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 RadNet stock in a transaction that occurred on Tuesday, September 9th. The stock was sold at an average price of $71.99, for a total value of $35,995.00. Following the transaction, the chief executive officer directly owned 53,995 shares in the company, valued at approximately $3,887,100.05. This trade represents a 0.92% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

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

• 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 value of $100,470.00.

RadNet Trading Down 2.4%

NASDAQ:RDNT traded down $1.76 on Wednesday, hitting $71.32. 483,409 shares of the stock were exchanged, compared to its average volume of 809,987. The stock has a market cap of $5.49 billion, a PE ratio of -356.58 and a beta of 1.54. The company has a current ratio of 2.00, a quick ratio of 2.00 and a debt-to-equity ratio of 0.91. The stock has a fifty day moving average of $62.02 and a 200-day moving average of $56.69. RadNet, Inc. has a fifty-two week low of $45.00 and a fifty-two week high of $93.65.

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

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Headlands Technologies LLC purchased a new stake in RadNet during the first quarter valued at approximately $28,000. BNP PARIBAS ASSET MANAGEMENT Holding S.A. purchased a new stake in shares of RadNet in the second quarter valued at $35,000. State of Wyoming purchased a new stake in shares of RadNet in the second quarter valued at $58,000. GAMMA Investing LLC increased its stake in 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 buying an additional 300 shares during the period. Finally, Family Legacy Financial Solutions LLC purchased a new position in RadNet in the 2nd quarter worth about $85,000. 77.90% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on RDNT. Raymond James Financial reiterated a "strong-buy" rating and issued a $75.00 price objective (up from $66.00) on shares of RadNet in a research note on Wednesday, August 13th. B. Riley initiated coverage on RadNet in a report on Friday, June 13th. They issued a "buy" rating and a $69.00 price objective for the company. Morgan Stanley upgraded RadNet to an "overweight" rating in a report on Monday, August 11th. Barclays raised their target price 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 report on Monday, August 18th. Three 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. According to data from MarketBeat, the company presently has a consensus rating of "Buy" and a consensus price target of $76.80.

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.

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