Rathbones Group PLC cut its stake in shares of RadNet, Inc. (NASDAQ:RDNT – Free Report) by 27.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 41,328 shares of the medical research company’s stock after selling 15,678 shares during the period. Rathbones Group PLC owned 0.05% of RadNet worth $2,949,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Geneos Wealth Management Inc. purchased a new stake in RadNet during the fourth quarter valued at approximately $25,000. Allworth Financial LP raised its position in RadNet by 346.6% during the third quarter. Allworth Financial LP now owns 393 shares of the medical research company’s stock valued at $30,000 after purchasing an additional 305 shares during the period. Danske Bank A S purchased a new stake in RadNet during the third quarter valued at approximately $30,000. Jones Financial Companies Lllp raised its position in RadNet by 62.2% during the third quarter. Jones Financial Companies Lllp now owns 446 shares of the medical research company’s stock valued at $34,000 after purchasing an additional 171 shares during the period. Finally, State of Wyoming purchased a new stake in RadNet during the second quarter valued at approximately $58,000. 77.90% of the stock is currently owned by hedge funds and other institutional investors.
RadNet Trading Down 0.1%
Shares of NASDAQ RDNT opened at $54.40 on Friday. RadNet, Inc. has a fifty-two week low of $50.76 and a fifty-two week high of $85.84. The company has a market cap of $4.28 billion, a price-to-earnings ratio of -302.21 and a beta of 1.43. The business’s 50 day moving average price is $57.40 and its 200-day moving average price is $67.94. The company has a debt-to-equity ratio of 0.79, a quick ratio of 1.17 and a current ratio of 1.17.
Wall Street Analysts Forecast Growth
A number of equities research analysts have issued reports on RDNT shares. Barclays decreased their price objective on RadNet from $70.00 to $65.00 and set an “overweight” rating on the stock in a research report on Wednesday. Weiss Ratings downgraded RadNet from a “sell (d)” rating to a “sell (d-)” rating in a research report on Tuesday, May 12th. Finally, Jefferies Financial Group restated a “buy” rating and set a $91.00 price objective on shares of RadNet in a research report on Tuesday, March 3rd. Two equities research analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, RadNet has an average rating of “Moderate Buy” and a consensus price target of $87.43.
View Our Latest Research Report on RDNT
Insider Buying and Selling
In other RadNet news, insider Alma Gregory Sorensen sold 15,000 shares of the firm’s stock in a transaction on Wednesday, March 18th. The stock was sold at an average price of $62.15, for a total transaction of $932,250.00. Following the transaction, the insider directly owned 1,208,923 shares in the company, valued at $75,134,564.45. This trade represents a 1.23% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 5.60% of the stock is owned by insiders.
RadNet Company Profile
RadNet, Inc is a leading independent provider of outpatient diagnostic imaging services in the United States. Through a nationwide network of fixed-site imaging centers and affiliated joint-venture locations, the company delivers a comprehensive suite of radiology services including MRI, CT, PET/CT, ultrasound, X-ray, mammography, bone densitometry, nuclear medicine and interventional radiology procedures. RadNet also offers teleradiology and imaging management solutions to physician practices, hospitals and healthcare systems.
Founded in 1981 and headquartered in Los Angeles, RadNet has expanded its footprint organically and through strategic acquisitions.
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