RadNet, Inc. (NASDAQ:RDNT) Shares Sold by Rathbones Group PLC

Rathbones Group PLC trimmed its position in shares of RadNet, Inc. (NASDAQ:RDNT) by 28.2% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 72,506 shares of the medical research company’s stock after selling 28,506 shares during the period. Rathbones Group PLC owned 0.10% of RadNet worth $5,064,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. USA Financial Formulas acquired a new stake in RadNet in the 4th quarter valued at approximately $30,000. Fifth Third Bancorp increased its holdings in shares of RadNet by 84.3% during the fourth quarter. Fifth Third Bancorp now owns 667 shares of the medical research company’s stock valued at $47,000 after purchasing an additional 305 shares during the period. Smartleaf Asset Management LLC raised its stake in shares of RadNet by 377.0% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,345 shares of the medical research company’s stock valued at $96,000 after purchasing an additional 1,063 shares in the last quarter. Twin Tree Management LP bought a new stake in shares of RadNet during the fourth quarter valued at about $106,000. Finally, IFP Advisors Inc lifted its holdings in RadNet by 39.1% in the fourth quarter. IFP Advisors Inc now owns 1,697 shares of the medical research company’s stock worth $119,000 after purchasing an additional 477 shares during the period. Institutional investors own 77.90% of the company’s stock.

Insider Buying and Selling

In other RadNet news, Director David L. Swartz sold 25,000 shares of the firm’s stock in a transaction dated Friday, March 7th. The stock was 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 approximately $8,849,566.28. This trade represents a 12.56 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Cornelis Wesdorp sold 2,000 shares of RadNet stock in a transaction dated Wednesday, March 5th. The shares were sold at an average price of $52.58, for a total value of $105,160.00. Following the transaction, the chief executive officer now directly owns 58,995 shares in the company, valued at approximately $3,101,957.10. This trade represents a 3.28 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 38,000 shares of company stock valued at $1,926,730. Company insiders own 5.12% of the company’s stock.

RadNet Stock Performance

Shares of NASDAQ RDNT opened at $49.29 on Tuesday. RadNet, Inc. has a 52-week low of $45.00 and a 52-week high of $93.65. The stock has a market capitalization of $3.65 billion, a price-to-earnings ratio of -704.04 and a beta of 1.59. The company has a quick ratio of 2.16, a current ratio of 2.16 and a debt-to-equity ratio of 0.89. The stock’s fifty day simple moving average is $56.04 and its 200 day simple moving average is $66.40.

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

Wall Street Analyst Weigh In

RDNT has been the topic of a number of recent analyst reports. Raymond James upgraded shares of RadNet from an “outperform” rating to a “strong-buy” rating and dropped their price target for the stock from $85.00 to $65.00 in a research report on Wednesday, March 5th. Barclays decreased their price target on RadNet from $74.00 to $60.00 and set an “overweight” rating for the company in a research note on Monday, March 24th. StockNews.com raised RadNet to a “sell” rating in a research note on Wednesday, March 19th. Jefferies Financial Group decreased their target price on RadNet from $100.00 to $80.00 and set a “buy” rating for the company in a research note on Wednesday, January 15th. Finally, Truist Financial reiterated a “buy” rating and issued a $88.00 price target (down from $94.00) on shares of RadNet in a research report on Wednesday, January 22nd. One equities research 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 stock. According to data from MarketBeat, RadNet currently has a consensus rating of “Buy” and a consensus target price of $73.25.

RadNet 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.