Robotti Robert Sells 85,965 Shares of RadNet, Inc. (NASDAQ:RDNT)

Robotti Robert trimmed its stake in RadNet, Inc. (NASDAQ:RDNT - Free Report) by 30.7% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 193,738 shares of the medical research company's stock after selling 85,965 shares during the quarter. RadNet makes up 2.4% of Robotti Robert's holdings, making the stock its 11th largest holding. Robotti Robert owned about 0.26% of RadNet worth $13,513,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently modified their holdings of RDNT. JPMorgan Chase & Co. raised its holdings in shares of RadNet by 154.8% during the fourth quarter. JPMorgan Chase & Co. now owns 338,843 shares of the medical research company's stock valued at $23,665,000 after acquiring an additional 205,846 shares during the period. WINTON GROUP Ltd acquired a new stake in RadNet during the 4th quarter valued at $344,000. Pier Capital LLC lifted its holdings in shares of RadNet by 3.0% in the fourth quarter. Pier Capital LLC now owns 125,085 shares of the medical research company's stock valued at $8,736,000 after purchasing an additional 3,600 shares in the last quarter. Vanguard Group Inc. boosted its position in shares of RadNet by 1.0% in the fourth quarter. Vanguard Group Inc. now owns 7,425,218 shares of the medical research company's stock worth $518,577,000 after buying an additional 71,910 shares during the period. Finally, KLP Kapitalforvaltning AS purchased a new position in shares of RadNet during the fourth quarter valued at $915,000. 77.90% of the stock is owned by institutional investors and hedge funds.

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Insider Buying and Selling at RadNet

In other news, CEO Cornelis Wesdorp sold 2,000 shares of the firm's stock in a transaction dated Wednesday, March 5th. The stock was sold at an average price of $52.58, for a total value of $105,160.00. Following the sale, the chief executive officer now directly 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 sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, COO Norman R. Hames sold 5,000 shares of the business's stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $49.79, for a total value of $248,950.00. Following the transaction, the chief operating officer now directly owns 261,959 shares of the company's stock, valued at $13,042,938.61. This represents a 1.87 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 38,000 shares of company stock worth $1,926,730 over the last 90 days. Insiders own 5.12% of the company's stock.

RadNet Stock Down 1.8 %

Shares of RDNT stock traded down $0.91 on Monday, hitting $48.53. The company's stock had a trading volume of 163,715 shares, compared to its average volume of 899,022. The stock has a market capitalization of $3.59 billion, a price-to-earnings ratio of -693.20 and a beta of 1.85. RadNet, Inc. has a fifty-two week low of $45.82 and a fifty-two week high of $93.65. The firm's fifty day moving average price is $57.55 and its 200-day moving average price is $67.13. The company has a debt-to-equity ratio of 0.89, a current ratio of 2.16 and a quick ratio of 2.16.

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

Analysts Set New Price Targets

A number of brokerages have commented on RDNT. StockNews.com upgraded RadNet to a "sell" rating in a research report on Wednesday, March 19th. Barclays lowered their price objective on shares of RadNet from $74.00 to $60.00 and set an "overweight" rating on the stock in a research report on Monday, March 24th. Jefferies Financial Group cut their target price on shares of RadNet from $100.00 to $80.00 and set a "buy" rating for the company in a research report on Wednesday, January 15th. Truist Financial reaffirmed a "buy" rating and issued a $88.00 price target (down from $94.00) on shares of RadNet in a research note on Wednesday, January 22nd. Finally, Raymond James raised RadNet from an "outperform" rating to a "strong-buy" rating and reduced their price objective for the company from $85.00 to $65.00 in a research report on Wednesday, March 5th. One investment analyst has rated the stock with a sell rating, three have assigned a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Buy" and an average target price of $73.25.

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.