Dimensional Fund Advisors LP Sells 220,728 Shares of RadNet, Inc. (NASDAQ:RDNT)

Dimensional Fund Advisors LP decreased its holdings in RadNet, Inc. (NASDAQ:RDNT - Free Report) by 12.6% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,531,465 shares of the medical research company's stock after selling 220,728 shares during the period. Dimensional Fund Advisors LP owned 2.07% of RadNet worth $106,962,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. USA Financial Formulas bought a new position in RadNet during the fourth quarter valued at approximately $30,000. Fifth Third Bancorp boosted its stake in RadNet by 84.3% during the fourth 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 last quarter. Smartleaf Asset Management LLC boosted its stake in RadNet by 377.0% during the fourth 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 last quarter. Canada Pension Plan Investment Board bought a new position in RadNet during the fourth quarter valued at approximately $105,000. Finally, Twin Tree Management LP bought a new position in RadNet during the fourth quarter valued at approximately $106,000. Institutional investors own 77.90% of the company's stock.

Insiders Place Their Bets

In other news, COO Norman R. Hames sold 5,000 shares of the stock in a transaction on Wednesday, March 19th. The stock was sold at an average price of $50.22, for a total transaction of $251,100.00. Following the transaction, the chief operating officer now owns 251,959 shares of the company's stock, valued at approximately $12,653,380.98. This represents a 1.95 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 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 transaction, the director now directly owns 174,067 shares in the company, valued at $8,849,566.28. The trade was a 12.56 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 38,000 shares of company stock worth $1,926,730 over the last quarter. Company insiders own 5.12% of the company's stock.

RadNet Stock Performance

RDNT stock opened at $50.26 on Monday. The company has a quick ratio of 2.16, a current ratio of 2.16 and a debt-to-equity ratio of 0.89. The business's fifty day simple moving average is $51.71 and its two-hundred day simple moving average is $64.42. RadNet, Inc. has a twelve month low of $45.00 and a twelve month high of $93.65. The firm has a market cap of $3.72 billion, a price-to-earnings ratio of -717.90 and a beta of 1.59.

RadNet (NASDAQ:RDNT - Get Free Report) 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. RadNet had a positive return on equity of 4.29% and a negative net margin of 0.25%. The business had revenue of $477.10 million for the quarter, compared to analyst estimates of $459.42 million. Analysts predict that RadNet, Inc. will post 0.56 earnings per share for the current year.

Analyst Ratings Changes

RDNT has been the subject of a number of research reports. Raymond James raised RadNet from an "outperform" rating to a "strong-buy" rating and dropped their price target for the company from $85.00 to $65.00 in a research note on Wednesday, March 5th. Barclays lowered their price objective on RadNet from $74.00 to $60.00 and set an "overweight" rating for the company in a research note on Monday, March 24th. Truist Financial decreased their price target on RadNet from $88.00 to $74.00 and set a "buy" rating on the stock in a report on Friday, April 11th. StockNews.com raised shares of RadNet to a "sell" rating in a research note on Wednesday, March 19th. Finally, Jefferies Financial Group cut their price objective on shares of RadNet from $100.00 to $80.00 and set a "buy" rating on the stock in a research report on Wednesday, January 15th. One investment 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 stock. According to MarketBeat, the company presently has a consensus rating of "Buy" and an average target price of $69.75.

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.

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