Sei Investments Co. Buys 16,643 Shares of RadNet, Inc. (NASDAQ:RDNT)

Sei Investments Co. grew its position in RadNet, Inc. (NASDAQ:RDNT - Free Report) by 6.9% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 256,906 shares of the medical research company's stock after acquiring an additional 16,643 shares during the quarter. Sei Investments Co. owned 0.35% of RadNet worth $17,943,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also modified their holdings of the company. Whittier Trust Co. of Nevada Inc. increased its position in RadNet by 5.6% in the fourth quarter. Whittier Trust Co. of Nevada Inc. now owns 106,295 shares of the medical research company's stock worth $7,424,000 after purchasing an additional 5,654 shares during the last quarter. Whittier Trust Co. grew its stake in shares of RadNet by 4.5% in the 4th quarter. Whittier Trust Co. now owns 206,783 shares of the medical research company's stock worth $14,442,000 after buying an additional 8,862 shares in the last quarter. Northwest & Ethical Investments L.P. increased its holdings in shares of RadNet by 19.0% in the 4th quarter. Northwest & Ethical Investments L.P. now owns 4,475 shares of the medical research company's stock worth $312,000 after buying an additional 714 shares during the last quarter. Xponance Inc. raised its position in shares of RadNet by 10.4% during the 4th quarter. Xponance Inc. now owns 4,771 shares of the medical research company's stock valued at $333,000 after buying an additional 451 shares in the last quarter. Finally, Cibc World Markets Corp bought a new position in shares of RadNet in the 4th quarter valued at about $432,000. 77.90% of the stock is owned by hedge funds and other institutional investors.

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RadNet Trading Up 1.8 %

Shares of RDNT traded up $0.90 during trading hours on Tuesday, reaching $50.62. 824,551 shares of the company traded hands, compared to its average volume of 634,118. The stock's fifty day moving average price is $57.16 and its 200 day moving average price is $66.89. 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 firm has a market cap of $3.75 billion, a price-to-earnings ratio of -723.04 and a beta of 1.85. RadNet, Inc. has a 12-month low of $45.82 and a 12-month high of $93.65.

RadNet (NASDAQ:RDNT - Get Free Report) last released its quarterly earnings data 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 company had revenue of $477.10 million during the quarter, compared to analysts' expectations of $459.42 million. RadNet had a negative net margin of 0.25% and a positive return on equity of 4.29%. Sell-side analysts forecast that RadNet, Inc. will post 0.56 earnings per share for the current year.

Insiders Place Their Bets

In other RadNet news, COO Norman R. Hames sold 5,000 shares of the stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $49.79, for a total transaction of $248,950.00. Following the transaction, the chief operating officer now directly owns 261,959 shares in the company, valued at $13,042,938.61. This represents a 1.87 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director David L. Swartz sold 25,000 shares of the firm's stock in a transaction dated Friday, March 7th. The shares were sold at an average price of $50.84, for a total transaction of $1,271,000.00. Following the transaction, the director now directly owns 174,067 shares in the company, valued at $8,849,566.28. This trade represents a 12.56 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 38,000 shares of company stock worth $1,926,730 in the last ninety days. 5.12% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

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