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

RadNet, Inc. (NASDAQ:RDNT) CEO Cornelis Wesdorp sold 2,000 shares of the company’s stock in a transaction that occurred on Wednesday, March 5th. The stock was sold at an average price of $52.58, for a total value of $105,160.00. Following the completion of the sale, the chief executive officer now owns 58,995 shares in the company, valued at approximately $3,101,957.10. This represents a 3.28 % decrease in their position. The transaction was disclosed in a filing with the SEC, 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 stock was sold at an average price of $50.52, for a total value of $50,520.00.

RadNet Trading Down 2.5 %

Shares of RDNT stock opened at $50.31 on Monday. The stock’s fifty day moving average is $63.31 and its two-hundred day moving average is $68.67. The company has a debt-to-equity ratio of 0.89, a quick ratio of 2.16 and a current ratio of 2.16. The firm has a market capitalization of $3.73 billion, a P/E ratio of -718.61 and a beta of 1.85. RadNet, Inc. has a fifty-two week low of $42.45 and a fifty-two week high of $93.65.

RadNet (NASDAQ:RDNT) last announced its quarterly earnings data on Thursday, February 27th. The medical research company reported $0.22 earnings per share for the quarter, beating analysts’ consensus estimates 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 positive return on equity of 4.29% and a negative net margin of 0.25%. Research analysts expect that RadNet, Inc. will post 0.56 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Virtue Capital Management LLC lifted its holdings in RadNet by 6.4% in the 4th quarter. Virtue Capital Management LLC now owns 20,628 shares of the medical research company’s stock valued at $1,441,000 after purchasing an additional 1,239 shares in the last quarter. Squarepoint Ops LLC acquired a new stake in shares of RadNet in the 4th quarter worth $3,407,000. Twinbeech Capital LP acquired a new stake in shares of RadNet in the 4th quarter worth $1,420,000. Two Sigma Advisers LP increased its stake in shares of RadNet by 217.1% in the 4th quarter. Two Sigma Advisers LP now owns 24,100 shares of the medical research company’s stock worth $1,683,000 after acquiring an additional 16,500 shares during the last quarter. Finally, Two Sigma Investments LP increased its stake in shares of RadNet by 46.0% in the 4th quarter. Two Sigma Investments LP now owns 81,065 shares of the medical research company’s stock worth $5,662,000 after acquiring an additional 25,529 shares during the last quarter. Hedge funds and other institutional investors own 77.90% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the company. Jefferies Financial Group decreased their target price on RadNet from $100.00 to $80.00 and set a “buy” rating on the stock in a research report on Wednesday, January 15th. Barclays decreased their target price on RadNet from $85.00 to $74.00 and set an “overweight” rating on the stock in a research report on Wednesday, January 22nd. Raymond James upgraded RadNet from an “outperform” rating to a “strong-buy” rating and decreased their target price for the company from $85.00 to $65.00 in a research report on Wednesday, March 5th. Finally, Truist Financial reiterated a “buy” rating and set a $88.00 target price (down previously from $94.00) on shares of RadNet in a research report on Wednesday, January 22nd. One analyst has rated the stock with a sell rating, three have issued a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average target price 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.