Today, 7,322 Shares of RadNet Inc. (RDNT) Stock are sold by Norman R. Hames

Today, 7,322 Shares of RadNet Inc. (RDNT) Stock are sold by Norman R. Hames

RadNet Inc. (NASDAQ:RDNT) insider Norman R. Hames sold 7,322 shares of the stock in a transaction on Friday, November 25th. The shares were sold at an average price of $6.12, for a total value of $44,810.64. Following the completion of the sale, the insider now owns 629,872 shares of the company’s stock, valued at $3,854,816.64. The sale was disclosed in a filing with the SEC, which is available at this link.

Shares of RadNet Inc. (NASDAQ:RDNT) traded down 1.61% during mid-day trading on Monday, hitting $6.10. The stock had a trading volume of 132,879 shares. RadNet Inc. has a 52 week low of $4.66 and a 52 week high of $7.98. The stock has a market cap of $283.45 million, a P/E ratio of 63.54 and a beta of 1.59. The stock has a 50-day moving average price of $6.97 and a 200 day moving average price of $6.24.

RadNet (NASDAQ:RDNT) last issued its earnings results on Wednesday, November 9th. The company reported $0.04 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.11 by $0.07. The company had revenue of $224.60 million for the quarter, compared to analyst estimates of $223.31 million. RadNet had a net margin of 0.51% and a return on equity of 22.29%. The company’s quarterly revenue was up 7.8% on a year-over-year basis. During the same period last year, the business earned $0.10 EPS. On average, equities analysts forecast that RadNet Inc. will post $0.23 EPS for the current fiscal year.

Several large investors have recently modified their holdings of RDNT. Bank of Montreal Can bought a new stake in shares of RadNet during the second quarter worth about $102,000. American International Group Inc. raised its stake 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 stake in RadNet during the third quarter valued at about $127,000. BlackRock Advisors LLC raised its stake 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 stake 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. 46.97% of the stock is owned by institutional investors.

Several analysts recently issued reports on RDNT shares. Craig Hallum downgraded RadNet from a “buy” rating to a “hold” rating in a report on Wednesday, November 9th. Zacks Investment Research downgraded RadNet from a “buy” rating to a “hold” rating in a report on Wednesday, October 12th. B. Riley reiterated a “buy” rating and issued a $9.00 price target on shares of RadNet in a report on Monday, August 29th. Finally, Jefferies Group reiterated a “hold” rating and issued a $7.00 price target on shares of RadNet in a report on Thursday, November 10th. Four research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. RadNet presently has a consensus rating of “Hold” and a consensus target price of $8.00.

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