RadNet, Inc. (NASDAQ:RDNT) Shares Sold by Bessemer Group Inc.

Bessemer Group Inc. cut its stake in RadNet, Inc. (NASDAQ:RDNT - Free Report) by 16.8% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 317,348 shares of the medical research company's stock after selling 63,885 shares during the period. Bessemer Group Inc. owned 0.43% of RadNet worth $22,163,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of RDNT. HighTower Advisors LLC boosted its stake in RadNet by 1.8% during the 3rd 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 last quarter. State Street Corp lifted its holdings in RadNet by 1.3% in the third quarter. State Street Corp now owns 2,446,179 shares of the medical research company's stock valued at $169,740,000 after acquiring an additional 30,244 shares during the period. Wolverine Trading LLC grew its stake in shares of RadNet by 28.6% during the 3rd quarter. Wolverine Trading LLC now owns 4,502 shares of the medical research company's stock valued at $312,000 after purchasing an additional 1,002 shares during the period. Barclays PLC increased its position in shares of RadNet by 373.8% during the 3rd quarter. Barclays PLC now owns 116,978 shares of the medical research company's stock valued at $8,118,000 after purchasing an additional 92,291 shares during the last quarter. Finally, Geode Capital Management LLC raised its holdings in RadNet by 0.8% in the 3rd quarter. Geode Capital Management LLC now owns 1,555,214 shares of the medical research company's stock worth $107,936,000 after purchasing an additional 11,613 shares during the period. 77.90% of the stock is owned by institutional investors.

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RadNet Trading Down 0.1 %

RadNet stock traded down $0.05 during midday trading on Monday, reaching $53.36. The stock had a trading volume of 414,505 shares, compared to its average volume of 653,188. RadNet, Inc. has a 52-week low of $45.00 and a 52-week high of $93.65. The company has a fifty day moving average of $54.22 and a 200 day moving average of $65.65. The firm has a market cap of $3.95 billion, a price-to-earnings ratio of -762.18 and a beta of 1.59. The company has a quick ratio of 2.16, a current ratio of 2.16 and a debt-to-equity ratio of 0.89.

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

Wall Street Analyst Weigh In

Several research analysts recently weighed in on RDNT shares. Raymond James raised shares of RadNet from an "outperform" rating to a "strong-buy" rating and dropped their target price for the stock from $85.00 to $65.00 in a report on Wednesday, March 5th. StockNews.com upgraded shares of RadNet to a "sell" rating in a research note on Wednesday, March 19th. Truist Financial cut their price objective on RadNet from $88.00 to $74.00 and set a "buy" rating for the company in a research report on Friday. Barclays decreased their target price on shares of RadNet from $74.00 to $60.00 and set an "overweight" rating on the stock in a research report on Monday, March 24th. Finally, Jefferies Financial Group dropped their price target on RadNet from $100.00 to $80.00 and set a "buy" rating for the company in a research report on Wednesday, January 15th. One analyst has rated the stock with a sell rating, three have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Buy" and a consensus price target of $69.75.

Insider Buying and Selling

In related news, CEO Cornelis Wesdorp sold 1,000 shares of RadNet stock in a transaction dated Friday, March 7th. The stock was 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 directly owns 55,995 shares in the company, valued at $2,828,867.40. The trade was a 1.75 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, COO Norman R. Hames sold 5,000 shares of the firm's stock in a transaction dated Wednesday, March 19th. The shares were sold at an average price of $50.22, for a total transaction of $251,100.00. Following the transaction, the chief operating officer now directly owns 251,959 shares in the company, valued at $12,653,380.98. This trade represents a 1.95 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 38,000 shares of company stock valued at $1,926,730 in the last 90 days. 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.