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

RadNet, Inc. (NASDAQ:RDNT) CEO Cornelis Wesdorp sold 2,000 shares of the stock in a transaction on Wednesday, March 5th. The stock was sold at an average price of $52.58, for a total transaction of $105,160.00. Following the transaction, the chief executive officer now directly owns 58,995 shares in the company, valued at $3,101,957.10. The trade was a 3.28 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

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 Stock Performance

Shares of RadNet stock opened at $50.31 on Friday. RadNet, Inc. has a fifty-two week low of $42.45 and a fifty-two week high of $93.65. The firm has a market cap of $3.73 billion, a P/E ratio of -718.61 and a beta of 1.85. The company has a debt-to-equity ratio of 0.89, a current ratio of 2.16 and a quick ratio of 2.16. The firm has a 50 day simple moving average of $63.31 and a 200 day simple moving average of $68.58.

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 analysts’ consensus estimates 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 firm had revenue of $477.10 million for the quarter, compared to analysts’ expectations of $459.42 million. Sell-side analysts predict that RadNet, Inc. will post 0.56 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on RDNT. Barclays decreased their price target on shares of RadNet from $85.00 to $74.00 and set an “overweight” rating for the company in a report on Wednesday, January 22nd. Jefferies Financial Group reduced their target price on shares of RadNet from $100.00 to $80.00 and set a “buy” rating for the company in a research note on Wednesday, January 15th. Raymond James upgraded shares of RadNet from an “outperform” rating to a “strong-buy” rating and reduced their target price for the company from $85.00 to $65.00 in a research note on Wednesday. Finally, Truist Financial reiterated a “buy” rating and issued a $88.00 target price (down previously from $94.00) on shares of RadNet in a research note on Wednesday, January 22nd. 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 data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average target price of $76.75.

Hedge Funds Weigh In On RadNet

A number of hedge funds and other institutional investors have recently made changes to their positions in RDNT. Wealth Enhancement Advisory Services LLC bought a new position in shares of RadNet during the third quarter worth $389,000. Nisa Investment Advisors LLC boosted its position in shares of RadNet by 321.6% during the third quarter. Nisa Investment Advisors LLC now owns 3,575 shares of the medical research company’s stock worth $248,000 after purchasing an additional 2,727 shares in the last quarter. Hanseatic Management Services Inc. lifted its position in RadNet by 4.4% in the 3rd quarter. Hanseatic Management Services Inc. now owns 20,851 shares of the medical research company’s stock valued at $1,447,000 after acquiring an additional 883 shares in the last quarter. Principal Financial Group Inc. lifted its position in RadNet by 8.5% in the 3rd quarter. Principal Financial Group Inc. now owns 1,506,545 shares of the medical research company’s stock valued at $104,539,000 after acquiring an additional 118,501 shares in the last quarter. Finally, Covestor Ltd lifted 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 acquiring an additional 435 shares in the last quarter. 77.90% of the stock is owned by institutional investors.

About RadNet

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.