RadNet (NASDAQ:RDNT) CEO Cornelis Wesdorp Sells 1,500 Shares of Stock

RadNet, Inc. (NASDAQ:RDNT) CEO Cornelis Wesdorp sold 1,500 shares of the firm’s stock in a transaction that occurred on Tuesday, August 19th. The shares were sold at an average price of $66.98, for a total transaction of $100,470.00. Following the completion of the transaction, the chief executive officer owned 54,495 shares in the company, valued at $3,650,075.10. The trade was a 2.68% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website.

RadNet Price Performance

RDNT opened at $68.61 on Friday. RadNet, Inc. has a 52-week low of $45.00 and a 52-week high of $93.65. The company has a 50 day moving average of $58.15 and a two-hundred day moving average of $55.99. The company has a market cap of $5.28 billion, a P/E ratio of -343.03 and a beta of 1.43. The company has a quick ratio of 2.00, a current ratio of 2.00 and a debt-to-equity ratio of 0.91.

RadNet (NASDAQ:RDNT) last posted its earnings results on Sunday, August 10th. The medical research company reported $0.31 earnings per share for the quarter, beating the consensus estimate of $0.17 by $0.14. RadNet had a negative net margin of 0.78% and a positive return on equity of 2.41%. The business had revenue of $498.23 million for the quarter, compared to analyst estimates of $488.06 million. During the same quarter in the previous year, the business posted $0.16 EPS. The business’s quarterly revenue was up 8.4% on a year-over-year basis. On average, analysts expect that RadNet, Inc. will post 0.56 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the stock. Headlands Technologies LLC acquired a new position in shares of RadNet during the first quarter valued at $28,000. BNP PARIBAS ASSET MANAGEMENT Holding S.A. bought a new stake in shares of RadNet during the second quarter valued at about $35,000. State of Wyoming acquired a new stake in RadNet in the second quarter worth about $58,000. GAMMA Investing LLC lifted its holdings in RadNet by 22.3% in the first quarter. GAMMA Investing LLC now owns 1,644 shares of the medical research company’s stock worth $82,000 after purchasing an additional 300 shares during the period. Finally, Jones Financial Companies Lllp raised its position in shares of RadNet by 563.4% during the 1st quarter. Jones Financial Companies Lllp now owns 1,705 shares of the medical research company’s stock worth $85,000 after buying an additional 1,448 shares in the last quarter. 77.90% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on RDNT shares. Zacks Research upgraded RadNet from a “strong sell” rating to a “hold” rating in a research note on Monday. B. Riley started coverage on RadNet in a report on Friday, June 13th. They issued a “buy” rating and a $69.00 price target for the company. Morgan Stanley upgraded shares of RadNet to an “overweight” rating in a research note on Monday, August 11th. Truist Financial set a $74.00 target price on shares of RadNet in a research report on Thursday, July 10th. Finally, Wall Street Zen upgraded shares of RadNet from a “sell” rating to a “hold” rating in a research note on Saturday, August 16th. Three equities research analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating and one has given a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus price target of $71.60.

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.