StockNews.com upgraded RadNet to a “sell” rating in a report on Wednesday. Barclays lowered their price target on RadNet from $85.00 to $74.00 and set an “overweight” rating for the company in a report on Wednesday, January 22nd. Finally, Raymond James upgraded RadNet from an “outperform” rating to a “strong-buy” rating and lowered their price target for the company from $85.00 to $65.00 in a report on Wednesday, March 5th. One analyst has rated the stock with a sell rating, three have issued a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, the stock 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.