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LOS ANGELES—Wesdorp Cornelis, the President and CEO of Digital Health at RadNet , Inc. (NASDAQ:RDNT), recently sold a total of $258,140 worth of common stock in a series of transactions. The sales, disclosed in a recent SEC filing, occurred over three consecutive days from March 5 to March 7, 2025. The timing is notable as RadNet’s stock has experienced significant volatility, with shares down approximately 28% year-to-date and trading at a P/E ratio of 1,330.
Cornelis sold a total of 5,000 shares at prices ranging from $50.52 to $52.58 per share. After these transactions, Cornelis retains ownership of 55,995 shares in the company. The sales were executed directly and are part of routine portfolio adjustments by the executive. According to InvestingPro analysis, RadNet’s current market capitalization stands at $3.73 billion, with the company maintaining strong liquidity as evidenced by a current ratio of 2.12.
RadNet, based in Los Angeles, is a leader in providing high-quality diagnostic imaging services through a network of outpatient imaging centers. The company has demonstrated solid revenue growth of 13.2% in the last twelve months, generating $1.83 billion in revenue. For deeper insights into RadNet’s valuation and growth prospects, including 13 additional ProTips, investors can access the comprehensive Pro Research Report available on InvestingPro.
In other recent news, RadNet has reported its fourth-quarter 2024 earnings, revealing a revenue increase of 13.5% to $477.1 million, though it missed earnings per share expectations, reporting $0.07 against a forecast of $0.20. The company’s digital health segment showed notable growth, with revenues increasing by 28.1%. Meanwhile, Raymond (NSE:RYMD) James upgraded RadNet’s stock rating to Strong Buy, despite reducing the price target from $85 to $65, citing a more appealing valuation at the current level. Jefferies also adjusted its price target for RadNet to $76 from $80, maintaining a Buy rating. Analyst Brian Tanquilut from Jefferies noted that RadNet’s management guidance for 2025 EBITDA fell short due to non-recurring issues like adverse weather conditions. Despite these challenges, RadNet’s digital health revenues are expected to reach $80-$90 million in 2025, with a projected growth rate of 30%. The company is focusing on expanding its digital health infrastructure and cloud-native platforms, which are anticipated to drive future growth.
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