Rathbones Group PLC Has $5.06 Million Stock Position in RadNet, Inc. (NASDAQ:RDNT)

Rathbones Group PLC cut its stake in shares of RadNet, Inc. (NASDAQ:RDNT - Free Report) by 28.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 72,506 shares of the medical research company's stock after selling 28,506 shares during the quarter. Rathbones Group PLC owned 0.10% of RadNet worth $5,064,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Invesco Ltd. boosted its position in shares of RadNet by 4.3% in the 4th quarter. Invesco Ltd. now owns 1,731,074 shares of the medical research company's stock valued at $120,898,000 after purchasing an additional 70,673 shares during the period. Bank of Montreal Can boosted its holdings in shares of RadNet by 13.6% in the fourth quarter. Bank of Montreal Can now owns 8,563 shares of the medical research company's stock worth $598,000 after buying an additional 1,026 shares during the period. Dynamic Technology Lab Private Ltd purchased a new position in shares of RadNet in the fourth quarter worth approximately $859,000. Wells Fargo & Company MN raised its holdings in shares of RadNet by 29.4% during the fourth quarter. Wells Fargo & Company MN now owns 80,243 shares of the medical research company's stock valued at $5,604,000 after acquiring an additional 18,231 shares during the period. Finally, Trexquant Investment LP purchased a new stake in shares of RadNet in the 4th quarter valued at approximately $1,316,000. 77.90% of the stock is owned by institutional investors and hedge funds.

RadNet Stock Up 0.8 %

RDNT stock traded up $0.41 during mid-day trading on Friday, hitting $53.41. The stock had a trading volume of 682,392 shares, compared to its average volume of 654,143. RadNet, Inc. has a 1-year low of $45.00 and a 1-year 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 company has a current ratio of 2.16, a quick ratio of 2.16 and a debt-to-equity ratio of 0.89. The stock has a market capitalization of $3.95 billion, a price-to-earnings ratio of -762.89 and a beta of 1.59.

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

Insiders Place Their Bets

In other news, 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 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 approximately $13,042,938.61. The trade was a 1.87 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Cornelis Wesdorp sold 2,000 shares of the firm's stock in a transaction 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 transaction, the chief executive officer now owns 58,995 shares in the company, valued at $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 38,000 shares of company stock valued at $1,926,730 over the last three months. 5.12% of the stock is currently owned by insiders.

Analysts Set New Price Targets

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

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.