RadNet Inc. (RDNT) Insider Norman R. Hames Sells 2,500 Shares
RadNet Inc. (NASDAQ:RDNT) insider Norman R. Hames sold 2,500 shares of the firm’s stock in a transaction dated Monday, November 28th. The stock was sold at an average price of $6.21, for a total value of $15,525.00. Following the sale, the insider now directly owns 621,050 shares of the company’s stock, valued at $3,856,720.50. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink.
RadNet Inc. (NASDAQ:RDNT) opened at 6.10 on Wednesday. The stock has a market cap of $283.45 million, a PE 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. The stock has a 50 day moving average price of $6.93 and a 200 day moving average price of $6.27.
RadNet (NASDAQ:RDNT) last issued its quarterly earnings data on Wednesday, November 9th. The company reported $0.04 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ 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 earned $224.60 million during the quarter, compared to analysts’ expectations of $223.31 million. During the same quarter in the prior year, the company earned $0.10 earnings per share. The firm’s revenue was up 7.8% compared to the same quarter last year. On average, equities analysts predict that RadNet Inc. will post $0.23 earnings per share for the current year.
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A number of brokerages recently commented on RDNT. B. Riley restated a “buy” rating and set a $9.00 target price on shares of RadNet in a report on Thursday, August 4th. Zacks Investment Research cut RadNet from a “hold” rating to a “sell” rating in a report on Saturday, August 6th. Jefferies Group restated a “hold” rating on shares of RadNet in a report on Friday, August 5th. Finally, Craig Hallum cut RadNet from a “buy” rating to a “hold” rating in a report on Wednesday, November 9th. Four analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and an average target price of $8.00.
Hedge funds have recently modified their holdings of the stock. Bank of Montreal Can acquired a new position in RadNet during the second quarter valued at approximately $102,000. American International Group Inc. raised its position in RadNet by 6.2% in the second quarter. American International Group Inc. now owns 21,381 shares of the company’s stock valued at $114,000 after buying an additional 1,243 shares during the last quarter. First Trust Advisors LP acquired a new position in RadNet during the third quarter valued at approximately $127,000. BlackRock Advisors LLC raised 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 during the last quarter. Finally, Metropolitan Life Insurance Co. NY raised its position in RadNet by 17.0% in the second quarter. Metropolitan Life Insurance Co. NY now owns 31,163 shares of the company’s stock valued at $166,000 after buying an additional 4,522 shares during the last quarter. Institutional investors and hedge funds own 46.97% of the company’s stock.
RadNet Company Profile
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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