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In a recent series of transactions, Norman R. Hames, President and COO-West Operations at RadNet , Inc. (NASDAQ:RDNT), sold a total of $741,300 worth of company stock. The transactions, detailed in a Form 4 filing with the SEC, took place over three days from March 17 to March 19. RadNet, currently valued at $3.76 billion, has demonstrated strong revenue growth of ~13% over the last twelve months, according to InvestingPro data.
Hames sold a total of 15,000 shares of RadNet’s common stock. The sale prices ranged from $48.25 to $50.31 per share, with the stock currently trading at $50.71. Following these transactions, Hames now holds 251,959 shares in the company. InvestingPro analysis indicates the company maintains a GOOD overall financial health score, though the stock has shown significant volatility recently.
The filing also corrected a previous error regarding Hames’ shareholdings, noting an understated figure by 11,000 shares. This correction has been addressed in the current Form 4. For deeper insights into RadNet’s valuation and 12 additional exclusive ProTips, visit InvestingPro.
In other recent news, RadNet reported its fourth-quarter 2024 earnings, revealing a revenue increase of 13.5% to $477.1 million, although earnings per share (EPS) fell short of expectations at $0.07 compared to the forecasted $0.20. The company’s digital health segment saw a significant revenue increase of 28.1%. Raymond (NSE:RYMD) James upgraded RadNet’s stock rating to Strong Buy, citing an appealing valuation despite reducing the price target from $85 to $65. Analyst John Ransom highlighted RadNet’s leadership in outpatient radiology and the potential for growth through mergers and acquisitions. Meanwhile, Jefferies maintained its Buy rating on RadNet, although it adjusted the price target from $80 to $76, attributing the revision to non-recurring events like adverse weather conditions. Jefferies analyst Brian Tanquilut noted a 7% revenue growth expectation for 2025, with an anticipated EBITDA acceleration beginning in 2026. RadNet’s management also announced plans to focus on expanding its digital health infrastructure and cloud-native platforms, projecting digital health revenue to reach between $80 million and $90 million in 2025.
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