RadNet, Inc. (NASDAQ:RDNT) CEO Sells $105,160.00 in Stock

RadNet, Inc. (NASDAQ:RDNT) CEO Cornelis Wesdorp sold 2,000 shares of RadNet stock in a transaction 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 sale, the chief executive officer now 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 sale was disclosed in a legal filing with the SEC, which is available at this hyperlink.

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 Down 2.5 %

RadNet stock opened at $50.31 on Friday. The firm has a market capitalization of $3.73 billion, a price-to-earnings ratio of -718.61 and a beta of 1.85. The firm’s fifty day moving average price is $63.31 and its two-hundred day moving average price is $68.58. RadNet, Inc. has a 1-year low of $42.45 and a 1-year high of $93.65. 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 (NASDAQ:RDNT) last issued 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. The firm had revenue of $477.10 million during the quarter, compared to analysts’ expectations of $459.42 million. RadNet had a negative net margin of 0.25% and a positive return on equity of 4.29%. On average, equities research analysts predict that RadNet, Inc. will post 0.56 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research firms have issued reports on RDNT. Jefferies Financial Group cut their price objective on shares of RadNet from $100.00 to $80.00 and set a “buy” rating for the company in a report on Wednesday, January 15th. Truist Financial reiterated a “buy” rating and set a $88.00 price objective (down from $94.00) on shares of RadNet in a research report on Wednesday, January 22nd. Barclays cut their target price on shares of RadNet from $85.00 to $74.00 and set an “overweight” rating on the stock in a research note on Wednesday, January 22nd. Finally, Raymond James raised shares of 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. One equities research analyst has rated the stock with a sell rating, three have assigned a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus target price of $76.75.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. HighTower Advisors LLC boosted its holdings in RadNet by 1.8% during the third quarter. HighTower Advisors LLC now owns 7,861 shares of the medical research company’s stock worth $545,000 after purchasing an additional 136 shares during the last quarter. Chartwell Investment Partners LLC boosted its holdings in RadNet by 0.8% during the third quarter. Chartwell Investment Partners LLC now owns 24,883 shares of the medical research company’s stock worth $1,726,000 after purchasing an additional 193 shares during the last quarter. Highland Capital Management LLC boosted its holdings in RadNet by 6.5% during the fourth quarter. Highland Capital Management LLC now owns 3,307 shares of the medical research company’s stock worth $231,000 after purchasing an additional 202 shares during the last quarter. Summit Investment Advisors Inc. boosted its stake in RadNet by 3.3% in the fourth quarter. Summit Investment Advisors Inc. now owns 6,917 shares of the medical research company’s stock valued at $483,000 after acquiring an additional 219 shares during the last quarter. Finally, Summit Financial LLC boosted its stake in RadNet by 2.4% in the fourth quarter. Summit Financial LLC now owns 11,111 shares of the medical research company’s stock valued at $776,000 after acquiring an additional 262 shares during the last quarter. 77.90% of the stock is currently owned by institutional investors and hedge funds.

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.