Insider Selling: RadNet, Inc. (NASDAQ:RDNT) COO Sells 10,000 Shares of Stock

RadNet, Inc. (NASDAQ:RDNT – Get Rating) COO Norman R. Hames sold 10,000 shares of RadNet stock in a transaction that occurred on Tuesday, May 24th. The shares were sold at an average price of $19.12, for a total transaction of $191,200.00. Following the transaction, the chief operating officer now directly owns 290,179 shares in the company, valued at approximately $5,548,222.48. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

Shares of NASDAQ RDNT traded down $0.04 during mid-day trading on Wednesday, hitting $19.24. 4,865 shares of the company’s stock traded hands, compared to its average volume of 269,485. The company’s 50-day moving average is $20.57 and its two-hundred day moving average is $24.57. The company has a debt-to-equity ratio of 1.76, a current ratio of 0.76 and a quick ratio of 0.76. The company has a market capitalization of $1.08 billion, a P/E ratio of 58.42 and a beta of 1.72. RadNet, Inc. has a 1 year low of $16.44 and a 1 year high of $38.84.

RadNet (NASDAQ:RDNT – Get Rating) last announced its earnings results on Monday, May 9th. The medical research company reported ($0.15) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.02) by ($0.13). The business had revenue of $341.80 million for the quarter, compared to analysts’ expectations of $333.46 million. RadNet had a net margin of 1.36% and a return on equity of 6.82%. The firm’s quarterly revenue was up 8.4% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.04 earnings per share. Equities analysts anticipate that RadNet, Inc. will post 0.2 EPS for the current fiscal year.

Several hedge funds and other institutional investors have recently made changes to their positions in RDNT. Edmond DE Rothschild Holding S.A. raised its position in shares of RadNet by 58.1% during the 1st quarter. Edmond DE Rothschild Holding S.A. now owns 1,695,630 shares of the medical research company’s stock valued at $37,931,000 after buying an additional 622,960 shares in the last quarter. American Century Companies Inc. raised its position in RadNet by 90.9% in the 4th quarter. American Century Companies Inc. now owns 1,132,093 shares of the medical research company’s stock worth $34,087,000 after purchasing an additional 538,951 shares during the period. Beck Mack & Oliver LLC raised its position in RadNet by 20.8% in the 4th quarter. Beck Mack & Oliver LLC now owns 2,535,205 shares of the medical research company’s stock worth $76,335,000 after purchasing an additional 435,717 shares during the period. Global Alpha Capital Management Ltd. raised its position in RadNet by 44.6% in the 1st quarter. Global Alpha Capital Management Ltd. now owns 1,393,482 shares of the medical research company’s stock worth $31,172,000 after purchasing an additional 429,770 shares during the period. Finally, Woodline Partners LP raised its position in RadNet by 145.0% in the 1st quarter. Woodline Partners LP now owns 512,256 shares of the medical research company’s stock worth $11,459,000 after purchasing an additional 303,194 shares during the period. Hedge funds and other institutional investors own 64.14% of the company’s stock.

Several equities analysts have weighed in on RDNT shares. Zacks Investment Research downgraded shares of RadNet from a “hold” rating to a “sell” rating in a report on Tuesday, May 17th. TheStreet downgraded shares of RadNet from a “b-” rating to a “c” rating in a report on Tuesday, March 15th. Finally, StockNews.com started coverage on shares of RadNet in a report on Thursday, March 31st. They set a “hold” rating for the company. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, RadNet has an average rating of “Hold” and an average target price of $38.00.

RadNet Company Profile (Get Rating)

RadNet, Inc, together with its subsidiaries, provides outpatient diagnostic imaging services in the United States. 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.

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