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

Bessemer Group Inc. cut its stake in shares of RadNet, Inc. (NASDAQ:RDNT) by 16.8% during the 4th quarter, HoldingsChannel.com reports. The fund owned 317,348 shares of the medical research company’s stock after selling 63,885 shares during the period. Bessemer Group Inc.’s holdings in RadNet were worth $22,163,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. HighTower Advisors LLC lifted its position in shares of 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 purchasing an additional 136 shares in the last quarter. Highland Capital Management LLC boosted its position in RadNet by 6.5% in the 4th quarter. Highland Capital Management LLC now owns 3,307 shares of the medical research company’s stock valued at $231,000 after buying an additional 202 shares during the last quarter. Summit Financial LLC grew its stake in shares of RadNet by 2.4% during the fourth quarter. Summit Financial LLC now owns 11,111 shares of the medical research company’s stock valued at $776,000 after acquiring an additional 262 shares in the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd increased its position in shares of 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. Finally, Fifth Third Bancorp boosted its holdings in RadNet by 84.3% in 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 last quarter. Hedge funds and other institutional investors own 77.90% of the company’s stock.

RadNet Trading Down 1.1 %

Shares of RDNT stock opened at $53.00 on Friday. The firm has a market capitalization of $3.92 billion, a PE ratio of -757.03 and a beta of 1.59. The company has a debt-to-equity ratio of 0.89, a quick ratio of 2.16 and a current ratio of 2.16. RadNet, Inc. has a 1 year low of $45.00 and a 1 year high of $93.65. The stock has a fifty day moving average of $54.49 and a two-hundred day moving average of $65.79.

RadNet (NASDAQ:RDNT) last released its earnings results on Thursday, February 27th. The medical research company reported $0.22 EPS for the quarter, beating the consensus estimate of $0.21 by $0.01. The firm had revenue of $477.10 million for the quarter, compared to analysts’ expectations 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, research analysts expect that RadNet, Inc. will post 0.56 EPS for the current year.

Insider Buying and Selling

In other RadNet news, CEO Cornelis Wesdorp sold 2,000 shares of RadNet stock in a transaction dated Wednesday, March 5th. The stock was 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 of the company’s stock, valued at $3,101,957.10. The trade was a 3.28 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director David L. Swartz sold 25,000 shares of the stock in a transaction on Friday, March 7th. The stock was sold at an average price of $50.84, for a total value of $1,271,000.00. Following the sale, the director now owns 174,067 shares of the company’s stock, valued at approximately $8,849,566.28. This represents a 12.56 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 38,000 shares of company stock worth $1,926,730. Corporate insiders own 5.12% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have issued reports on the company. Raymond James raised RadNet from an “outperform” rating to a “strong-buy” rating and cut their target price for the company from $85.00 to $65.00 in a research report on Wednesday, March 5th. Truist Financial reaffirmed a “buy” rating and set a $88.00 target price (down previously from $94.00) on shares of RadNet in a report on Wednesday, January 22nd. Barclays lowered their price objective on shares of RadNet from $74.00 to $60.00 and set an “overweight” rating for the company in a research report on Monday, March 24th. Jefferies Financial Group dropped their target price on RadNet from $100.00 to $80.00 and set a “buy” rating on the stock in a research report on Wednesday, January 15th. Finally, StockNews.com raised shares of RadNet to a “sell” rating in a report on Wednesday, March 19th. One investment analyst has rated the stock with a sell rating, three have assigned a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus price target of $73.25.

RadNet Company 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.