RadNet, Inc. (NASDAQ:RDNT) CEO Sells $50,520.00 in Stock

RadNet, Inc. (NASDAQ:RDNT) CEO Cornelis Wesdorp sold 1,000 shares of the company’s stock in a transaction that occurred on Friday, March 7th. The shares were sold at an average price of $50.52, for a total value of $50,520.00. Following the completion of the sale, the chief executive officer now owns 55,995 shares in the company, valued at approximately $2,828,867.40. This represents a 1.75 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

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

• On Wednesday, March 5th, Cornelis Wesdorp sold 2,000 shares of RadNet stock. The shares were sold at an average price of $52.58, for a total value of $105,160.00.

RadNet Trading Down 2.5 %

RadNet stock opened at $50.31 on Monday. 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, Inc. has a 12 month low of $42.45 and a 12 month high of $93.65. The stock’s 50 day simple moving average is $63.31 and its two-hundred day simple moving average is $68.67. The firm has a market cap of $3.73 billion, a PE ratio of -718.61 and a beta of 1.85.

RadNet (NASDAQ:RDNT) last released its quarterly earnings data on Thursday, February 27th. The medical research company reported $0.22 EPS for the quarter, topping the consensus estimate of $0.21 by $0.01. The business 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%. Analysts anticipate that RadNet, Inc. will post 0.56 earnings per share for the current year.

Analysts Set New Price Targets

A number of brokerages recently commented on RDNT. Jefferies Financial Group dropped 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. 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 report on Wednesday, January 22nd. Barclays lowered their price objective on RadNet from $85.00 to $74.00 and set an “overweight” rating on the stock in a research report on Wednesday, January 22nd. Finally, Raymond James upgraded RadNet from an “outperform” rating to a “strong-buy” rating and lowered their price objective for the stock from $85.00 to $65.00 in a research report on Wednesday, March 5th. One research analyst has rated the stock with a sell rating, three have assigned a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Buy” and an average price target of $76.75.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in RDNT. Norges Bank acquired a new position in shares of RadNet during the 4th quarter worth approximately $56,381,000. Raymond James Financial Inc. acquired a new position in shares of RadNet during the 4th quarter worth approximately $33,090,000. T. Rowe Price Investment Management Inc. raised its stake in shares of RadNet by 79.3% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 913,691 shares of the medical research company’s stock worth $63,813,000 after buying an additional 404,241 shares during the period. Portolan Capital Management LLC raised its stake in shares of RadNet by 384.8% during the 3rd quarter. Portolan Capital Management LLC now owns 491,358 shares of the medical research company’s stock worth $34,095,000 after buying an additional 390,011 shares during the period. Finally, Tidal Investments LLC raised its stake in shares of RadNet by 7,219.2% during the 4th quarter. Tidal Investments LLC now owns 389,308 shares of the medical research company’s stock worth $27,189,000 after buying an additional 383,989 shares during the period. 77.90% of the stock is owned by institutional investors and hedge funds.

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.