Vontobel Holding Ltd. Cuts Stock Position in RadNet, Inc. (NASDAQ:RDNT)

Vontobel Holding Ltd. trimmed its position in RadNet, Inc. (NASDAQ:RDNT - Free Report) by 41.6% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 9,584 shares of the medical research company's stock after selling 6,822 shares during the quarter. Vontobel Holding Ltd.'s holdings in RadNet were worth $669,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Portolan Capital Management LLC grew 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 worth $34,095,000 after purchasing an additional 390,011 shares during the last quarter. Allspring Global Investments Holdings LLC raised its stake in RadNet by 30.4% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 1,475,995 shares of the medical research company's stock valued at $103,532,000 after acquiring an additional 344,146 shares during the period. Harbor Capital Advisors Inc. raised its stake in RadNet by 130.5% in the 3rd 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 raised its stake in RadNet by 131.4% in the 3rd 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. Finally, JB Capital Partners LP raised its stake in RadNet by 15.9% in the 3rd 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. 77.90% of the stock is currently owned by institutional investors and hedge funds.

RadNet Stock Performance

RDNT stock traded down $2.85 during trading hours on Friday, hitting $59.83. 385,091 shares of the stock were exchanged, compared to its average volume of 770,954. 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, Inc. has a 12 month low of $36.47 and a 12 month high of $93.65. The firm has a market capitalization of $4.43 billion, a P/E ratio of -853.52 and a beta of 1.79. The company has a 50-day simple moving average of $67.38 and a two-hundred day simple moving average of $69.04.

Insider Activity at RadNet

In related news, EVP David Jeffrey Katz sold 12,300 shares of RadNet stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $81.65, for a total transaction of $1,004,295.00. Following the transaction, the executive vice president now owns 62,909 shares of the company's stock, valued at $5,136,519.85. The trade was a 16.35 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 5.12% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on RDNT. Barclays dropped their price target on RadNet from $85.00 to $74.00 and set an "overweight" rating on the stock in a research note on Wednesday, January 22nd. Truist Financial reiterated a "buy" rating and set a $88.00 price objective (down previously from $94.00) on shares of RadNet in a research report on Wednesday, January 22nd. Finally, Jefferies Financial Group lowered their price objective on RadNet from $100.00 to $80.00 and set a "buy" rating on the stock in a research report on Wednesday, January 15th. One analyst has rated the stock with a sell rating, four have issued a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $75.50.

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.