RadNet, Inc. (NASDAQ:RDNT) Shares Sold by Connor Clark & Lunn Investment Management Ltd.

Connor Clark & Lunn Investment Management Ltd. lowered its position in RadNet, Inc. (NASDAQ:RDNT - Free Report) by 18.6% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 32,314 shares of the medical research company's stock after selling 7,406 shares during the period. Connor Clark & Lunn Investment Management Ltd.'s holdings in RadNet were worth $2,257,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also added to or reduced their stakes in the company. USA Financial Formulas purchased a new position in shares of RadNet during the fourth quarter worth approximately $30,000. Fifth Third Bancorp increased its position in shares of RadNet by 84.3% during the fourth quarter. Fifth Third Bancorp now owns 667 shares of the medical research company's stock worth $47,000 after acquiring an additional 305 shares during the period. Smartleaf Asset Management LLC increased its position in shares of RadNet by 377.0% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,345 shares of the medical research company's stock worth $96,000 after acquiring an additional 1,063 shares during the period. IFP Advisors Inc increased its position in shares of RadNet by 39.1% during the fourth quarter. IFP Advisors Inc now owns 1,697 shares of the medical research company's stock worth $119,000 after acquiring an additional 477 shares during the period. Finally, AlphaQuest LLC increased its position in shares of RadNet by 14,726.7% during the fourth quarter. AlphaQuest LLC now owns 2,224 shares of the medical research company's stock worth $155,000 after acquiring an additional 2,209 shares during the period. Institutional investors own 77.90% of the company's stock.

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Insider Buying and Selling at RadNet

In other RadNet news, COO Norman R. Hames sold 5,000 shares of the firm's stock in a transaction that occurred on Monday, March 17th. The shares were sold at an average price of $49.79, for a total value of $248,950.00. Following the completion of the sale, the chief operating officer now directly owns 261,959 shares in the company, valued at $13,042,938.61. This trade represents a 1.87 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Cornelis Wesdorp sold 2,000 shares of the firm's stock in a transaction that occurred on Wednesday, March 5th. The shares were sold at an average price of $52.58, for a total transaction of $105,160.00. Following the completion of the sale, the chief executive officer now owns 58,995 shares of the company's stock, valued at approximately $3,101,957.10. This trade represents a 3.28 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 38,000 shares of company stock worth $1,926,730 over the last three months. Corporate insiders own 5.12% of the company's stock.

RadNet Stock Down 0.9 %

RDNT stock traded down $0.46 during trading on Friday, hitting $49.25. 1,319,962 shares of the company's stock traded hands, compared to its average volume of 619,992. The firm has a market capitalization of $3.65 billion, a P/E ratio of -703.47 and a beta of 1.85. The business has a fifty day simple moving average of $58.78 and a two-hundred day simple moving average of $67.46. 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, Inc. has a 1 year low of $45.82 and a 1 year high of $93.65.

RadNet (NASDAQ:RDNT - Get Free Report) last announced its earnings results on Thursday, February 27th. The medical research company reported $0.22 earnings per share for the quarter, beating the consensus estimate of $0.21 by $0.01. The company 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%. Sell-side analysts anticipate that RadNet, Inc. will post 0.56 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on RDNT shares. Jefferies Financial Group reduced their target price 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. Truist Financial reaffirmed a "buy" rating and set a $88.00 target price (down from $94.00) on shares of RadNet in a research report on Wednesday, January 22nd. Raymond James raised shares of RadNet from an "outperform" rating to a "strong-buy" rating and reduced their target price for the stock from $85.00 to $65.00 in a research report on Wednesday, March 5th. Barclays cut their price objective on shares of RadNet from $85.00 to $74.00 and set an "overweight" rating on the stock in a report on Wednesday, January 22nd. Finally, StockNews.com raised shares of RadNet to a "sell" rating in a report on Wednesday. One equities research analyst has rated the stock with a sell rating, three have given a buy rating and two have given a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of "Buy" and an average target price of $76.75.

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.