Norman R. Hames Sells 5,000 Shares of RadNet Inc. (RDNT) Stock
RadNet Inc. (NASDAQ:RDNT) insider Norman R. Hames sold 5,000 shares of the business’s stock in a transaction that occurred on Wednesday, December 6th. The shares were sold at an average price of $9.72, for a total transaction of $48,600.00. Following the completion of the sale, the insider now directly owns 402,587 shares in the company, valued at approximately $3,913,145.64. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.
RadNet Inc. (RDNT) traded up $0.05 during trading on Thursday, reaching $9.75. 187,452 shares of the company were exchanged, compared to its average volume of 207,208. The company has a quick ratio of 1.29, a current ratio of 1.29 and a debt-to-equity ratio of 7.88. The company has a market cap of $466.71, a price-to-earnings ratio of 32.67, a PEG ratio of 3.29 and a beta of 0.82. RadNet Inc. has a twelve month low of $5.25 and a twelve month high of $11.90.
RadNet (NASDAQ:RDNT) last posted its earnings results on Thursday, November 9th. The medical research company reported $0.12 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.12. The business had revenue of $227.60 million for the quarter, compared to analyst estimates of $232.84 million. RadNet had a net margin of 1.21% and a return on equity of 23.73%. RadNet’s revenue was up 1.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.11 EPS. research analysts anticipate that RadNet Inc. will post 0.35 earnings per share for the current year.
RDNT has been the topic of several research reports. Zacks Investment Research raised shares of RadNet from a “sell” rating to a “hold” rating in a research report on Wednesday, October 25th. TheStreet raised shares of RadNet from a “c” rating to a “b-” rating in a research report on Thursday, August 24th. Jefferies Group raised shares of RadNet from a “hold” rating to a “buy” rating and upped their target price for the stock from $7.00 to $12.00 in a report on Tuesday, August 22nd. Finally, BidaskClub raised shares of RadNet from a “buy” rating to a “strong-buy” rating in a report on Thursday, August 24th.
A number of institutional investors have recently bought and sold shares of the stock. Geode Capital Management LLC increased its holdings in shares of RadNet by 6.6% in the 1st quarter. Geode Capital Management LLC now owns 274,192 shares of the medical research company’s stock worth $1,617,000 after buying an additional 16,924 shares during the last quarter. Wedge Capital Management L L P NC bought a new position in shares of RadNet in the 3rd quarter worth $403,000. Vanguard Group Inc. increased its holdings in shares of RadNet by 2.5% in the 1st quarter. Vanguard Group Inc. now owns 1,233,623 shares of the medical research company’s stock worth $7,278,000 after buying an additional 30,054 shares during the last quarter. TIAA CREF Investment Management LLC increased its holdings in shares of RadNet by 19.7% in the 2nd quarter. TIAA CREF Investment Management LLC now owns 124,612 shares of the medical research company’s stock worth $966,000 after buying an additional 20,520 shares during the last quarter. Finally, Schwab Charles Investment Management Inc. increased its holdings in shares of RadNet by 18.4% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 163,032 shares of the medical research company’s stock worth $1,264,000 after buying an additional 25,300 shares during the last quarter. 53.24% of the stock is currently owned by institutional investors and hedge funds.
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RadNet, Inc is a provider of freestanding, fixed-site outpatient diagnostic imaging services in the United States. As of December 31, 2016, the Company operated directly or indirectly through joint ventures, 305 centers located in California, Delaware, Florida, Maryland, New Jersey, New York and Rhode Island.
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