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

RadNet, Inc. (NASDAQ:RDNT) COO Norman R. Hames sold 5,000 shares of the stock in a transaction on Wednesday, March 19th. The shares were sold at an average price of $50.22, for a total value of $251,100.00. Following the sale, the chief operating officer now owns 251,959 shares in the company, valued at approximately $12,653,380.98. This trade represents a 1.95 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link.

RadNet Trading Down 0.9 %

Shares of RDNT opened at $49.25 on Friday. The company has a current ratio of 2.16, a quick ratio of 2.16 and a debt-to-equity ratio of 0.89. The firm has a market capitalization of $3.65 billion, a P/E ratio of -703.47 and a beta of 1.85. The stock’s fifty day simple moving average is $58.78 and its 200 day simple moving average is $67.46. RadNet, Inc. has a twelve month low of $45.82 and a twelve month high of $93.65.

RadNet (NASDAQ:RDNT) last issued its earnings results on Thursday, February 27th. The medical research company reported $0.22 earnings per share for the quarter, topping the consensus estimate of $0.21 by $0.01. The business had revenue of $477.10 million for the quarter, compared to analyst estimates of $459.42 million. RadNet had a positive return on equity of 4.29% and a negative net margin of 0.25%. On average, equities research analysts forecast that RadNet, Inc. will post 0.56 earnings per share for the current year.

Institutional Trading of RadNet

Several large investors have recently added to or reduced their stakes in the stock. Virtue Capital Management LLC increased its holdings in RadNet by 6.4% in the 4th quarter. Virtue Capital Management LLC now owns 20,628 shares of the medical research company’s stock valued at $1,441,000 after purchasing an additional 1,239 shares in the last quarter. Squarepoint Ops LLC acquired a new stake in RadNet in the 4th quarter valued at $3,407,000. Twinbeech Capital LP acquired a new stake in RadNet in the 4th quarter valued at $1,420,000. Two Sigma Advisers LP increased its holdings in RadNet by 217.1% in the 4th quarter. Two Sigma Advisers LP now owns 24,100 shares of the medical research company’s stock valued at $1,683,000 after purchasing an additional 16,500 shares in the last quarter. Finally, Two Sigma Investments LP increased its holdings in RadNet by 46.0% in the 4th quarter. Two Sigma Investments LP now owns 81,065 shares of the medical research company’s stock valued at $5,662,000 after purchasing an additional 25,529 shares in the last quarter. 77.90% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts have commented on RDNT shares. Barclays lowered their target price on RadNet from $85.00 to $74.00 and set an “overweight” rating on the stock in a report on Wednesday, January 22nd. Truist Financial reissued a “buy” rating and set a $88.00 price target (down previously from $94.00) on shares of RadNet in a research note on Wednesday, January 22nd. Jefferies Financial Group reduced their price target on RadNet from $100.00 to $80.00 and set a “buy” rating on the stock in a research note on Wednesday, January 15th. Raymond James raised RadNet from an “outperform” rating to a “strong-buy” rating and reduced their price target for the stock from $85.00 to $65.00 in a research note on Wednesday, March 5th. Finally, StockNews.com raised RadNet to a “sell” rating in a research note on Wednesday. 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. According to MarketBeat, RadNet currently has an average rating of “Buy” and an average 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.