JB Capital Partners LP Sells 30,000 Shares of RadNet, Inc. (NASDAQ:RDNT)

JB Capital Partners LP decreased its position in RadNet, Inc. (NASDAQ:RDNT - Free Report) by 2.0% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 1,474,061 shares of the medical research company's stock after selling 30,000 shares during the period. RadNet accounts for about 19.7% of JB Capital Partners LP's investment portfolio, making the stock its biggest position. JB Capital Partners LP owned approximately 1.99% of RadNet worth $102,948,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently bought and sold shares of the company. Norges Bank purchased a new position in RadNet in the fourth quarter worth $56,381,000. Raymond James Financial Inc. purchased a new position in RadNet during the 4th quarter worth $33,090,000. Allspring Global Investments Holdings LLC increased its position in RadNet by 30.4% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 1,475,995 shares of the medical research company's stock valued at $103,532,000 after buying an additional 344,146 shares in the last quarter. Clearbridge Investments LLC raised its stake in RadNet by 28.3% in the fourth quarter. Clearbridge Investments LLC now owns 942,082 shares of the medical research company's stock valued at $65,795,000 after buying an additional 207,582 shares during the last quarter. Finally, JPMorgan Chase & Co. boosted its holdings in RadNet by 154.8% in the fourth quarter. JPMorgan Chase & Co. now owns 338,843 shares of the medical research company's stock worth $23,665,000 after acquiring an additional 205,846 shares in the last quarter. Institutional investors own 77.90% of the company's stock.

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RadNet Stock Performance

NASDAQ:RDNT traded up $1.90 during mid-day trading on Wednesday, hitting $49.80. The company's stock had a trading volume of 237,424 shares, compared to its average volume of 909,328. The business's fifty day moving average is $55.29 and its two-hundred day moving average is $66.12. The stock has a market cap of $3.69 billion, a price-to-earnings ratio of -711.30 and a beta of 1.59. 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 1 year low of $45.00 and a 1 year high of $93.65.

RadNet (NASDAQ:RDNT - Get Free Report) last issued its earnings results on Thursday, February 27th. The medical research company reported $0.22 EPS for the quarter, topping analysts' consensus estimates of $0.21 by $0.01. The firm had revenue of $477.10 million for the quarter, compared to the consensus estimate of $459.42 million. RadNet had a positive return on equity of 4.29% and a negative net margin of 0.25%. Analysts anticipate that RadNet, Inc. will post 0.56 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on RDNT. Truist Financial reaffirmed a "buy" rating and issued a $88.00 price objective (down from $94.00) on shares of RadNet in a research report on Wednesday, January 22nd. Raymond James upgraded shares of RadNet from an "outperform" rating to a "strong-buy" rating and lowered their price objective for the stock from $85.00 to $65.00 in a research note on Wednesday, March 5th. Jefferies Financial Group cut 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. Barclays lowered their price target on RadNet from $74.00 to $60.00 and set an "overweight" rating for the company in a research report on Monday, March 24th. Finally, StockNews.com raised RadNet to a "sell" rating in a report on Wednesday, March 19th. One analyst has rated the stock with a sell rating, three have assigned a buy rating and two have given a strong buy rating to the company's stock. According to data from MarketBeat, RadNet currently has a consensus rating of "Buy" and a consensus target price of $73.25.

Insider Transactions at RadNet

In other news, CEO Cornelis Wesdorp sold 1,000 shares of the company's stock in a transaction that occurred on Friday, March 7th. The stock was sold at an average price of $50.52, for a total transaction of $50,520.00. Following the completion of the transaction, the chief executive officer now directly owns 55,995 shares of the company's stock, valued at $2,828,867.40. This represents a 1.75 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, COO Norman R. Hames sold 5,000 shares of RadNet stock in a transaction on Wednesday, March 19th. The shares were sold at an average price of $50.22, for a total transaction of $251,100.00. Following the completion of the sale, the chief operating officer now directly owns 251,959 shares in the company, valued at $12,653,380.98. This represents a 1.95 % 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 valued at $1,926,730 in the last ninety days. 5.12% of the stock is currently owned by corporate insiders.

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.