Insider Selling: RadNet, Inc. (NASDAQ:RDNT) CEO Sells 2,000 Shares of Stock

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

RadNet Price Performance

RDNT stock traded down $1.27 during trading hours on Friday, hitting $50.31. 1,115,940 shares of the stock traded hands, compared to its average volume of 881,878. The company has a current ratio of 2.16, a quick ratio of 2.16 and a debt-to-equity ratio of 0.89. The stock has a 50-day simple moving average of $63.31 and a 200 day simple moving average of $68.63. RadNet, Inc. has a one year low of $42.45 and a one year high of $93.65. The company has a market cap of $3.73 billion, a P/E ratio of -718.61 and a beta of 1.85.

RadNet (NASDAQ:RDNT - Get Free Report) last posted its quarterly earnings data on Thursday, February 27th. The medical research company reported $0.22 earnings per share for the quarter, beating the consensus estimate of $0.21 by $0.01. RadNet had a negative net margin of 0.25% and a positive return on equity of 4.29%. The company had revenue of $477.10 million during the quarter, compared to analyst estimates of $459.42 million. Equities analysts forecast that RadNet, Inc. will post 0.56 earnings per share for the current year.

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Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Covestor Ltd boosted its stake in shares of RadNet by 10,875.0% during the 3rd quarter. Covestor Ltd now owns 439 shares of the medical research company's stock worth $30,000 after acquiring an additional 435 shares in the last quarter. USA Financial Formulas purchased a new stake in RadNet during the fourth quarter valued at about $30,000. Fifth Third Bancorp boosted its holdings in shares of RadNet by 84.3% in the fourth quarter. Fifth Third Bancorp now owns 667 shares of the medical research company's stock worth $47,000 after buying an additional 305 shares during the period. Peterson Financial Group Inc. purchased a new position in shares of RadNet in the third quarter worth approximately $90,000. Finally, Smartleaf Asset Management LLC increased its position in shares of RadNet by 377.0% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,345 shares of the medical research company's stock worth $96,000 after acquiring an additional 1,063 shares in the last quarter. Institutional investors own 77.90% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on RDNT shares. Truist Financial reissued a "buy" rating and issued a $88.00 price target (down previously from $94.00) on shares of RadNet in a research note on Wednesday, January 22nd. Raymond James upgraded shares of 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. Barclays lowered 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, Jefferies Financial Group reduced their price target on shares of RadNet from $100.00 to $80.00 and set a "buy" rating for the company in a research note on Wednesday, January 15th. One analyst has rated the stock with a sell rating, three have given a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Buy" and a consensus price target 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.