Wellington Management Group LLP Sells 157,224 Shares of RadNet, Inc. (NASDAQ:RDNT)

Wellington Management Group LLP decreased its position in RadNet, Inc. (NASDAQ:RDNT - Free Report) by 30.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 361,523 shares of the medical research company's stock after selling 157,224 shares during the quarter. Wellington Management Group LLP owned 0.49% of RadNet worth $25,249,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. The Manufacturers Life Insurance Company lifted its position in RadNet by 3.5% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 38,796 shares of the medical research company's stock worth $2,692,000 after buying an additional 1,323 shares in the last quarter. BNP Paribas Financial Markets raised its holdings in RadNet by 128.2% during the third quarter. BNP Paribas Financial Markets now owns 15,447 shares of the medical research company's stock worth $1,072,000 after acquiring an additional 8,677 shares in the last quarter. HighTower Advisors LLC boosted its position in RadNet by 1.8% during the third 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 during the last quarter. State Street Corp grew its stake in RadNet by 1.3% in the third quarter. State Street Corp now owns 2,446,179 shares of the medical research company's stock valued at $169,740,000 after purchasing an additional 30,244 shares in the last quarter. Finally, Wolverine Trading LLC increased its position in shares of RadNet by 28.6% during the 3rd quarter. Wolverine Trading LLC now owns 4,502 shares of the medical research company's stock worth $312,000 after purchasing an additional 1,002 shares during the last quarter. 77.90% of the stock is currently owned by institutional investors.

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Analyst Ratings Changes

A number of equities analysts have weighed in on the company. Jefferies Financial Group lowered their price target on RadNet from $100.00 to $80.00 and set a "buy" rating on the stock in a research report on Wednesday, January 15th. StockNews.com upgraded RadNet to a "sell" rating in a report on Wednesday, March 19th. Raymond James upgraded shares of RadNet from an "outperform" rating to a "strong-buy" rating and dropped their price objective for the stock from $85.00 to $65.00 in a research note on Wednesday, March 5th. Truist Financial reduced their target price on RadNet from $88.00 to $74.00 and set a "buy" rating on the stock in a report on Friday. Finally, Barclays cut their target price on RadNet from $74.00 to $60.00 and set an "overweight" rating for the company in a research note on Monday, March 24th. One investment analyst has rated the stock with a sell rating, three have issued a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Buy" and a consensus target price of $69.75.

Insiders Place Their Bets

In related news, Director David L. Swartz sold 25,000 shares of RadNet stock in a transaction dated Friday, March 7th. The stock was sold at an average price of $50.84, for a total value of $1,271,000.00. Following the completion of the sale, the director now owns 174,067 shares of the company's stock, valued at approximately $8,849,566.28. This trade represents a 12.56 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, COO Norman R. Hames sold 5,000 shares of RadNet stock in a transaction dated 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 transaction, the chief operating officer now owns 251,959 shares of the company's stock, valued at $12,653,380.98. The trade was a 1.95 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 38,000 shares of company stock valued at $1,926,730 in the last three months. 5.12% of the stock is currently owned by insiders.

RadNet Trading Up 0.8 %

RDNT traded up $0.41 during midday trading on Friday, hitting $53.41. 682,392 shares of the company were exchanged, compared to its average volume of 653,168. The firm has a market capitalization of $3.95 billion, a P/E ratio of -762.89 and a beta of 1.59. RadNet, Inc. has a 1-year low of $45.00 and a 1-year high of $93.65. The company has a quick ratio of 2.16, a current ratio of 2.16 and a debt-to-equity ratio of 0.89. The firm's 50 day moving average price is $54.22 and its 200-day moving average price is $65.67.

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

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.