Cornelis Wesdorp Sells 2,000 Shares of RadNet, Inc. (NASDAQ:RDNT) Stock

RadNet, Inc. (NASDAQ:RDNT) CEO Cornelis Wesdorp sold 2,000 shares of the business’s stock in a transaction that occurred on Wednesday, March 5th. The shares were sold at an average price of $52.58, for a total transaction of $105,160.00. Following the completion of the transaction, the chief executive officer now owns 58,995 shares of the company’s stock, valued at $3,101,957.10. The trade was a 3.28 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website.

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

• On Friday, March 7th, Cornelis Wesdorp sold 1,000 shares of RadNet stock. The shares were sold at an average price of $50.52, for a total transaction of $50,520.00.

RadNet Trading Down 2.5 %

Shares of RadNet stock opened at $50.31 on Friday. The firm has a market capitalization 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. The firm’s 50 day moving average is $63.31 and its 200 day moving average is $68.63. RadNet, Inc. has a 1 year low of $42.45 and a 1 year high of $93.65.

RadNet (NASDAQ:RDNT) last announced its quarterly earnings results 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. The company had revenue of $477.10 million for the quarter, compared to analyst estimates of $459.42 million. RadNet had a negative net margin of 0.25% and a positive return on equity of 4.29%. Equities research analysts forecast that RadNet, Inc. will post 0.56 earnings per share for the current fiscal year.

Institutional Investors Weigh In On RadNet

Several hedge funds and other institutional investors have recently made changes to their positions in RDNT. USA Financial Formulas bought a new stake in RadNet during the 4th quarter worth approximately $30,000. Covestor Ltd grew its holdings in RadNet by 10,875.0% during the 3rd quarter. Covestor Ltd now owns 439 shares of the medical research company’s stock worth $30,000 after acquiring an additional 435 shares during the last quarter. Fifth Third Bancorp grew its holdings in RadNet by 84.3% during the 4th quarter. Fifth Third Bancorp now owns 667 shares of the medical research company’s stock worth $47,000 after acquiring an additional 305 shares during the last quarter. Peterson Financial Group Inc. bought a new stake in RadNet during the 3rd quarter worth approximately $90,000. Finally, Smartleaf Asset Management LLC grew its holdings in RadNet by 377.0% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,345 shares of the medical research company’s stock worth $96,000 after acquiring an additional 1,063 shares during the last quarter. 77.90% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

RDNT has been the subject of several analyst reports. Truist Financial restated a “buy” rating and issued a $88.00 target price (down from $94.00) on shares of RadNet in a research report on Wednesday, January 22nd. Barclays dropped their target price on shares of RadNet from $85.00 to $74.00 and set an “overweight” rating for the company in a research report on Wednesday, January 22nd. Jefferies Financial Group dropped their target price on shares of RadNet from $100.00 to $80.00 and set a “buy” rating for the company in a research report on Wednesday, January 15th. Finally, Raymond James upgraded shares of RadNet from an “outperform” rating to a “strong-buy” rating and dropped their target price for the company from $85.00 to $65.00 in a research report on Wednesday. One 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 stock. According to MarketBeat, RadNet currently has an average rating of “Buy” and a consensus 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.