RadNet (NASDAQ:RDNT) CEO Sells $276,022.50 in Stock

RadNet, Inc. (NASDAQ:RDNT) CEO Cornelis Wesdorp sold 4,750 shares of RadNet stock in a transaction on Tuesday, June 16th. The shares were sold at an average price of $58.11, for a total value of $276,022.50. Following the completion of the transaction, the chief executive officer owned 69,075 shares in the company, valued at $4,013,948.25. The trade was a 6.43% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

RadNet Price Performance

RDNT stock opened at $53.74 on Friday. The company has a market cap of $4.23 billion, a PE ratio of -298.54 and a beta of 1.41. The company has a current ratio of 1.17, a quick ratio of 1.17 and a debt-to-equity ratio of 0.79. The stock has a 50-day moving average price of $55.82 and a two-hundred day moving average price of $64.50. RadNet, Inc. has a 12-month low of $50.76 and a 12-month high of $85.84.

RadNet (NASDAQ:RDNT) last released its quarterly earnings data on Monday, May 11th. The medical research company reported ($0.28) EPS for the quarter, missing analysts’ consensus estimates of ($0.14) by ($0.14). The firm had revenue of $575.63 million during the quarter, compared to analysts’ expectations of $557.93 million. RadNet had a positive return on equity of 2.77% and a negative net margin of 0.66%.The business’s revenue for the quarter was up 22.1% compared to the same quarter last year. During the same quarter last year, the business earned ($0.50) earnings per share. As a group, research analysts predict that RadNet, Inc. will post 0.54 EPS for the current year.

Wall Street Analysts Forecast Growth

RDNT has been the topic of a number of recent research reports. Weiss Ratings cut shares of RadNet from a “sell (d)” rating to a “sell (d-)” rating in a research report on Tuesday, May 12th. Barclays dropped their price objective on shares of RadNet from $70.00 to $65.00 and set an “overweight” rating for the company in a research report on Wednesday, May 20th. Finally, Jefferies Financial Group reissued a “buy” rating and issued a $91.00 target price on shares of RadNet in a research note on Tuesday, March 3rd. Two investment analysts have rated the stock with a Strong Buy rating, six have given a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $87.43.

Institutional Investors Weigh In On RadNet

Institutional investors and hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. raised its holdings in shares of RadNet by 1.3% during the 3rd quarter. Vanguard Group Inc. now owns 7,483,869 shares of the medical research company’s stock valued at $570,346,000 after buying an additional 95,015 shares during the period. RTW Investments LP boosted its holdings in RadNet by 39.9% in the 4th quarter. RTW Investments LP now owns 3,938,500 shares of the medical research company’s stock worth $281,012,000 after acquiring an additional 1,122,956 shares during the period. Beck Mack & Oliver LLC boosted its holdings in RadNet by 0.4% in the 3rd quarter. Beck Mack & Oliver LLC now owns 3,276,774 shares of the medical research company’s stock worth $249,723,000 after acquiring an additional 13,633 shares during the period. Price T Rowe Associates Inc. MD grew its position in RadNet by 30.3% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 2,699,082 shares of the medical research company’s stock valued at $192,581,000 after acquiring an additional 627,936 shares in the last quarter. Finally, State Street Corp grew its position in RadNet by 1.6% in the fourth quarter. State Street Corp now owns 2,579,073 shares of the medical research company’s stock valued at $184,017,000 after acquiring an additional 41,356 shares in the last quarter. Hedge funds and other institutional investors own 77.90% of the company’s stock.

About RadNet

RadNet, Inc is a leading independent provider of outpatient diagnostic imaging services in the United States. Through a nationwide network of fixed-site imaging centers and affiliated joint-venture locations, the company delivers a comprehensive suite of radiology services including MRI, CT, PET/CT, ultrasound, X-ray, mammography, bone densitometry, nuclear medicine and interventional radiology procedures. RadNet also offers teleradiology and imaging management solutions to physician practices, hospitals and healthcare systems.

Founded in 1981 and headquartered in Los Angeles, RadNet has expanded its footprint organically and through strategic acquisitions.