Insider Selling: RadNet, Inc. (NASDAQ:RDNT) CEO Sells $105,160.00 in Stock

RadNet, Inc. (NASDAQ:RDNT) CEO Cornelis Wesdorp sold 2,000 shares of RadNet stock in a transaction on Wednesday, March 5th. The stock was sold at an average price of $52.58, for a total value of $105,160.00. Following the transaction, the chief executive officer now owns 58,995 shares in the company, valued at approximately $3,101,957.10. This represents a 3.28 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at 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 stock was sold at an average price of $50.52, for a total transaction of $50,520.00.

RadNet Stock Down 2.5 %

Shares of RadNet stock traded down $1.27 during trading hours on Friday, reaching $50.31. 1,115,940 shares of the company were exchanged, compared to its average volume of 881,878. The firm has a market cap of $3.73 billion, a PE ratio of -718.61 and a beta of 1.85. The company has a debt-to-equity ratio of 0.89, a quick ratio of 2.16 and a current ratio of 2.16. RadNet, Inc. has a 1 year low of $42.45 and a 1 year high of $93.65. The stock’s fifty day moving average is $63.31 and its 200 day moving average is $68.58.

RadNet (NASDAQ:RDNT) last issued its quarterly earnings results on Thursday, February 27th. The medical research company reported $0.22 earnings per share for the quarter, topping the consensus estimate of $0.21 by $0.01. The company had revenue of $477.10 million for the quarter, compared to the consensus estimate of $459.42 million. RadNet had a positive return on equity of 4.29% and a negative net margin of 0.25%. As a group, equities research analysts forecast that RadNet, Inc. will post 0.56 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on RDNT. Jefferies Financial Group cut their price target on shares of RadNet from $100.00 to $80.00 and set a “buy” rating for the company in a report on Wednesday, January 15th. Raymond James upgraded RadNet from an “outperform” rating to a “strong-buy” rating and reduced their target price for the company from $85.00 to $65.00 in a research report on Wednesday. Truist Financial reissued a “buy” rating and set a $88.00 price objective (down from $94.00) on shares of RadNet in a research report on Wednesday, January 22nd. Finally, Barclays lowered their target price on shares of RadNet from $85.00 to $74.00 and set an “overweight” rating for the company in a research note on Wednesday, January 22nd. 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. According to data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus price target of $76.75.

Institutional Trading of RadNet

Several hedge funds have recently added to or reduced their stakes in RDNT. Wealth Enhancement Advisory Services LLC purchased a new stake in shares of RadNet in the 3rd quarter valued at approximately $389,000. Nisa Investment Advisors LLC increased its holdings in RadNet by 321.6% in the third quarter. Nisa Investment Advisors LLC now owns 3,575 shares of the medical research company’s stock valued at $248,000 after buying an additional 2,727 shares during the last quarter. Hanseatic Management Services Inc. raised its stake in RadNet by 4.4% in the third quarter. Hanseatic Management Services Inc. now owns 20,851 shares of the medical research company’s stock valued at $1,447,000 after buying an additional 883 shares in the last quarter. Principal Financial Group Inc. increased its holdings in shares of RadNet by 8.5% in the 3rd quarter. Principal Financial Group Inc. now owns 1,506,545 shares of the medical research company’s stock valued at $104,539,000 after acquiring an additional 118,501 shares during the last quarter. Finally, Covestor Ltd raised its position 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. Institutional investors and hedge funds own 77.90% of the company’s stock.

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.