RadNet, Inc. (NASDAQ:RDNT) Shares Sold by Royce & Associates LP

Royce & Associates LP lowered its stake in RadNet, Inc. (NASDAQ:RDNT) by 5.6% during the fourth quarter, Holdings Channel.com reports. The fund owned 101,989 shares of the medical research company’s stock after selling 6,050 shares during the quarter. Royce & Associates LP’s holdings in RadNet were worth $7,123,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Raymond James Financial Inc. purchased a new position in RadNet during the fourth quarter valued at $33,090,000. Portolan Capital Management LLC lifted its stake in RadNet by 384.8% in the 3rd quarter. Portolan Capital Management LLC now owns 491,358 shares of the medical research company’s stock valued at $34,095,000 after buying an additional 390,011 shares in the last quarter. Allspring Global Investments Holdings LLC boosted its holdings in RadNet by 30.4% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 1,475,995 shares of the medical research company’s stock worth $103,532,000 after buying an additional 344,146 shares during the last quarter. Cerity Partners LLC increased its stake in RadNet by 131.4% during the 3rd quarter. Cerity Partners LLC now owns 387,536 shares of the medical research company’s stock worth $26,891,000 after buying an additional 220,068 shares in the last quarter. Finally, JB Capital Partners LP raised its holdings in shares of RadNet by 15.9% during the third quarter. JB Capital Partners LP now owns 1,504,061 shares of the medical research company’s stock valued at $104,367,000 after acquiring an additional 206,850 shares during the last quarter. Hedge funds and other institutional investors own 77.90% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on RDNT shares. StockNews.com raised RadNet to a “sell” rating in a research note on Wednesday. Barclays lowered their target price on shares of RadNet from $85.00 to $74.00 and set an “overweight” rating on the stock in a research note on Wednesday, January 22nd. Truist Financial reiterated a “buy” rating and issued a $88.00 target price (down from $94.00) on shares of RadNet in a research report on Wednesday, January 22nd. Jefferies Financial Group lowered their price target on shares of RadNet from $100.00 to $80.00 and set a “buy” rating on the stock in a research report on Wednesday, January 15th. Finally, Raymond James upgraded shares of RadNet from an “outperform” rating to a “strong-buy” rating and cut their price objective for the company from $85.00 to $65.00 in a report on Wednesday, March 5th. One analyst has rated the stock with a sell rating, three have assigned a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus target price of $76.75.

RadNet Trading Down 1.2 %

Shares of RDNT stock opened at $48.45 on Wednesday. RadNet, Inc. has a twelve month low of $44.08 and a twelve month high of $93.65. The stock has a market cap of $3.59 billion, a price-to-earnings ratio of -692.04 and a beta of 1.85. The company’s 50-day moving average price is $60.05 and its 200-day moving average price is $67.82. The company has a current ratio of 2.16, a quick ratio of 2.16 and a debt-to-equity ratio of 0.89.

RadNet (NASDAQ:RDNT) last posted its quarterly earnings results on Thursday, February 27th. The medical research company reported $0.22 earnings per share for the quarter, beating the consensus estimate of $0.21 by $0.01. RadNet had a negative net margin of 0.25% and a positive return on equity of 4.29%. The business had revenue of $477.10 million during the quarter, compared to analysts’ expectations of $459.42 million. As a group, equities analysts predict that RadNet, Inc. will post 0.56 earnings per share for the current year.

Insider Activity

In other RadNet news, Director David L. Swartz sold 25,000 shares of RadNet stock in a transaction dated Friday, March 7th. The shares were sold at an average price of $50.84, for a total transaction of $1,271,000.00. Following the completion of the sale, the director now directly owns 174,067 shares in the company, valued at $8,849,566.28. This trade represents a 12.56 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Cornelis Wesdorp sold 2,000 shares of the company’s stock in a transaction that occurred on Wednesday, March 5th. The stock was sold at an average price of $52.58, for a total transaction of $105,160.00. Following the completion of the transaction, the chief executive officer now owns 58,995 shares in the company, valued at approximately $3,101,957.10. This represents a 3.28 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 28,000 shares of company stock valued at $1,426,680 in the last quarter. Insiders own 5.12% of the company’s stock.

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.