Cornelis Wesdorp Sells 4,750 Shares of RadNet (NASDAQ:RDNT) Stock

RadNet, Inc. (NASDAQ:RDNT) CEO Cornelis Wesdorp sold 4,750 shares of the business’s stock in a transaction dated Tuesday, June 16th. The shares were sold at an average price of $58.11, for a total transaction of $276,022.50. Following the completion of the transaction, the chief executive officer directly owned 69,075 shares of the company’s stock, valued at $4,013,948.25. The trade was a 6.43% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

RadNet Price Performance

NASDAQ:RDNT opened at $53.74 on Friday. RadNet, Inc. has a 12-month low of $50.76 and a 12-month high of $85.84. The firm has a market cap of $4.23 billion, a price-to-earnings ratio of -298.54 and a beta of 1.41. The company’s 50-day moving average is $55.82 and its two-hundred day moving average is $64.50. The company has a current ratio of 1.17, a quick ratio of 1.17 and a debt-to-equity ratio of 0.79.

RadNet (NASDAQ:RDNT) last issued its quarterly earnings results on Monday, May 11th. The medical research company reported ($0.28) EPS for the quarter, missing analysts’ consensus estimates of ($0.14) by ($0.14). The firm had revenue of $575.63 million for the quarter, compared to analysts’ expectations of $557.93 million. RadNet had a positive return on equity of 2.77% and a negative net margin of 0.66%.The business’s quarterly revenue was up 22.1% compared to the same quarter last year. During the same quarter last year, the firm earned ($0.50) earnings per share. Research analysts expect that RadNet, Inc. will post 0.54 EPS for the current year.

Analyst Ratings Changes

RDNT has been the topic of a number of recent analyst reports. Jefferies Financial Group reissued a “buy” rating and set a $91.00 price target on shares of RadNet in a research note on Tuesday, March 3rd. Weiss Ratings downgraded RadNet from a “sell (d)” rating to a “sell (d-)” rating in a research report on Tuesday, May 12th. Finally, Barclays dropped their target price on RadNet from $70.00 to $65.00 and set an “overweight” rating for the company in a research note on Wednesday, May 20th. Two investment analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, RadNet has a consensus rating of “Moderate Buy” and a consensus price target of $87.43.

Hedge Funds Weigh In On RadNet

Institutional investors and hedge funds have recently bought and sold shares of the stock. Geneos Wealth Management Inc. purchased a new position in RadNet during the fourth quarter worth approximately $25,000. Allworth Financial LP grew its stake in shares of RadNet by 346.6% during the 3rd quarter. Allworth Financial LP now owns 393 shares of the medical research company’s stock valued at $30,000 after buying an additional 305 shares during the period. Danske Bank A S acquired a new stake in shares of RadNet during the 3rd quarter worth $30,000. Jones Financial Companies Lllp increased its holdings in shares of RadNet by 62.2% during the 3rd quarter. Jones Financial Companies Lllp now owns 446 shares of the medical research company’s stock worth $34,000 after buying an additional 171 shares during the last quarter. Finally, Eurizon Capital SGR S.p.A. purchased a new position in shares of RadNet in the 4th quarter worth $36,000. Institutional investors and hedge funds own 77.90% of the company’s stock.

About RadNet

RadNet, Inc is a leading independent provider of outpatient diagnostic imaging services in the United States. Through a nationwide network of fixed-site imaging centers and affiliated joint-venture locations, the company delivers a comprehensive suite of radiology services including MRI, CT, PET/CT, ultrasound, X-ray, mammography, bone densitometry, nuclear medicine and interventional radiology procedures. RadNet also offers teleradiology and imaging management solutions to physician practices, hospitals and healthcare systems.

Founded in 1981 and headquartered in Los Angeles, RadNet has expanded its footprint organically and through strategic acquisitions.