Advantage Alpha Capital Partners LP Lowers Stock Position in RadNet, Inc. (NASDAQ:RDNT)

Advantage Alpha Capital Partners LP cut its holdings in RadNet, Inc. (NASDAQ:RDNT) by 8.7% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 40,745 shares of the medical research company’s stock after selling 3,897 shares during the quarter. Advantage Alpha Capital Partners LP’s holdings in RadNet were worth $2,846,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Natixis Advisors LLC grew its holdings in RadNet by 11.4% in the third quarter. Natixis Advisors LLC now owns 22,530 shares of the medical research company’s stock worth $1,563,000 after purchasing an additional 2,305 shares during the period. Pathstone Holdings LLC raised its holdings in shares of RadNet by 58.5% during the third quarter. Pathstone Holdings LLC now owns 27,503 shares of the medical research company’s stock valued at $1,908,000 after purchasing an additional 10,151 shares during the last quarter. Jennison Associates LLC bought a new position in shares of RadNet during the 3rd quarter valued at $1,490,000. Connor Clark & Lunn Investment Management Ltd. purchased a new position in RadNet in the third quarter worth about $2,756,000. Finally, Intech Investment Management LLC boosted its holdings in shares of RadNet by 178.3% in the third quarter. Intech Investment Management LLC now owns 21,078 shares of the medical research company’s stock worth $1,463,000 after buying an additional 13,505 shares during the last quarter. 77.90% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other RadNet news, CEO Cornelis Wesdorp sold 1,000 shares of RadNet stock in a transaction on Friday, March 7th. The stock was sold at an average price of $50.52, for a total transaction of $50,520.00. Following the completion of the sale, the chief executive officer now directly owns 55,995 shares of the company’s stock, valued at $2,828,867.40. The trade was a 1.75 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, COO Norman R. Hames sold 5,000 shares of the company’s stock in a transaction on Wednesday, March 19th. The stock was sold at an average price of $50.22, for a total value of $251,100.00. Following the completion of the sale, the chief operating officer now owns 251,959 shares of the company’s stock, valued at $12,653,380.98. This represents a 1.95 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 38,000 shares of company stock valued at $1,926,730 in the last 90 days. Company insiders own 5.12% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently issued reports on RDNT shares. Truist Financial reiterated a “buy” rating and set a $88.00 price objective (down from $94.00) on shares of RadNet in a research note on Wednesday, January 22nd. Raymond James raised RadNet from an “outperform” rating to a “strong-buy” rating and reduced their target price for the stock from $85.00 to $65.00 in a report on Wednesday, March 5th. Jefferies Financial Group decreased their price target on shares of RadNet from $100.00 to $80.00 and set a “buy” rating on the stock in a research note on Wednesday, January 15th. Barclays reduced their target price on shares of RadNet from $85.00 to $74.00 and set an “overweight” rating on the stock in a report on Wednesday, January 22nd. Finally, StockNews.com upgraded RadNet to a “sell” rating in a research report on Wednesday, March 19th. One equities research analyst has rated the stock with a sell rating, three have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average target price of $76.75.

RadNet Price Performance

RadNet stock opened at $49.25 on Monday. The firm has a market capitalization of $3.65 billion, a PE ratio of -703.47 and a beta of 1.85. RadNet, Inc. has a 12-month low of $45.82 and a 12-month high of $93.65. The firm has a 50-day moving average price of $58.78 and a 200-day moving average price of $67.53. 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 announced its earnings results on Thursday, February 27th. The medical research company reported $0.22 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.21 by $0.01. The business had revenue of $477.10 million during the quarter, compared to analyst estimates of $459.42 million. RadNet had a positive return on equity of 4.29% and a negative net margin of 0.25%. As a group, equities research analysts forecast that RadNet, Inc. will post 0.56 EPS for the current year.

RadNet Company Profile

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.