RadNet, Inc. (NASDAQ:RDNT) is Portolan Capital Management LLC's 10th Largest Position

Portolan Capital Management LLC reduced its holdings in shares of RadNet, Inc. (NASDAQ:RDNT - Free Report) by 13.6% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 424,340 shares of the medical research company's stock after selling 67,018 shares during the period. RadNet comprises 2.0% of Portolan Capital Management LLC's portfolio, making the stock its 10th biggest position. Portolan Capital Management LLC owned about 0.57% of RadNet worth $29,636,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. HighTower Advisors LLC boosted its holdings in shares of RadNet by 1.8% in the third quarter. HighTower Advisors LLC now owns 7,861 shares of the medical research company's stock valued at $545,000 after purchasing an additional 136 shares during the period. Wolverine Trading LLC increased its stake in shares of RadNet by 28.6% during the third quarter. Wolverine Trading LLC now owns 4,502 shares of the medical research company's stock valued at $312,000 after buying an additional 1,002 shares during the period. Barclays PLC raised its holdings in shares of RadNet by 373.8% in the third quarter. Barclays PLC now owns 116,978 shares of the medical research company's stock valued at $8,118,000 after acquiring an additional 92,291 shares in the last quarter. Geode Capital Management LLC lifted its stake in RadNet by 0.8% in the third quarter. Geode Capital Management LLC now owns 1,555,214 shares of the medical research company's stock worth $107,936,000 after acquiring an additional 11,613 shares during the period. Finally, Sanctuary Advisors LLC bought a new position in RadNet during the 3rd quarter worth about $211,000. Hedge funds and other institutional investors own 77.90% of the company's stock.

Insider Buying and Selling

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

Analyst Ratings Changes

A number of research firms have recently issued reports on RDNT. Truist Financial dropped their price objective on shares of RadNet from $88.00 to $74.00 and set a "buy" rating on the stock in a research note on Friday, April 11th. Raymond James raised 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. StockNews.com upgraded RadNet to a "sell" rating in a research note on Wednesday, March 19th. 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. Finally, Barclays lowered their target price on shares of RadNet from $74.00 to $60.00 and set an "overweight" rating for the company in a research note on Monday, March 24th. One investment analyst has rated the stock with a sell rating, three have issued a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Buy" and an average target price of $69.75.

RadNet Stock Performance

Shares of RadNet stock traded down $0.74 during midday trading on Friday, hitting $49.78. The company had a trading volume of 704,085 shares, compared to its average volume of 660,320. The stock has a market cap of $3.69 billion, a price-to-earnings ratio of -711.04 and a beta of 1.59. RadNet, Inc. has a 12-month low of $45.00 and a 12-month 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 company has a fifty day simple moving average of $52.98 and a 200 day simple moving average of $65.09.

RadNet (NASDAQ:RDNT - Get Free Report) last posted its quarterly earnings data on Thursday, February 27th. The medical research company reported $0.22 EPS for the quarter, topping the consensus estimate of $0.21 by $0.01. The business had revenue of $477.10 million during the quarter, compared to the consensus estimate 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.

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.