RadNet (NASDAQ:RDNT) CEO Cornelis Wesdorp Sells 500 Shares

Key Points

• Cornelis Wesdorp, CEO of RadNet, sold 500 shares of the company's stock for a total of $35,995, resulting in a 0.92% decrease in his holdings.
• RadNet's stock is currently trading at $71.32, down 2.4%, and the company has a market cap of $5.49 billion.
• In the latest quarterly earnings report, RadNet exceeded analysts' expectations with an EPS of $0.31 and revenue of $498.23 million, reflecting an 8.4% increase year-over-year.

RadNet, Inc. (NASDAQ:RDNT - Get Free Report) CEO Cornelis Wesdorp sold 500 shares of the firm's stock in a transaction that occurred on Tuesday, September 9th. The stock was sold at an average price of $71.99, for a total transaction of $35,995.00. Following the transaction, the chief executive officer owned 53,995 shares of the company's stock, valued at approximately $3,887,100.05. The trade was a 0.92% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink.

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

• On Thursday, September 11th, Cornelis Wesdorp sold 500 shares of RadNet stock. The stock was sold at an average price of $72.13, for a total transaction of $36,065.00.
• 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 Trading Up 1.3%

RadNet stock traded up $0.98 during mid-day trading on Monday, hitting $74.99. 985,612 shares of the stock were exchanged, compared to its average volume of 586,183. The company has a quick ratio of 2.00, a current ratio of 2.00 and a debt-to-equity ratio of 0.91. RadNet, Inc. has a 12 month low of $45.00 and a 12 month high of $93.65. The firm's fifty day simple moving average is $63.44 and its two-hundred day simple moving average is $57.10. The stock has a market capitalization of $5.77 billion, a price-to-earnings ratio of -374.93 and a beta of 1.54.

RadNet (NASDAQ:RDNT - Get Free Report) last released its quarterly earnings results on Sunday, August 10th. The medical research company reported $0.31 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.17 by $0.14. The firm had revenue of $498.23 million during the quarter, compared to analyst estimates of $488.06 million. RadNet had a negative net margin of 0.78% and a positive return on equity of 2.41%. The company's revenue was up 8.4% compared to the same quarter last year. During the same quarter last year, the business earned $0.16 EPS. Analysts forecast that RadNet, Inc. will post 0.56 EPS for the current year.

Institutional Trading of RadNet

A number of hedge funds and other institutional investors have recently bought and sold shares of RDNT. Headlands Technologies LLC bought a new stake in RadNet during the 1st quarter valued at $28,000. BNP PARIBAS ASSET MANAGEMENT Holding S.A. bought a new stake in shares of RadNet in the 2nd quarter worth $35,000. State of Wyoming bought a new stake in shares of RadNet in the 2nd quarter worth $58,000. GAMMA Investing LLC grew its stake 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 worth $82,000 after acquiring an additional 300 shares in the last quarter. Finally, Family Legacy Financial Solutions LLC bought a new stake in shares of RadNet in the 2nd quarter worth $85,000. Institutional investors own 77.90% of the company's stock.

Wall Street Analysts Forecast Growth

RDNT has been the subject of several research analyst reports. Truist Financial lifted their price objective on shares of RadNet from $74.00 to $81.00 and gave the company a "buy" rating in a research note on Wednesday, September 3rd. Raymond James Financial reiterated a "strong-buy" rating and issued a $75.00 price objective (up previously from $66.00) on shares of RadNet in a research note on Wednesday, August 13th. B. Riley initiated coverage on shares of RadNet in a research note on Friday, June 13th. They issued a "buy" rating and a $69.00 price objective for the company. Barclays lifted their price objective on shares of RadNet from $60.00 to $79.00 and gave the company an "overweight" rating in a research note on Wednesday, September 3rd. Finally, Zacks Research upgraded shares of RadNet from a "strong sell" rating to a "hold" rating in a research note on Monday, August 18th. Three investment analysts have rated the stock with a Strong Buy rating, four have given a Buy rating and one has assigned a Hold rating to the company's stock. According to MarketBeat, the company has an average rating of "Buy" and an average target price of $76.80.

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.