RadNet, Inc. (NASDAQ:RDNT) CEO Sells $50,520.00 in Stock

RadNet, Inc. (NASDAQ:RDNT) CEO Cornelis Wesdorp sold 1,000 shares of the stock in a transaction on Friday, March 7th. The shares were sold at an average price of $50.52, for a total value of $50,520.00. Following the completion of the transaction, the chief executive officer now directly owns 55,995 shares of the company’s stock, valued at approximately $2,828,867.40. This represents a 1.75 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

Cornelis Wesdorp also recently made the following trade(s):

• On Wednesday, March 5th, Cornelis Wesdorp sold 2,000 shares of RadNet stock. The shares were sold at an average price of $52.58, for a total value of $105,160.00.

RadNet Stock Performance

NASDAQ RDNT opened at $50.31 on Monday. The stock has a market cap of $3.73 billion, a PE ratio of -718.61 and a beta of 1.85. The company has a current ratio of 2.16, a quick ratio of 2.16 and a debt-to-equity ratio of 0.89. RadNet, Inc. has a twelve month low of $42.45 and a twelve month high of $93.65. The stock has a fifty day simple moving average of $63.31 and a 200-day simple moving average of $68.67.

RadNet (NASDAQ:RDNT) last released its quarterly earnings results on Thursday, February 27th. The medical research company reported $0.22 earnings per share for the quarter, topping analysts’ consensus estimates of $0.21 by $0.01. The business had revenue of $477.10 million during the quarter, compared to analysts’ expectations of $459.42 million. RadNet had a positive return on equity of 4.29% and a negative net margin of 0.25%. Equities analysts anticipate that RadNet, Inc. will post 0.56 earnings per share for the current year.

Hedge Funds Weigh In On RadNet

A number of hedge funds have recently modified their holdings of the business. Vanguard Group Inc. grew its holdings in shares of RadNet by 1.0% during the 4th quarter. Vanguard Group Inc. now owns 7,425,218 shares of the medical research company’s stock worth $518,577,000 after purchasing an additional 71,910 shares during the period. State Street Corp boosted its holdings in RadNet by 1.3% during the 3rd quarter. State Street Corp now owns 2,446,179 shares of the medical research company’s stock valued at $169,740,000 after acquiring an additional 30,244 shares during the period. RTW Investments LP boosted its holdings in RadNet by 9.4% during the 4th quarter. RTW Investments LP now owns 1,978,582 shares of the medical research company’s stock valued at $138,184,000 after acquiring an additional 169,978 shares during the period. Invesco Ltd. boosted its holdings in RadNet by 4.3% during the 4th quarter. Invesco Ltd. now owns 1,731,074 shares of the medical research company’s stock valued at $120,898,000 after acquiring an additional 70,673 shares during the period. Finally, Geode Capital Management LLC boosted its holdings in RadNet by 0.8% during the 3rd quarter. Geode Capital Management LLC now owns 1,555,214 shares of the medical research company’s stock valued at $107,936,000 after acquiring an additional 11,613 shares during the period. 77.90% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on the company. Raymond James raised RadNet from an “outperform” rating to a “strong-buy” rating and cut their target price for the stock from $85.00 to $65.00 in a research note on Wednesday, March 5th. Barclays cut their target price on RadNet from $85.00 to $74.00 and set an “overweight” rating for the company in a research note on Wednesday, January 22nd. Jefferies Financial Group cut their target price on RadNet from $100.00 to $80.00 and set a “buy” rating for the company in a research note on Wednesday, January 15th. Finally, Truist Financial reaffirmed a “buy” rating and issued a $88.00 target price (down from $94.00) on shares of RadNet in a research note on Wednesday, January 22nd. One investment analyst has rated the stock with a sell rating, three have given a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, RadNet presently has an average rating of “Buy” and an average price target of $76.75.

RadNet Company Profile

RadNet, Inc, together with its subsidiaries, provides outpatient diagnostic imaging services in the United States. The company operates in two segments: Imaging Centers and Artificial Intelligence. 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.