RadNet (NASDAQ:RDNT) COO Sells $727,400.00 in Stock

Key Points

• Norman Hames, COO of RadNet, sold 10,000 shares at an average price of $72.74, totaling $727,400, reducing his position by 4.01% to 239,183 shares.
• RadNet reported $0.31 EPS for the last quarter, exceeding analysts' expectations of $0.17, with revenue of $498.23 million, a 8.4% year-over-year increase.
• Analyst ratings for RadNet vary, with three analysts giving it a Strong Buy, and a consensus rating of Buy alongside an average price target of $76.80.

RadNet, Inc. (NASDAQ:RDNT - Get Free Report) COO Norman R. Hames sold 10,000 shares of the firm's stock in a transaction that occurred on Wednesday, September 10th. The stock was sold at an average price of $72.74, for a total transaction of $727,400.00. Following the sale, the chief operating officer owned 239,183 shares of the company's stock, valued at approximately $17,398,171.42. The trade was a 4.01% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

RadNet Stock Performance

NASDAQ RDNT traded up $0.84 on Wednesday, hitting $75.20. 844,749 shares of the stock traded hands, compared to its average volume of 614,558. The firm has a market capitalization of $5.78 billion, a price-to-earnings ratio of -375.98 and a beta of 1.54. The business's fifty day moving average is $64.17 and its two-hundred day moving average is $57.35. The company has a debt-to-equity ratio of 0.91, a quick ratio of 2.00 and a current ratio of 2.00. RadNet, Inc. has a 12 month low of $45.00 and a 12 month high of $93.65.

RadNet (NASDAQ:RDNT - Get Free Report) last released its quarterly earnings data on Sunday, August 10th. The medical research company reported $0.31 EPS for the quarter, beating the consensus estimate of $0.17 by $0.14. The business had revenue of $498.23 million for the quarter, compared to the consensus estimate of $488.06 million. RadNet had a negative net margin of 0.78% and a positive return on equity of 2.41%. The company's revenue was up 8.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.16 earnings per share. As a group, equities analysts anticipate that RadNet, Inc. will post 0.56 EPS for the current fiscal year.

Institutional Investors Weigh In On RadNet

Several institutional investors and hedge funds have recently modified their holdings of the stock. Headlands Technologies LLC bought a new stake in shares of RadNet during the first quarter valued at approximately $28,000. BNP PARIBAS ASSET MANAGEMENT Holding S.A. bought a new position in shares of RadNet in the 2nd quarter worth about $35,000. State of Wyoming purchased a new position in RadNet during the 2nd quarter valued at about $58,000. Family Legacy Financial Solutions LLC bought a new stake in RadNet during the second quarter worth about $85,000. Finally, Neo Ivy Capital Management purchased a new stake in RadNet in the second quarter worth about $88,000. 77.90% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts have issued reports on RDNT shares. Wall Street Zen upgraded RadNet from a "sell" rating to a "hold" rating in a research report on Saturday, August 16th. Raymond James Financial reissued a "strong-buy" rating and set a $75.00 price objective (up previously from $66.00) on shares of RadNet in a report on Wednesday, August 13th. Zacks Research upgraded shares of RadNet from a "strong sell" rating to a "hold" rating in a research report on Monday, August 18th. Morgan Stanley raised shares of RadNet to an "overweight" rating in a research note on Monday, August 11th. Finally, Barclays lifted their price objective on shares of RadNet from $60.00 to $79.00 and gave the stock an "overweight" rating in a report on Wednesday, September 3rd. Three analysts have rated the stock with a Strong Buy rating, four have given a Buy rating and one has given a Hold rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Buy" and a consensus target price of $76.80.

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.