RadNet, Inc. (NASDAQ:RDNT) Shares Sold by E. Ohman J or Asset Management AB

E. Ohman J or Asset Management AB cut its holdings in shares of RadNet, Inc. (NASDAQ:RDNT - Free Report) by 28.9% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 30,958 shares of the medical research company's stock after selling 12,600 shares during the quarter. E. Ohman J or Asset Management AB's holdings in RadNet were worth $2,162,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. USA Financial Formulas purchased a new position in RadNet in the 4th quarter worth approximately $30,000. Covestor Ltd increased its holdings in shares of RadNet by 10,875.0% in the third quarter. Covestor Ltd now owns 439 shares of the medical research company's stock valued at $30,000 after purchasing an additional 435 shares during the last quarter. Fifth Third Bancorp lifted its position in RadNet by 84.3% during the fourth quarter. Fifth Third Bancorp now owns 667 shares of the medical research company's stock worth $47,000 after buying an additional 305 shares in the last quarter. Highline Wealth Partners LLC acquired a new position in RadNet during the third quarter worth $68,000. Finally, Peterson Financial Group Inc. purchased a new stake in RadNet in the 3rd quarter valued at $90,000. Hedge funds and other institutional investors own 77.90% of the company's stock.

Analysts Set New Price Targets

Several research analysts have recently commented on RDNT shares. Truist Financial reiterated a "buy" rating and set a $88.00 price target (down previously from $94.00) on shares of RadNet in a report on Wednesday, January 22nd. Barclays reduced their target price on shares of RadNet from $85.00 to $74.00 and set an "overweight" rating on the stock in a research note on Wednesday, January 22nd. Finally, Jefferies Financial Group dropped their price target 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. One analyst has rated the stock with a sell rating, four have issued a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $75.50.

RadNet Trading Down 2.5 %

RDNT traded down $1.59 on Friday, hitting $62.77. The company had a trading volume of 625,481 shares, compared to its average volume of 918,427. The company's fifty day moving average price is $70.62 and its 200 day moving average price is $68.95. RadNet, Inc. has a 1 year low of $35.16 and a 1 year high of $93.65. The company has a current ratio of 2.16, a quick ratio of 2.16 and a debt-to-equity ratio of 0.89. The firm has a market cap of $4.65 billion, a P/E ratio of -896.59 and a beta of 1.79.

Insider Activity

In related news, insider Ranjan Jayanathan sold 38,557 shares of RadNet stock in a transaction that occurred on Tuesday, November 19th. The shares were sold at an average price of $80.00, for a total value of $3,084,560.00. Following the completion of the sale, the insider now owns 192,724 shares in the company, valued at approximately $15,417,920. This trade represents a 16.67 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP David Jeffrey Katz sold 12,300 shares of the business's stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $81.65, for a total value of $1,004,295.00. Following the completion of the sale, the executive vice president now directly owns 62,909 shares in the company, valued at approximately $5,136,519.85. The trade was a 16.35 % decrease in their position. The disclosure for this sale can be found here. Insiders own 5.12% of the company's stock.

RadNet 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.