Norman R. Hames Sells 7,322 Shares of RadNet Inc. (RDNT) Stock
RadNet Inc. (NASDAQ:RDNT) insider Norman R. Hames sold 7,322 shares of the business’s stock in a transaction dated Friday, November 25th. The stock was sold at an average price of $6.12, for a total transaction of $44,810.64. Following the sale, the insider now directly owns 629,872 shares in the company, valued at approximately $3,854,816.64. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.
RadNet Inc. (NASDAQ:RDNT) opened at 6.10 on Wednesday. The stock has a 50 day moving average of $6.93 and a 200 day moving average of $6.27. The company has a market cap of $283.45 million, a P/E ratio of 63.54 and a beta of 1.59. RadNet Inc. has a 52 week low of $4.66 and a 52 week high of $7.98.
RadNet (NASDAQ:RDNT) last posted its quarterly earnings results on Wednesday, November 9th. The company reported $0.04 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.11 by $0.07. The company earned $224.60 million during the quarter, compared to analysts’ expectations of $223.31 million. RadNet had a return on equity of 22.29% and a net margin of 0.51%. The company’s quarterly revenue was up 7.8% on a year-over-year basis. During the same period in the prior year, the business earned $0.10 EPS. On average, analysts expect that RadNet Inc. will post $0.23 earnings per share for the current year.
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RDNT has been the topic of several research reports. B. Riley reissued a “buy” rating and set a $9.00 price objective on shares of RadNet in a research note on Thursday, August 4th. Jefferies Group reissued a “hold” rating on shares of RadNet in a research note on Friday, August 5th. Zacks Investment Research downgraded shares of RadNet from a “hold” rating to a “sell” rating in a research note on Saturday, August 6th. Finally, Craig Hallum downgraded shares of RadNet from a “buy” rating to a “hold” rating in a research note on Wednesday, November 9th. Four analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus price target of $8.00.
Hedge funds and other institutional investors have recently bought and sold shares of the company. BlackRock Advisors LLC increased its position in RadNet by 1.0% in the third quarter. BlackRock Advisors LLC now owns 18,716 shares of the company’s stock valued at $138,000 after buying an additional 179 shares in the last quarter. Rhumbline Advisers increased its position in RadNet by 1.4% in the third quarter. Rhumbline Advisers now owns 35,850 shares of the company’s stock valued at $265,000 after buying an additional 500 shares in the last quarter. California State Teachers Retirement System increased its position in RadNet by 0.6% in the third quarter. California State Teachers Retirement System now owns 78,380 shares of the company’s stock worth $580,000 after buying an additional 500 shares during the period. BlackRock Investment Management LLC increased its position in RadNet by 0.5% in the third quarter. BlackRock Investment Management LLC now owns 143,646 shares of the company’s stock worth $1,063,000 after buying an additional 644 shares during the period. Finally, Beck Mack & Oliver LLC increased its position in RadNet by 0.5% in the third quarter. Beck Mack & Oliver LLC now owns 186,901 shares of the company’s stock worth $1,383,000 after buying an additional 1,000 shares during the period. 46.97% of the stock is currently owned by institutional investors.
RadNet, Inc is a provider of freestanding, fixed-site outpatient diagnostic imaging services in the United States. The Company operates directly or indirectly through joint ventures with hospitals, approximately 300 centers located in California, Delaware, Florida, Maryland, New Jersey, New York and Rhode Island.
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