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 firm’s stock in a transaction dated Friday, November 25th. The shares were sold at an average price of $6.12, for a total transaction of $44,810.64. Following the completion of the transaction, the insider now directly owns 629,872 shares in the company, valued at approximately $3,854,816.64. The sale was disclosed in a document filed with the SEC, which is accessible through this link.
Shares of RadNet Inc. (NASDAQ:RDNT) opened at 6.10 on Wednesday. The stock has a market cap of $283.45 million, a price-to-earnings ratio of 63.54 and a beta of 1.59. The stock’s 50 day moving average is $6.93 and its 200 day moving average is $6.27. RadNet Inc. has a 52 week low of $4.66 and a 52 week high of $7.98.
RadNet (NASDAQ:RDNT) last announced its quarterly earnings results on Wednesday, November 9th. The company reported $0.04 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.11 by $0.07. RadNet had a net margin of 0.51% and a return on equity of 22.29%. The company had revenue of $224.60 million for the quarter, compared to analysts’ expectations of $223.31 million. During the same quarter in the prior year, the firm earned $0.10 EPS. RadNet’s quarterly revenue was up 7.8% compared to the same quarter last year. On average, equities analysts forecast that RadNet Inc. will post $0.23 EPS for the current year.
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A number of large investors have recently bought and sold shares of RDNT. Eqis Capital Management Inc. raised its stake in RadNet by 2.6% in the second quarter. Eqis Capital Management Inc. now owns 1,267,006 shares of the company’s stock valued at $6,766,000 after buying an additional 32,250 shares during the last quarter. Adams Diversified Equity Fund Inc. acquired a new stake in RadNet during the second quarter valued at approximately $330,000. Miracle Mile Advisors LLC raised its stake in RadNet by 42.2% in the second quarter. Miracle Mile Advisors LLC now owns 90,563 shares of the company’s stock valued at $532,000 after buying an additional 26,883 shares during the last quarter. Bank of Montreal Can acquired a new stake in RadNet during the second quarter valued at approximately $102,000. Finally, American Century Companies Inc. raised its stake in RadNet by 0.9% in the second quarter. American Century Companies Inc. now owns 178,333 shares of the company’s stock valued at $952,000 after buying an additional 1,514 shares during the last quarter. 46.97% of the stock is currently owned by institutional investors and hedge funds.
Several equities research analysts have commented on RDNT shares. Zacks Investment Research lowered shares of RadNet from a “buy” rating to a “hold” rating in a research note on Wednesday, October 12th. Jefferies Group reiterated a “hold” rating and issued a $7.00 price objective on shares of RadNet in a research note on Thursday, November 10th. Craig Hallum lowered shares of RadNet from a “buy” rating to a “hold” rating in a research note on Wednesday, November 9th. Finally, B. Riley reiterated a “buy” rating and issued a $9.00 price objective on shares of RadNet in a research note on Tuesday, August 9th. Four equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. RadNet presently has a consensus rating of “Hold” and a consensus price target of $8.00.
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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