Calamos Advisors LLC Sells 56,155 Shares of RadNet, Inc. (NASDAQ:RDNT)

Calamos Advisors LLC lowered its holdings in shares of RadNet, Inc. (NASDAQ:RDNT - Free Report) by 50.5% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 54,991 shares of the medical research company's stock after selling 56,155 shares during the period. Calamos Advisors LLC owned about 0.07% of RadNet worth $3,841,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the business. Portolan Capital Management LLC lifted its holdings in shares of RadNet by 384.8% during the third quarter. Portolan Capital Management LLC now owns 491,358 shares of the medical research company's stock valued at $34,095,000 after acquiring an additional 390,011 shares during the period. Harbor Capital Advisors Inc. lifted its holdings in shares of RadNet by 130.5% during the third quarter. Harbor Capital Advisors Inc. now owns 402,205 shares of the medical research company's stock valued at $27,909,000 after acquiring an additional 227,713 shares during the period. Cerity Partners LLC lifted its holdings in shares of RadNet by 131.4% during the third quarter. Cerity Partners LLC now owns 387,536 shares of the medical research company's stock valued at $26,891,000 after acquiring an additional 220,068 shares during the period. JB Capital Partners LP lifted its holdings in shares of RadNet by 15.9% during the third quarter. JB Capital Partners LP now owns 1,504,061 shares of the medical research company's stock valued at $104,367,000 after acquiring an additional 206,850 shares during the period. Finally, Allspring Global Investments Holdings LLC lifted its holdings in shares of RadNet by 11.8% during the third quarter. Allspring Global Investments Holdings LLC now owns 1,131,849 shares of the medical research company's stock valued at $78,539,000 after acquiring an additional 119,875 shares during the period. Institutional investors and hedge funds own 77.90% of the company's stock.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the company. Barclays cut their price target on RadNet from $85.00 to $74.00 and set an "overweight" rating for the company in a report on Wednesday, January 22nd. Jefferies Financial Group cut their price target on RadNet from $100.00 to $80.00 and set a "buy" rating for the company in a report on Wednesday, January 15th. Finally, Truist Financial reaffirmed a "buy" rating and issued a $88.00 price target (down from $94.00) on shares of RadNet in a report on Wednesday, January 22nd. One equities research analyst has rated the stock with a sell rating, four have given a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, RadNet presently has an average rating of "Moderate Buy" and a consensus target price of $75.50.

RadNet Trading Down 2.5 %

Shares of RadNet stock traded down $1.59 during trading on Friday, hitting $62.77. 625,481 shares of the company were exchanged, compared to its average volume of 918,427. The firm has a market capitalization of $4.65 billion, a P/E ratio of -896.59 and a beta of 1.79. RadNet, Inc. has a 1-year low of $35.16 and a 1-year high of $93.65. The firm's fifty day moving average price is $70.62 and its 200 day moving average price is $68.95. The company has a debt-to-equity ratio of 0.89, a current ratio of 2.16 and a quick ratio of 2.16.

Insider Transactions at RadNet

In related news, insider Ranjan Jayanathan sold 38,557 shares of the business's stock in a transaction that occurred on Tuesday, November 19th. The stock was sold at an average price of $80.00, for a total value of $3,084,560.00. Following the completion of the transaction, the insider now directly owns 192,724 shares in the company, valued at approximately $15,417,920. The trade was a 16.67 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP David Jeffrey Katz sold 12,300 shares of the business's stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $81.65, for a total value of $1,004,295.00. Following the completion of the transaction, the executive vice president now owns 62,909 shares of the company's stock, valued at $5,136,519.85. This represents a 16.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 5.12% of the company's stock.

RadNet 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.