RadNet, Inc. (NASDAQ:RDNT) Shares Sold by Cerity Partners LLC

Cerity Partners LLC reduced its holdings in RadNet, Inc. (NASDAQ:RDNT) by 42.3% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 223,707 shares of the medical research company’s stock after selling 163,829 shares during the quarter. Cerity Partners LLC owned approximately 0.30% of RadNet worth $15,523,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. HighTower Advisors LLC increased its stake in RadNet by 1.8% during the third quarter. HighTower Advisors LLC now owns 7,861 shares of the medical research company’s stock worth $545,000 after acquiring an additional 136 shares during the last quarter. Highland Capital Management LLC increased its stake in RadNet by 6.5% during the fourth quarter. Highland Capital Management LLC now owns 3,307 shares of the medical research company’s stock worth $231,000 after acquiring an additional 202 shares during the last quarter. Summit Financial LLC increased its stake in RadNet by 2.4% during the fourth quarter. Summit Financial LLC now owns 11,111 shares of the medical research company’s stock worth $776,000 after acquiring an additional 262 shares during the last quarter. Virtue Capital Management LLC increased its stake in RadNet by 1.4% during the third quarter. Virtue Capital Management LLC now owns 19,389 shares of the medical research company’s stock worth $1,345,000 after acquiring an additional 264 shares during the last quarter. Finally, Sumitomo Mitsui DS Asset Management Company Ltd increased its stake in RadNet by 4.3% during the fourth quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 7,389 shares of the medical research company’s stock worth $516,000 after acquiring an additional 302 shares during the last quarter. 77.90% of the stock is currently owned by institutional investors and hedge funds.

RadNet Trading Up 11.9 %

Shares of RDNT opened at $53.59 on Thursday. The company has a market capitalization of $3.97 billion, a P/E ratio of -765.46 and a beta of 1.59. RadNet, Inc. has a one year low of $45.00 and a one year high of $93.65. The company has a debt-to-equity ratio of 0.89, a quick ratio of 2.16 and a current ratio of 2.16. The stock has a 50-day moving average price of $54.76 and a 200 day moving average price of $65.91.

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

Analysts Set New Price Targets

RDNT has been the subject of several research analyst reports. Truist Financial restated a “buy” rating and set a $88.00 price target (down from $94.00) on shares of RadNet in a research note on Wednesday, January 22nd. Raymond James upgraded RadNet from an “outperform” rating to a “strong-buy” rating and lowered their target price for the company from $85.00 to $65.00 in a research note on Wednesday, March 5th. Jefferies Financial Group lowered 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. Barclays lowered their target price on RadNet from $74.00 to $60.00 and set an “overweight” rating for the company in a research note on Monday, March 24th. Finally, StockNews.com upgraded RadNet to a “sell” rating in a research note on Wednesday, March 19th. One research analyst has rated the stock with a sell rating, three have assigned a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, RadNet currently has an average rating of “Buy” and a consensus price target of $73.25.

Insiders Place Their Bets

In other RadNet news, Director David L. Swartz sold 25,000 shares of the stock in a transaction that occurred on 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 transaction, the director now owns 174,067 shares of the company’s stock, valued at $8,849,566.28. This trade represents a 12.56 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Cornelis Wesdorp sold 2,000 shares of the stock in a transaction that occurred on Wednesday, March 5th. The stock was 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 represents a 3.28 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 38,000 shares of company stock valued at $1,926,730 in the last quarter. Insiders own 5.12% of the company’s stock.

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.