Cerity Partners LLC Sells 163,829 Shares of RadNet, Inc. (NASDAQ:RDNT)

Cerity Partners LLC decreased its holdings in shares of RadNet, Inc. (NASDAQ:RDNT - Free Report) by 42.3% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 223,707 shares of the medical research company's stock after selling 163,829 shares during the quarter. Cerity Partners LLC owned about 0.30% of RadNet worth $15,523,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently made changes to their positions in the company. HighTower Advisors LLC grew its position in shares of 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 in the last quarter. Highland Capital Management LLC boosted its stake in RadNet by 6.5% during the fourth quarter. Highland Capital Management LLC now owns 3,307 shares of the medical research company's stock valued at $231,000 after buying an additional 202 shares during the period. Summit Financial LLC grew its position in RadNet by 2.4% during the fourth quarter. Summit Financial LLC now owns 11,111 shares of the medical research company's stock worth $776,000 after buying an additional 262 shares in the last quarter. Virtue Capital Management LLC increased its stake in RadNet by 1.4% in the 3rd quarter. Virtue Capital Management LLC now owns 19,389 shares of the medical research company's stock worth $1,345,000 after acquiring an additional 264 shares during the last quarter. Finally, Sumitomo Mitsui DS Asset Management Company Ltd raised its holdings in shares of RadNet by 4.3% in the 4th quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 7,389 shares of the medical research company's stock valued at $516,000 after acquiring an additional 302 shares in the last quarter. Hedge funds and other institutional investors own 77.90% of the company's stock.

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Analyst Ratings Changes

Several research analysts have recently commented on the company. StockNews.com raised RadNet to a "sell" rating in a report on Wednesday, March 19th. Raymond James raised shares of RadNet from an "outperform" rating to a "strong-buy" rating and cut their price target for the stock from $85.00 to $65.00 in a research note on Wednesday, March 5th. Barclays lowered their price objective 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. Jefferies Financial Group cut their target price on shares of RadNet from $100.00 to $80.00 and set a "buy" rating for the company in a research report on Wednesday, January 15th. Finally, Truist Financial lowered their price target on RadNet from $88.00 to $74.00 and set a "buy" rating on the stock in a research report on Friday. One investment 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. According to data from MarketBeat.com, the stock currently has a consensus rating of "Buy" and a consensus target price of $69.75.

RadNet Trading Up 0.3 %

Shares of RDNT traded up $0.14 during mid-day trading on Monday, reaching $53.55. The company's stock had a trading volume of 221,556 shares, compared to its average volume of 652,500. RadNet, Inc. has a 52 week low of $45.00 and a 52 week high of $93.65. The stock has a market cap of $3.96 billion, a PE ratio of -764.89 and a beta of 1.59. The company's fifty day moving average price is $54.22 and its two-hundred day moving average price is $65.65. The company has a current ratio of 2.16, a quick ratio of 2.16 and a debt-to-equity ratio of 0.89.

RadNet (NASDAQ:RDNT - Get Free Report) last posted its quarterly earnings results 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. RadNet had a negative net margin of 0.25% and a positive return on equity of 4.29%. The business had revenue of $477.10 million during the quarter, compared to the consensus estimate of $459.42 million. On average, analysts predict that RadNet, Inc. will post 0.56 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, COO Norman R. Hames sold 5,000 shares of the stock in a transaction that occurred on Wednesday, March 19th. The stock was sold at an average price of $50.22, for a total transaction of $251,100.00. Following the completion of the sale, the chief operating officer now owns 251,959 shares of the company's stock, valued at approximately $12,653,380.98. This represents a 1.95 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Cornelis Wesdorp sold 2,000 shares of RadNet stock in a transaction on Wednesday, March 5th. The stock was sold at an average price of $52.58, for a total transaction of $105,160.00. Following the completion of the transaction, the chief executive officer now directly owns 58,995 shares in the company, valued at approximately $3,101,957.10. The trade was a 3.28 % 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 worth $1,926,730 in the last ninety days. 5.12% of the stock is owned by insiders.

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.