Knights of Columbus Asset Advisors LLC Reduces Stake in RadNet, Inc. (NASDAQ:RDNT)

Knights of Columbus Asset Advisors LLC reduced its position in shares of RadNet, Inc. (NASDAQ:RDNT - Free Report) by 21.3% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 35,472 shares of the medical research company's stock after selling 9,587 shares during the quarter. Knights of Columbus Asset Advisors LLC's holdings in RadNet were worth $2,477,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. USA Financial Formulas bought a new position in shares of RadNet during the 4th quarter valued at approximately $30,000. Fifth Third Bancorp increased its holdings in shares of RadNet by 84.3% in the 4th quarter. Fifth Third Bancorp now owns 667 shares of the medical research company's stock worth $47,000 after buying an additional 305 shares during the last quarter. Smartleaf Asset Management LLC raised its position 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 purchasing an additional 1,063 shares during the period. Twin Tree Management LP purchased a new stake in RadNet during the 4th quarter valued at $106,000. Finally, IFP Advisors Inc raised its stake in shares of RadNet by 39.1% in the fourth quarter. IFP Advisors Inc now owns 1,697 shares of the medical research company's stock valued at $119,000 after acquiring an additional 477 shares during the period. 77.90% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

RDNT has been the topic of several recent analyst reports. Barclays reduced their price target on RadNet from $74.00 to $60.00 and set an "overweight" rating on the stock in a report on Monday. StockNews.com upgraded RadNet to a "sell" rating in a report on Wednesday, March 19th. Jefferies Financial Group reduced their price objective on RadNet from $100.00 to $80.00 and set a "buy" rating on the stock in a report on Wednesday, January 15th. Raymond James upgraded RadNet from an "outperform" rating to a "strong-buy" rating and lowered their target price for the stock from $85.00 to $65.00 in a report on Wednesday, March 5th. Finally, Truist Financial reissued a "buy" rating and set a $88.00 price target (down previously from $94.00) on shares of RadNet in a research report on Wednesday, January 22nd. One analyst has rated the stock with a sell rating, three have given a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of "Buy" and an average target price of $73.25.

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RadNet Stock Down 0.1 %

RDNT stock traded down $0.05 during trading on Thursday, hitting $50.67. 823,399 shares of the company's stock traded hands, compared to its average volume of 616,016. The firm has a market capitalization of $3.75 billion, a P/E ratio of -723.75 and a beta of 1.85. RadNet, Inc. has a 1 year low of $45.82 and a 1 year high of $93.65. 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 has a fifty day simple moving average of $57.96 and a two-hundred day simple moving average of $67.25.

RadNet (NASDAQ:RDNT - Get Free Report) last announced its quarterly earnings results on Thursday, February 27th. The medical research company reported $0.22 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.21 by $0.01. The business 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%. Sell-side analysts anticipate that RadNet, Inc. will post 0.56 EPS for the current year.

Insider Buying and Selling at RadNet

In related news, COO Norman R. Hames sold 5,000 shares of the stock in a transaction that occurred on Monday, March 17th. The shares were sold at an average price of $49.79, for a total transaction of $248,950.00. Following the completion of the sale, the chief operating officer now owns 261,959 shares of the company's stock, valued at $13,042,938.61. This represents a 1.87 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Cornelis Wesdorp sold 2,000 shares of RadNet stock in a transaction on Wednesday, March 5th. The stock was sold at an average price of $52.58, for a total transaction of $105,160.00. Following the completion of the transaction, the chief executive officer now directly owns 58,995 shares in the company, valued at $3,101,957.10. This represents a 3.28 % 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 valued at $1,926,730. 5.12% of the stock is currently owned by insiders.

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.