RadNet (NASDAQ:RDNT) COO Norman Hames Sells 5,000 Shares

RadNet, Inc. (NASDAQ:RDNT) COO Norman Hames sold 5,000 shares of the stock in a transaction on Wednesday, August 27th. The stock was sold at an average price of $71.10, for a total value of $355,500.00. Following the transaction, the chief operating officer directly owned 19,889 shares in the company, valued at approximately $1,414,107.90. This represents a 20.09% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

RadNet Trading Down 0.0%

Shares of RDNT opened at $71.76 on Friday. The company has a current ratio of 2.00, a quick ratio of 2.00 and a debt-to-equity ratio of 0.91. The firm has a market capitalization of $5.52 billion, a P/E ratio of -358.78 and a beta of 1.43. The stock’s fifty day simple moving average is $59.87 and its 200 day simple moving average is $56.26. RadNet, Inc. has a twelve month low of $45.00 and a twelve month high of $93.65.

RadNet (NASDAQ:RDNT) last issued its earnings results on Sunday, August 10th. The medical research company reported $0.31 earnings per share for the quarter, topping the consensus estimate of $0.17 by $0.14. The business had revenue of $498.23 million for the quarter, compared to analyst estimates of $488.06 million. RadNet had a positive return on equity of 2.41% and a negative net margin of 0.78%.The business’s quarterly revenue was up 8.4% on a year-over-year basis. During the same period last year, the company posted $0.16 EPS. On average, equities research analysts forecast that RadNet, Inc. will post 0.56 earnings per share for the current year.

Wall Street Analysts Forecast Growth

RDNT has been the topic of several research reports. B. Riley initiated coverage on RadNet in a research report on Friday, June 13th. They issued a “buy” rating and a $69.00 target price on the stock. Zacks Research upgraded RadNet from a “strong sell” rating to a “hold” rating in a report on Monday, August 18th. Morgan Stanley upgraded RadNet to an “overweight” rating in a report on Monday, August 11th. Raymond James Financial reiterated a “strong-buy” rating and issued a $75.00 price target (up from $66.00) on shares of RadNet in a report on Wednesday, August 13th. Finally, Truist Financial set a $74.00 price target on RadNet in a report on Thursday, July 10th. Three analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus target price of $71.60.

Hedge Funds Weigh In On RadNet

A number of hedge funds and other institutional investors have recently bought and sold shares of RDNT. Renaissance Technologies LLC acquired a new position in RadNet in the fourth quarter valued at approximately $237,000. Tower Research Capital LLC TRC raised its holdings in shares of RadNet by 42.2% during the fourth quarter. Tower Research Capital LLC TRC now owns 1,422 shares of the medical research company’s stock valued at $99,000 after buying an additional 422 shares during the last quarter. Susquehanna Fundamental Investments LLC bought a new stake in shares of RadNet during the fourth quarter valued at approximately $572,000. Aquatic Capital Management LLC bought a new stake in shares of RadNet during the fourth quarter valued at approximately $187,000. Finally, Northern Trust Corp raised its holdings in shares of RadNet by 16.5% during the fourth quarter. Northern Trust Corp now owns 772,088 shares of the medical research company’s stock valued at $53,923,000 after buying an additional 109,093 shares during the last quarter. 77.90% of the stock is currently owned by institutional investors and hedge funds.

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.