American Century Companies Inc. Sells 206,017 Shares of RadNet, Inc. (NASDAQ:RDNT)

American Century Companies Inc. lessened its holdings in shares of RadNet, Inc. (NASDAQ:RDNT - Free Report) by 49.6% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 209,412 shares of the medical research company's stock after selling 206,017 shares during the quarter. American Century Companies Inc. owned 0.28% of RadNet worth $14,625,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Whittier Trust Co. of Nevada Inc. raised its stake in shares of RadNet by 5.6% in the fourth quarter. Whittier Trust Co. of Nevada Inc. now owns 106,295 shares of the medical research company's stock worth $7,424,000 after purchasing an additional 5,654 shares during the last quarter. Whittier Trust Co. raised its position in RadNet by 4.5% in the 4th quarter. Whittier Trust Co. now owns 206,783 shares of the medical research company's stock valued at $14,442,000 after buying an additional 8,862 shares during the last quarter. Northwest & Ethical Investments L.P. raised its position in RadNet by 19.0% in the 4th quarter. Northwest & Ethical Investments L.P. now owns 4,475 shares of the medical research company's stock valued at $312,000 after buying an additional 714 shares during the last quarter. Xponance Inc. lifted its stake in RadNet by 10.4% during the 4th quarter. Xponance Inc. now owns 4,771 shares of the medical research company's stock valued at $333,000 after acquiring an additional 451 shares in the last quarter. Finally, Cibc World Markets Corp purchased a new position in RadNet during the 4th quarter worth $432,000. Institutional investors and hedge funds own 77.90% of the company's stock.

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Analysts Set New Price Targets

A number of research analysts recently weighed in on the stock. Raymond James raised shares of RadNet from an "outperform" rating to a "strong-buy" rating and dropped their price target for the company from $85.00 to $65.00 in a research report 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 note on Wednesday, January 15th. Truist Financial reaffirmed a "buy" rating and set a $88.00 price target (down from $94.00) on shares of RadNet in a research report on Wednesday, January 22nd. StockNews.com raised RadNet to a "sell" rating in a research report on Wednesday, March 19th. Finally, Barclays decreased their target price on RadNet from $74.00 to $60.00 and set an "overweight" rating for the company in a research report on Monday, March 24th. One 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 company's stock. According to MarketBeat, the company currently has an average rating of "Buy" and an average price target of $73.25.

RadNet Stock Performance

NASDAQ RDNT traded down $0.81 on Friday, hitting $48.70. 1,157,538 shares of the stock traded hands, compared to its average volume of 911,769. The firm has a market capitalization of $3.61 billion, a price-to-earnings ratio of -695.61 and a beta of 1.85. The business's fifty day moving average is $56.62 and its two-hundred day moving average is $66.67. The company has a debt-to-equity ratio of 0.89, a quick ratio of 2.16 and a current ratio of 2.16. RadNet, Inc. has a 12 month low of $45.82 and a 12 month high of $93.65.

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

Insider Activity

In related news, CEO Cornelis Wesdorp sold 1,000 shares of the business'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 transaction of $50,520.00. Following the completion of the transaction, the chief executive officer now owns 55,995 shares of the company's stock, valued at approximately $2,828,867.40. The trade was a 1.75 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Norman R. Hames sold 5,000 shares of the business's stock in a transaction 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 transaction, the chief operating officer now owns 261,959 shares of the company's stock, valued at $13,042,938.61. This trade represents a 1.87 % 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 quarter. Company insiders own 5.12% of the company's stock.

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.