RadNet, Inc. (NASDAQ:RDNT) Shares Sold by Robotti Robert

Robotti Robert lessened its stake in RadNet, Inc. (NASDAQ:RDNT) by 30.7% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 193,738 shares of the medical research company’s stock after selling 85,965 shares during the period. RadNet comprises about 2.4% of Robotti Robert’s investment portfolio, making the stock its 11th largest position. Robotti Robert’s holdings in RadNet were worth $13,513,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently added to or reduced their stakes in the company. Raymond James Financial Inc. bought a new stake in shares of RadNet in the 4th quarter worth about $33,090,000. Portolan Capital Management LLC grew its stake in RadNet by 384.8% in the third quarter. Portolan Capital Management LLC now owns 491,358 shares of the medical research company’s stock worth $34,095,000 after purchasing an additional 390,011 shares in the last quarter. Allspring Global Investments Holdings LLC grew its stake in RadNet by 30.4% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 1,475,995 shares of the medical research company’s stock worth $103,532,000 after purchasing an additional 344,146 shares in the last quarter. JB Capital Partners LP increased its holdings in RadNet by 15.9% in the third quarter. JB Capital Partners LP now owns 1,504,061 shares of the medical research company’s stock valued at $104,367,000 after buying an additional 206,850 shares during the last quarter. Finally, JPMorgan Chase & Co. raised its stake in RadNet by 154.8% during the fourth quarter. JPMorgan Chase & Co. now owns 338,843 shares of the medical research company’s stock valued at $23,665,000 after buying an additional 205,846 shares in the last quarter. 77.90% of the stock is owned by institutional investors and hedge funds.

RadNet Stock Up 0.0 %

RDNT stock opened at $50.72 on Thursday. The firm has a market cap of $3.76 billion, a PE ratio of -724.47 and a beta of 1.85. RadNet, Inc. has a 12 month low of $45.82 and a 12 month high of $93.65. The firm has a 50 day simple moving average of $57.96 and a 200 day simple moving average of $67.25. 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 (NASDAQ:RDNT) last announced its quarterly earnings data on Thursday, February 27th. The medical research company reported $0.22 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.21 by $0.01. RadNet had a positive return on equity of 4.29% and a negative net margin of 0.25%. The firm had revenue of $477.10 million during the quarter, compared to the consensus estimate of $459.42 million. Equities research analysts forecast that RadNet, Inc. will post 0.56 earnings per share for the current fiscal year.

Insider Transactions at RadNet

In other RadNet news, COO Norman R. Hames sold 5,000 shares of the company’s stock in a transaction that occurred on Monday, March 17th. The shares were sold at an average price of $49.79, for a total value of $248,950.00. Following the transaction, the chief operating officer now owns 261,959 shares in the company, valued at approximately $13,042,938.61. This represents a 1.87 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, 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 completion of the sale, the director now owns 174,067 shares of the company’s stock, 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 38,000 shares of company stock valued at $1,926,730 over the last three months. 5.12% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the company. Truist Financial reiterated a “buy” rating and issued a $88.00 target price (down previously from $94.00) on shares of RadNet in a research report on Wednesday, January 22nd. Barclays lowered their target price on shares of RadNet from $74.00 to $60.00 and set an “overweight” rating for the company in a research note on Monday. Raymond James upgraded shares of RadNet from an “outperform” rating to a “strong-buy” rating and reduced their price target for the stock from $85.00 to $65.00 in a research report on Wednesday, March 5th. StockNews.com raised shares of RadNet to a “sell” rating in a research report on Wednesday, March 19th. Finally, Jefferies Financial Group reduced their price objective on RadNet from $100.00 to $80.00 and set a “buy” rating for the company in a research report on Wednesday, January 15th. One 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. Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus target price 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.