WCM Investment Management LLC lowered its stake in shares of RadNet, Inc. (NASDAQ:RDNT – Free Report) by 4.0% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 257,378 shares of the medical research company’s stock after selling 10,846 shares during the period. WCM Investment Management LLC’s holdings in RadNet were worth $14,346,000 at the end of the most recent quarter.
Other large investors also recently made changes to their positions in the company. RTW Investments LP grew its stake in shares of RadNet by 39.9% in the fourth quarter. RTW Investments LP now owns 3,938,500 shares of the medical research company’s stock valued at $281,012,000 after buying an additional 1,122,956 shares in the last quarter. Polar Capital Holdings Plc bought a new stake in RadNet during the third quarter worth $63,423,000. Price T Rowe Associates Inc. MD raised its position in RadNet by 30.3% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 2,699,082 shares of the medical research company’s stock worth $192,581,000 after acquiring an additional 627,936 shares in the last quarter. Ameriprise Financial Inc. lifted its stake in RadNet by 79.7% in the second quarter. Ameriprise Financial Inc. now owns 1,394,552 shares of the medical research company’s stock valued at $79,364,000 after acquiring an additional 618,392 shares during the last quarter. Finally, Defiance ETFs LLC acquired a new stake in RadNet in the fourth quarter valued at $37,019,000. Institutional investors and hedge funds own 77.90% of the company’s stock.
RadNet Stock Down 2.4%
RDNT opened at $60.68 on Tuesday. The stock’s fifty day simple moving average is $58.08 and its 200 day simple moving average is $62.62. RadNet, Inc. has a 1-year low of $50.76 and a 1-year high of $85.84. The stock has a market cap of $4.77 billion, a PE ratio of -337.09 and a beta of 1.37. The company has a current ratio of 1.17, a quick ratio of 1.17 and a debt-to-equity ratio of 0.79.
Insider Activity
In other RadNet news, Director David L. Swartz sold 2,699 shares of the stock in a transaction dated Thursday, June 18th. The shares were sold at an average price of $53.89, for a total value of $145,449.11. Following the transaction, the director directly owned 177,013 shares of the company’s stock, valued at $9,539,230.57. This represents a 1.50% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Cornelis Wesdorp sold 4,750 shares of the firm’s stock in a transaction that occurred on Tuesday, June 16th. The stock was sold at an average price of $58.11, for a total transaction of $276,022.50. Following the sale, the chief executive officer owned 69,075 shares of the company’s stock, valued at $4,013,948.25. This trade represents a 6.43% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 5.60% of the stock is owned by corporate insiders.
Wall Street Analyst Weigh In
Several research analysts have recently weighed in on the stock. Zacks Research lowered shares of RadNet from a “hold” rating to a “strong sell” rating in a research note on Monday, July 13th. Weiss Ratings downgraded shares of RadNet from a “sell (d)” rating to a “sell (d-)” rating in a research note on Tuesday, May 12th. Finally, Barclays reduced their price target on RadNet from $70.00 to $65.00 and set an “overweight” rating for the company in a report on Wednesday, May 20th. Two research analysts have rated the stock with a Strong Buy rating, six have given a Buy rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, RadNet has an average rating of “Moderate Buy” and an average price target of $87.43.
View Our Latest Analysis on RadNet
About RadNet
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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