RadNet, Inc. (NASDAQ:RDNT) CEO Cornelis Wesdorp Sells 1,000 Shares

RadNet, Inc. (NASDAQ:RDNT) CEO Cornelis Wesdorp sold 1,000 shares of the business’s 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 owns 55,995 shares of the company’s stock, valued at $2,828,867.40. This trade represents a 1.75 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available 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 Down 2.5 %

Shares of NASDAQ RDNT opened at $50.31 on Friday. RadNet, Inc. has a 52-week low of $42.45 and a 52-week high of $93.65. The firm has a fifty day moving average of $63.31 and a 200-day moving average of $68.58. The stock has a market capitalization of $3.73 billion, a PE ratio of -718.61 and a beta of 1.85. The company has a quick ratio of 2.16, a current ratio of 2.16 and a debt-to-equity ratio of 0.89.

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

Analysts Set New Price Targets

RDNT has been the subject of several analyst reports. Jefferies Financial Group cut their price target on RadNet from $100.00 to $80.00 and set a “buy” rating for the company in a report on Wednesday, January 15th. Raymond James upgraded RadNet from an “outperform” rating to a “strong-buy” rating and cut their price target for the company from $85.00 to $65.00 in a report on Wednesday. Truist Financial reiterated a “buy” rating and issued a $88.00 price target (down from $94.00) on shares of RadNet in a report on Wednesday, January 22nd. Finally, Barclays cut their price target on RadNet from $85.00 to $74.00 and set an “overweight” rating for the company in a report on Wednesday, January 22nd. One investment analyst has rated the stock with a sell rating, three have given a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus price target of $76.75.

Institutional Trading of RadNet

Institutional investors have recently added to or reduced their stakes in the business. USA Financial Formulas purchased a new stake in RadNet during the 4th quarter worth $30,000. Covestor Ltd boosted its position in RadNet by 10,875.0% in the 3rd quarter. Covestor Ltd now owns 439 shares of the medical research company’s stock valued at $30,000 after buying an additional 435 shares during the last quarter. Fifth Third Bancorp boosted its position in RadNet by 84.3% in the 4th quarter. Fifth Third Bancorp now owns 667 shares of the medical research company’s stock valued at $47,000 after buying an additional 305 shares during the last quarter. Peterson Financial Group Inc. purchased a new position in RadNet in the 3rd quarter valued at about $90,000. Finally, Smartleaf Asset Management LLC boosted its position in RadNet by 377.0% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,345 shares of the medical research company’s stock valued at $96,000 after buying an additional 1,063 shares during the last quarter. 77.90% of the stock is owned by hedge funds and other institutional investors.

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.