Loomis Sayles & Co. L P Sells 24,390 Shares of RadNet, Inc. (NASDAQ:RDNT)

Loomis Sayles & Co. L P cut its holdings in shares of RadNet, Inc. (NASDAQ:RDNT - Free Report) by 2.8% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 834,746 shares of the medical research company's stock after selling 24,390 shares during the period. Loomis Sayles & Co. L P owned approximately 1.13% of RadNet worth $58,298,000 at the end of the most recent quarter.

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

Insider Transactions at RadNet

In related news, CEO Cornelis Wesdorp sold 1,000 shares of the firm's stock in a transaction that occurred on Friday, March 7th. The shares were sold at an average price of $50.52, for a total value of $50,520.00. Following the completion of the sale, the chief executive officer now owns 55,995 shares of the company's stock, valued at $2,828,867.40. This trade represents a 1.75 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director David L. Swartz sold 25,000 shares of the business's 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 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. Over the last 90 days, insiders sold 38,000 shares of company stock valued at $1,926,730. Corporate insiders own 5.12% of the company's stock.

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Analysts Set New Price Targets

RDNT has been the subject of a number of research analyst reports. Raymond James raised 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. Truist Financial reissued a "buy" rating and set a $88.00 target price (down previously from $94.00) on shares of RadNet in a research note on Wednesday, January 22nd. StockNews.com raised shares of RadNet to a "sell" rating in a research note on Wednesday, March 19th. 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. Finally, Barclays reduced their target price on RadNet from $74.00 to $60.00 and set an "overweight" rating for the company in a report on Monday, March 24th. One equities research analyst has rated the stock with a sell rating, three have assigned a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Buy" and an average target price of $73.25.

RadNet Stock Performance

Shares of NASDAQ RDNT traded down $0.69 during mid-day trading on Monday, hitting $48.76. The company had a trading volume of 182,003 shares, compared to its average volume of 899,307. RadNet, Inc. has a 12 month low of $45.82 and a 12 month high of $93.65. The firm has a market cap of $3.61 billion, a P/E ratio of -696.40 and a beta of 1.85. The business's 50-day simple moving average is $57.55 and its 200-day simple moving average is $67.13. 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 - Get Free Report) last posted its earnings results on Thursday, February 27th. The medical research company reported $0.22 earnings per share 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 analysts' expectations of $459.42 million. RadNet had a negative net margin of 0.25% and a positive return on equity of 4.29%. As a group, analysts predict that RadNet, Inc. will post 0.56 earnings per share for the current fiscal year.

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.