Whittier Trust Co. of Nevada Inc. Has $7.42 Million Stock Holdings in RadNet, Inc. (NASDAQ:RDNT)

Whittier Trust Co. of Nevada Inc. increased its holdings in RadNet, Inc. (NASDAQ:RDNT - Free Report) by 5.6% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 106,295 shares of the medical research company's stock after purchasing an additional 5,654 shares during the period. Whittier Trust Co. of Nevada Inc. owned approximately 0.14% of RadNet worth $7,424,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. HighTower Advisors LLC raised its holdings in shares of RadNet by 1.8% in the 3rd quarter. HighTower Advisors LLC now owns 7,861 shares of the medical research company's stock worth $545,000 after buying an additional 136 shares in the last quarter. Highland Capital Management LLC raised 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 worth $231,000 after acquiring an additional 202 shares in the last quarter. Virtue Capital Management LLC lifted its holdings in shares of RadNet by 1.4% during the third quarter. Virtue Capital Management LLC now owns 19,389 shares of the medical research company's stock valued at $1,345,000 after acquiring an additional 264 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd boosted its stake 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 purchasing an additional 302 shares in the last quarter. Finally, Fifth Third Bancorp grew its holdings in shares of RadNet by 84.3% in the 4th quarter. Fifth Third Bancorp now owns 667 shares of the medical research company's stock worth $47,000 after purchasing an additional 305 shares during the last quarter. Institutional investors own 77.90% of the company's stock.

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Insider Activity

In other RadNet news, CEO Cornelis Wesdorp sold 1,000 shares of the company's stock in a transaction on Friday, March 7th. The shares were sold at an average price of $50.52, for a total transaction of $50,520.00. Following the completion of the sale, the chief executive officer now owns 55,995 shares in the company, valued at approximately $2,828,867.40. The trade was a 1.75 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, COO Norman R. Hames sold 5,000 shares of the firm's stock in a transaction on Monday, March 17th. The stock was sold at an average price of $49.79, for a total value of $248,950.00. Following the completion of the transaction, the chief operating officer now owns 261,959 shares in the company, valued at $13,042,938.61. This represents a 1.87 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 38,000 shares of company stock valued at $1,926,730. 5.12% of the stock is currently owned by insiders.

RadNet Trading Down 2.2 %

NASDAQ:RDNT traded down $1.13 during trading hours on Tuesday, hitting $50.70. 603,976 shares of the stock were exchanged, compared to its average volume of 615,374. The company has a market capitalization of $3.75 billion, a P/E ratio of -724.18 and a beta of 1.85. 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 company's 50 day moving average is $58.48 and its two-hundred day moving average is $67.45. RadNet, Inc. has a twelve month low of $45.82 and a twelve month high of $93.65.

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

Wall Street Analysts Forecast Growth

A number of research firms have commented on RDNT. Raymond James upgraded shares of RadNet from an "outperform" rating to a "strong-buy" rating and reduced their price target for the company from $85.00 to $65.00 in a research report on Wednesday, March 5th. Barclays cut their target price on shares of RadNet from $74.00 to $60.00 and set an "overweight" rating for the company in a research note on Monday. Truist Financial restated a "buy" rating and set a $88.00 price target (down from $94.00) on shares of RadNet in a research report on Wednesday, January 22nd. StockNews.com upgraded RadNet to a "sell" rating in a research report on Wednesday, March 19th. Finally, Jefferies Financial Group decreased 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. One equities research analyst has rated the stock with a sell rating, three have issued a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Buy" and an average price target of $73.25.

RadNet 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.