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 dated Wednesday, March 19th. The stock was sold at an average price of $50.22, for a total value of $251,100.00. Following the sale, the chief operating officer now directly owns 251,959 shares in the company, valued at approximately $12,653,380.98. The trade was a 1.95 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website.

RadNet Stock Down 0.9 %

Shares of RadNet stock opened at $49.25 on Friday. The company has a quick ratio of 2.16, a current ratio of 2.16 and a debt-to-equity ratio of 0.89. The firm has a market cap of $3.65 billion, a P/E ratio of -703.47 and a beta of 1.85. RadNet, Inc. has a fifty-two week low of $45.82 and a fifty-two week high of $93.65. The business has a 50-day moving average price of $58.78 and a 200 day moving average price of $67.46.

RadNet (NASDAQ:RDNT) last announced its quarterly earnings data on Thursday, February 27th. The medical research company reported $0.22 earnings per share for the quarter, beating the consensus estimate of $0.21 by $0.01. The firm had revenue of $477.10 million during 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, sell-side analysts forecast that RadNet, Inc. will post 0.56 earnings per share for the current fiscal year.

Hedge Funds Weigh In On RadNet

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Franklin Resources Inc. boosted its stake in RadNet by 12.0% in the third quarter. Franklin Resources Inc. now owns 387,061 shares of the medical research company’s stock valued at $27,334,000 after acquiring an additional 41,381 shares during the period. KBC Group NV boosted its stake in RadNet by 47.6% in the fourth quarter. KBC Group NV now owns 2,678 shares of the medical research company’s stock valued at $187,000 after acquiring an additional 864 shares during the period. Pathstone Holdings LLC boosted its stake in RadNet by 58.5% in the third quarter. Pathstone Holdings LLC now owns 27,503 shares of the medical research company’s stock valued at $1,908,000 after acquiring an additional 10,151 shares during the period. Allspring Global Investments Holdings LLC boosted its stake in RadNet by 30.4% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 1,475,995 shares of the medical research company’s stock valued at $103,532,000 after acquiring an additional 344,146 shares during the period. Finally, JPMorgan Chase & Co. boosted its stake in RadNet by 1.4% in the third quarter. JPMorgan Chase & Co. now owns 132,997 shares of the medical research company’s stock valued at $9,229,000 after acquiring an additional 1,838 shares during the period. 77.90% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

RDNT has been the topic of a number of analyst reports. Raymond James raised RadNet from an “outperform” rating to a “strong-buy” rating and dropped their target price for the stock from $85.00 to $65.00 in a research report on Wednesday, March 5th. Barclays dropped their target price on RadNet from $85.00 to $74.00 and set an “overweight” rating on the stock in a research report on Wednesday, January 22nd. StockNews.com raised RadNet to a “sell” rating in a research report on Wednesday. Truist Financial reaffirmed 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. Finally, Jefferies Financial Group dropped their target price on RadNet from $100.00 to $80.00 and set a “buy” rating on the stock in a research report on Wednesday, January 15th. One analyst has rated the stock with a sell rating, three have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, RadNet has a consensus rating of “Buy” and an average target price of $76.75.

About RadNet

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.