Cornelis Wesdorp Sells 500 Shares of RadNet (NASDAQ:RDNT) Stock

RadNet, Inc. (NASDAQ:RDNT) CEO Cornelis Wesdorp sold 500 shares of the stock in a transaction on Thursday, September 11th. The stock was sold at an average price of $72.13, for a total transaction of $36,065.00. Following the sale, the chief executive officer directly owned 53,495 shares in the company, valued at $3,858,594.35. This trade represents a 0.93% 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 Tuesday, September 9th, Cornelis Wesdorp sold 500 shares of RadNet stock. The stock was sold at an average price of $71.99, for a total transaction of $35,995.00.
• On Tuesday, August 19th, Cornelis Wesdorp sold 1,500 shares of RadNet stock. The stock was sold at an average price of $66.98, for a total transaction of $100,470.00.

RadNet Stock Performance

Shares of NASDAQ RDNT opened at $74.36 on Wednesday. The company’s fifty day moving average price is $63.82 and its 200 day moving average price is $57.22. RadNet, Inc. has a 1 year low of $45.00 and a 1 year high of $93.65. The company has a market capitalization of $5.72 billion, a PE ratio of -371.78 and a beta of 1.54. The company has a debt-to-equity ratio of 0.91, a quick ratio of 2.00 and a current ratio of 2.00.

RadNet (NASDAQ:RDNT) last announced its quarterly earnings results on Sunday, August 10th. The medical research company reported $0.31 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.17 by $0.14. RadNet had a negative net margin of 0.78% and a positive return on equity of 2.41%. The firm had revenue of $498.23 million for the quarter, compared to the consensus estimate of $488.06 million. During the same period in the prior year, the firm posted $0.16 earnings per share. The firm’s quarterly revenue was up 8.4% compared to the same quarter last year. On average, research analysts predict that RadNet, Inc. will post 0.56 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on RDNT shares. Wall Street Zen raised shares of RadNet from a “sell” rating to a “hold” rating in a report on Saturday, August 16th. Morgan Stanley raised shares of RadNet to an “overweight” rating in a report on Monday, August 11th. Raymond James Financial reaffirmed a “strong-buy” rating and set a $75.00 price objective (up from $66.00) on shares of RadNet in a report on Wednesday, August 13th. Zacks Research raised shares of RadNet from a “strong sell” rating to a “hold” rating in a report on Monday, August 18th. Finally, B. Riley started coverage on shares of RadNet in a report on Friday, June 13th. They set a “buy” rating and a $69.00 price objective on the stock. Three investment analysts have rated the stock with a Strong Buy rating, four have given a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average target price of $76.80.

Institutional Investors Weigh In On RadNet

Hedge funds and other institutional investors have recently bought and sold shares of the company. Zions Bancorporation National Association UT increased its holdings in shares of RadNet by 0.6% in the 2nd quarter. Zions Bancorporation National Association UT now owns 35,081 shares of the medical research company’s stock valued at $1,996,000 after acquiring an additional 204 shares during the period. Amalgamated Bank increased its holdings in shares of RadNet by 1.2% in the 2nd quarter. Amalgamated Bank now owns 18,820 shares of the medical research company’s stock valued at $1,071,000 after acquiring an additional 224 shares during the period. Moran Wealth Management LLC increased its holdings in shares of RadNet by 2.2% in the 1st quarter. Moran Wealth Management LLC now owns 10,643 shares of the medical research company’s stock valued at $529,000 after acquiring an additional 225 shares during the period. Xponance Inc. increased its holdings in shares of RadNet by 5.0% in the 1st quarter. Xponance Inc. now owns 5,010 shares of the medical research company’s stock valued at $249,000 after acquiring an additional 239 shares during the period. Finally, GAMMA Investing LLC increased its holdings in shares of RadNet by 22.3% in the 1st quarter. GAMMA Investing LLC now owns 1,644 shares of the medical research company’s stock valued at $82,000 after acquiring an additional 300 shares during the period. 77.90% of the stock is currently owned by institutional investors and hedge funds.

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.