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

RadNet, Inc. (NASDAQ:RDNT - Get Free Report) CEO Cornelis Wesdorp sold 1,000 shares of RadNet stock in a transaction 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 transaction, the chief executive officer now owns 55,995 shares of the company's stock, valued at approximately $2,828,867.40. This trade represents a 1.75 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link.

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

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

RadNet Trading Down 2.5 %

RadNet stock traded down $1.27 during trading hours on Friday, reaching $50.31. The stock had a trading volume of 1,115,940 shares, compared to its average volume of 881,878. The company has a debt-to-equity ratio of 0.89, a current ratio of 2.16 and a quick ratio of 2.16. The stock has a market cap of $3.73 billion, a PE ratio of -718.61 and a beta of 1.85. RadNet, Inc. has a 52 week low of $42.45 and a 52 week high of $93.65. The company has a fifty day simple moving average of $63.31 and a 200-day simple moving average of $68.63.

RadNet (NASDAQ:RDNT - Get Free Report) last announced its quarterly earnings results on Thursday, February 27th. The medical research company reported $0.22 EPS for the quarter, topping analysts' consensus estimates of $0.21 by $0.01. The company had revenue of $477.10 million during 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 forecast that RadNet, Inc. will post 0.56 EPS for the current fiscal year.

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Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in RDNT. Covestor Ltd lifted its position in RadNet by 10,875.0% during the third quarter. Covestor Ltd now owns 439 shares of the medical research company's stock valued at $30,000 after buying an additional 435 shares during the period. USA Financial Formulas bought a new position in shares of RadNet in the fourth quarter worth approximately $30,000. Fifth Third Bancorp lifted its position in RadNet by 84.3% in the 4th quarter. Fifth Third Bancorp now owns 667 shares of the medical research company's stock valued at $47,000 after acquiring an additional 305 shares in the last quarter. Peterson Financial Group Inc. bought a new position in shares of RadNet during the third quarter valued at $90,000. Finally, Smartleaf Asset Management LLC boosted its holdings in shares of RadNet by 377.0% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,345 shares of the medical research company's stock valued at $96,000 after acquiring an additional 1,063 shares during the last quarter. Hedge funds and other institutional investors own 77.90% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on RDNT. Truist Financial reiterated a "buy" rating and set a $88.00 price target (down from $94.00) on shares of RadNet in a research report on Wednesday, January 22nd. Barclays decreased their price target on shares of RadNet from $85.00 to $74.00 and set an "overweight" rating on the stock in a report on Wednesday, January 22nd. Jefferies Financial Group lowered their target price on shares of RadNet from $100.00 to $80.00 and set a "buy" rating on the stock in a research note on Wednesday, January 15th. Finally, Raymond James raised RadNet from an "outperform" rating to a "strong-buy" rating and dropped their price target for the stock from $85.00 to $65.00 in a research note on Wednesday. One 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's stock. According to data from MarketBeat, RadNet currently has a consensus rating of "Buy" and an average 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.