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

RadNet, Inc. (NASDAQ:RDNT) CEO Cornelis Wesdorp sold 4,750 shares of the firm’s stock in a transaction that occurred on 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 sale, the chief executive officer owned 69,075 shares in the company, valued at $4,013,948.25. The trade was a 6.43% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink.

RadNet Stock Performance

RDNT opened at $53.74 on Friday. The company has a current ratio of 1.17, a quick ratio of 1.17 and a debt-to-equity ratio of 0.79. The business’s 50 day moving average is $55.86 and its 200-day moving average is $64.57. The stock has a market cap of $4.23 billion, a PE ratio of -298.54 and a beta of 1.41. RadNet, Inc. has a twelve month low of $50.76 and a twelve month high of $85.84.

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

Hedge Funds Weigh In On RadNet

Hedge funds have recently modified their holdings of the company. Vanguard Group Inc. raised its stake in shares of RadNet by 1.3% in the 3rd quarter. Vanguard Group Inc. now owns 7,483,869 shares of the medical research company’s stock worth $570,346,000 after buying an additional 95,015 shares in the last quarter. RTW Investments LP boosted its stake in RadNet by 39.9% during the fourth quarter. RTW Investments LP now owns 3,938,500 shares of the medical research company’s stock valued at $281,012,000 after buying an additional 1,122,956 shares in the last quarter. Beck Mack & Oliver LLC boosted its stake in RadNet by 0.4% during the third quarter. Beck Mack & Oliver LLC now owns 3,276,774 shares of the medical research company’s stock valued at $249,723,000 after buying an additional 13,633 shares in the last quarter. Price T Rowe Associates Inc. MD grew its holdings in RadNet by 30.3% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 2,699,082 shares of the medical research company’s stock worth $192,581,000 after acquiring an additional 627,936 shares during the period. Finally, State Street Corp grew its holdings in RadNet by 1.6% during the fourth quarter. State Street Corp now owns 2,579,073 shares of the medical research company’s stock worth $184,017,000 after acquiring an additional 41,356 shares during the period. 77.90% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

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

RadNet Company Profile

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.