Whittier Trust Co. of Nevada Inc. Has $7.42 Million Position in RadNet, Inc. (NASDAQ:RDNT)

Whittier Trust Co. of Nevada Inc. raised its stake in shares of RadNet, Inc. (NASDAQ:RDNT) by 5.6% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 106,295 shares of the medical research company’s stock after buying an additional 5,654 shares during the period. Whittier Trust Co. of Nevada Inc.’s holdings in RadNet were worth $7,424,000 as of its most recent SEC filing.

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

Insiders Place Their Bets

In other news, CEO Cornelis Wesdorp sold 2,000 shares of the business’s stock in a transaction dated Wednesday, March 5th. The shares were sold at an average price of $52.58, for a total transaction of $105,160.00. Following the transaction, the chief executive officer now owns 58,995 shares in the company, valued at approximately $3,101,957.10. The trade was a 3.28 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director David L. Swartz sold 25,000 shares of the business’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 transaction, the director now owns 174,067 shares in the company, valued at approximately $8,849,566.28. The trade was a 12.56 % decrease in their position. The disclosure for this sale can be found here. Insiders 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 Stock Down 2.0 %

RadNet stock opened at $49.71 on Friday. The firm has a market cap of $3.68 billion, a price-to-earnings ratio of -710.04 and a beta of 1.85. The company has a debt-to-equity ratio of 0.89, a current ratio of 2.16 and a quick ratio of 2.16. RadNet, Inc. has a fifty-two week low of $45.82 and a fifty-two week high of $93.65. The firm has a fifty day moving average price of $59.17 and a two-hundred day moving average price of $67.57.

RadNet (NASDAQ:RDNT) last released its 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. The firm had revenue of $477.10 million during the quarter, compared to analyst estimates of $459.42 million. RadNet had a negative net margin of 0.25% and a positive return on equity of 4.29%. As a group, analysts forecast that RadNet, Inc. will post 0.56 earnings per share for the current year.

Wall Street Analyst Weigh In

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

About RadNet

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.