RadNet (NASDAQ:RDNT) CEO Cornelis Wesdorp Sells 4,750 Shares

RadNet, Inc. (NASDAQ:RDNT) CEO Cornelis Wesdorp sold 4,750 shares of the firm’s stock in a transaction on Tuesday, June 16th. The shares were sold at an average price of $58.11, for a total transaction of $276,022.50. Following the completion of the sale, 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 ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink.

RadNet Stock Up 1.7%

Shares of RadNet stock traded up $0.92 during trading on Thursday, hitting $53.74. 2,522,418 shares of the stock were exchanged, compared to its average volume of 826,904. The company has a debt-to-equity ratio of 0.79, a current ratio of 1.17 and a quick ratio of 1.17. The firm’s 50-day moving average price is $55.88 and its 200 day moving average price is $64.78. The stock has a market cap of $4.23 billion, a price-to-earnings ratio of -298.54 and a beta of 1.41. RadNet, Inc. has a 12-month low of $50.76 and a 12-month high of $85.84.

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

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the company. Weiss Ratings lowered RadNet from a “sell (d)” rating to a “sell (d-)” rating in a research report on Tuesday, May 12th. Jefferies Financial Group restated a “buy” rating and set a $91.00 target price on shares of RadNet in a research note on Tuesday, March 3rd. Finally, Barclays lowered their price target on RadNet from $70.00 to $65.00 and set an “overweight” rating for the company in a report on Wednesday, May 20th. Two equities research analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock currently 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 bought and sold shares of the stock. RTW Investments LP boosted its stake in RadNet by 39.9% in the fourth quarter. RTW Investments LP now owns 3,938,500 shares of the medical research company’s stock valued at $281,012,000 after acquiring an additional 1,122,956 shares in the last quarter. Polar Capital Holdings Plc purchased a new stake in shares of RadNet in the 3rd quarter valued at about $63,423,000. Price T Rowe Associates Inc. MD lifted its holdings in shares of RadNet by 30.3% in the 4th 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 purchasing an additional 627,936 shares during the last quarter. Ameriprise Financial Inc. boosted its position in shares of RadNet by 79.7% in the 2nd quarter. Ameriprise Financial Inc. now owns 1,394,552 shares of the medical research company’s stock valued at $79,364,000 after purchasing an additional 618,392 shares during the period. Finally, Westfield Capital Management Co. LP acquired a new stake in shares of RadNet in the 3rd quarter valued at about $40,073,000. 77.90% of the stock is owned by hedge funds and other institutional investors.

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.