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

RadNet, Inc. (NASDAQ:RDNT) COO Norman R. Hames sold 5,000 shares of the business’s stock in a transaction that occurred on Monday, March 17th. The stock was sold at an average price of $49.79, for a total transaction of $248,950.00. Following the completion of the transaction, the chief operating officer now owns 261,959 shares of the company’s stock, valued at $13,042,938.61. This trade represents a 1.87 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.

RadNet Stock Up 4.7 %

NASDAQ RDNT opened at $50.71 on Thursday. 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 fifty-two week low of $45.16 and a fifty-two week high of $93.65. The stock has a market capitalization of $3.75 billion, a PE ratio of -724.33 and a beta of 1.85. The business has a fifty day moving average price of $59.62 and a two-hundred day moving average price of $67.70.

RadNet (NASDAQ:RDNT) last posted its 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. RadNet had a negative net margin of 0.25% and a positive return on equity of 4.29%. The firm had revenue of $477.10 million for the quarter, compared to analysts’ expectations of $459.42 million. Equities analysts expect that RadNet, Inc. will post 0.56 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

RDNT has been the topic of a number of research reports. Raymond James upgraded shares of RadNet from an “outperform” rating to a “strong-buy” rating and cut their target price for the company from $85.00 to $65.00 in a research report on Wednesday, March 5th. Truist Financial reaffirmed a “buy” rating and issued a $88.00 target price (down previously from $94.00) on shares of RadNet in a research note on Wednesday, January 22nd. Barclays decreased their price target on shares of RadNet from $85.00 to $74.00 and set an “overweight” rating for the company in a report on Wednesday, January 22nd. StockNews.com upgraded shares of RadNet to a “sell” rating in a report on Wednesday. Finally, Jefferies Financial Group dropped their price objective on 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 assigned a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Buy” and a consensus target price of $76.75.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in RDNT. Virtue Capital Management LLC grew its stake in RadNet by 6.4% during the fourth quarter. Virtue Capital Management LLC now owns 20,628 shares of the medical research company’s stock worth $1,441,000 after purchasing an additional 1,239 shares during the period. Squarepoint Ops LLC bought a new position in shares of RadNet during the fourth quarter valued at about $3,407,000. Twinbeech Capital LP bought a new stake in RadNet in the 4th quarter worth about $1,420,000. Two Sigma Advisers LP increased its position in shares of RadNet by 217.1% during the fourth quarter. Two Sigma Advisers LP now owns 24,100 shares of the medical research company’s stock valued at $1,683,000 after acquiring an additional 16,500 shares during the last quarter. Finally, Two Sigma Investments LP raised its holdings in shares of RadNet by 46.0% in the 4th quarter. Two Sigma Investments LP now owns 81,065 shares of the medical research company’s stock worth $5,662,000 after purchasing an additional 25,529 shares during the period. 77.90% of the stock is owned by institutional investors.

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.