Whittier Trust Co. Buys 8,862 Shares of RadNet, Inc. (NASDAQ:RDNT)

Whittier Trust Co. raised its holdings in shares of RadNet, Inc. (NASDAQ:RDNT - Free Report) by 4.5% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 206,783 shares of the medical research company's stock after acquiring an additional 8,862 shares during the period. Whittier Trust Co. owned about 0.28% of RadNet worth $14,442,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Raymond James Financial Inc. bought a new stake in shares of RadNet in the 4th quarter valued at about $33,090,000. Portolan Capital Management LLC lifted its position in RadNet by 384.8% in the third quarter. Portolan Capital Management LLC now owns 491,358 shares of the medical research company's stock valued at $34,095,000 after purchasing an additional 390,011 shares during the last quarter. Allspring Global Investments Holdings LLC boosted its position in RadNet by 30.4% during 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 buying an additional 344,146 shares during the period. Cerity Partners LLC grew its holdings in RadNet by 131.4% in the 3rd quarter. Cerity Partners LLC now owns 387,536 shares of the medical research company's stock worth $26,891,000 after acquiring an additional 220,068 shares during the last quarter. Finally, JB Capital Partners LP boosted its holdings in shares of RadNet by 15.9% during the third quarter. JB Capital Partners LP now owns 1,504,061 shares of the medical research company's stock worth $104,367,000 after purchasing an additional 206,850 shares during the period. 77.90% of the stock is owned by hedge funds and other institutional investors.

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Insider Buying and Selling

In related news, CEO Cornelis Wesdorp sold 1,000 shares of the business's stock in a transaction that occurred on Friday, March 7th. The shares were sold at an average price of $50.52, for a total value of $50,520.00. Following the completion of the transaction, the chief executive officer now directly owns 55,995 shares in the company, valued at $2,828,867.40. The trade was a 1.75 % 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, COO Norman R. Hames sold 5,000 shares of the business'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 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 38,000 shares of company stock worth $1,926,730 in the last 90 days. Insiders own 5.12% of the company's stock.

RadNet Stock Up 5.2 %

Shares of RDNT stock traded up $2.58 during mid-day trading on Monday, reaching $51.83. 567,710 shares of the company's stock traded hands, compared to its average volume of 615,386. The company's 50-day moving average price is $58.78 and its 200-day moving average price is $67.53. The company has a market cap of $3.84 billion, a P/E ratio of -740.32 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. 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 posted its quarterly earnings data 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. RadNet had a negative net margin of 0.25% and a positive return on equity of 4.29%. The business had revenue of $477.10 million for the quarter, compared to analyst estimates of $459.42 million. On average, equities analysts expect that RadNet, Inc. will post 0.56 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts have commented on RDNT shares. Truist Financial reaffirmed a "buy" rating and set a $88.00 price target (down previously from $94.00) on shares of RadNet in a research report on Wednesday, January 22nd. Raymond James upgraded RadNet from an "outperform" rating to a "strong-buy" rating and decreased their target price for the company from $85.00 to $65.00 in a report on Wednesday, March 5th. StockNews.com upgraded shares of RadNet to a "sell" rating in a report on Wednesday, March 19th. Barclays decreased their price objective on shares of RadNet from $74.00 to $60.00 and set an "overweight" rating for the company in a report on Monday. Finally, Jefferies Financial Group cut their target price on shares of RadNet from $100.00 to $80.00 and set a "buy" rating on the stock in a research note 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 assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus 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.