RadNet, Inc. (NASDAQ:RDNT) Shares Sold by Corient Private Wealth LLC

Corient Private Wealth LLC cut its position in RadNet, Inc. (NASDAQ:RDNT) by 37.2% during the fourth quarter, Holdings Channel reports. The firm owned 4,581 shares of the medical research company’s stock after selling 2,717 shares during the period. Corient Private Wealth LLC’s holdings in RadNet were worth $320,000 as of its most recent filing with the SEC.

Several other institutional investors have also recently modified their holdings of the company. Raymond James Financial Inc. purchased a new stake in RadNet in the fourth quarter valued at approximately $33,090,000. Portolan Capital Management LLC lifted its stake in RadNet by 384.8% during the 3rd quarter. Portolan Capital Management LLC now owns 491,358 shares of the medical research company’s stock valued at $34,095,000 after acquiring an additional 390,011 shares during the period. Allspring Global Investments Holdings LLC boosted its holdings in shares of RadNet by 30.4% in 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 acquiring an additional 344,146 shares during the last quarter. WCM Investment Management LLC purchased a new stake in shares of RadNet in the 4th quarter valued at $14,110,000. Finally, Principal Financial Group Inc. increased its stake in shares of RadNet by 8.5% in the third quarter. Principal Financial Group Inc. now owns 1,506,545 shares of the medical research company’s stock worth $104,539,000 after acquiring an additional 118,501 shares during the period. 77.90% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at RadNet

In other RadNet news, CEO Cornelis Wesdorp sold 2,000 shares of the firm’s stock in a transaction on Wednesday, March 5th. The stock was sold at an average price of $52.58, for a total value of $105,160.00. Following the transaction, the chief executive officer now owns 58,995 shares in the company, valued at approximately $3,101,957.10. This trade represents a 3.28 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director David L. Swartz sold 25,000 shares of the company’s stock in a transaction on Friday, March 7th. The stock was sold at an average price of $50.84, for a total transaction of $1,271,000.00. Following the sale, the director now directly owns 174,067 shares of the company’s stock, valued at $8,849,566.28. The trade was a 12.56 % 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 valued at $1,926,730 over the last ninety days. Corporate insiders own 5.12% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on RDNT shares. Jefferies Financial Group lowered their price target on shares of RadNet from $100.00 to $80.00 and set a “buy” rating on the stock in a report on Wednesday, January 15th. StockNews.com upgraded RadNet to a “sell” rating in a research note on Wednesday, March 19th. Barclays reduced their price target on RadNet from $74.00 to $60.00 and set an “overweight” rating for the company in a research report on Monday, March 24th. Raymond James upgraded RadNet from an “outperform” rating to a “strong-buy” rating and lowered their price objective for the stock from $85.00 to $65.00 in a research report on Wednesday, March 5th. Finally, Truist Financial reaffirmed a “buy” rating and set a $88.00 target price (down from $94.00) on shares of RadNet in a report on Wednesday, January 22nd. One investment 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 stock. According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average price target of $73.25.

RadNet Stock Performance

Shares of RDNT stock opened at $49.44 on Monday. The company has a market capitalization of $3.66 billion, a P/E ratio of -706.18 and a beta of 1.85. RadNet, Inc. has a 12-month low of $45.82 and a 12-month high of $93.65. The business’s 50 day moving average is $57.55 and its two-hundred day moving average is $67.13. The company has a current ratio of 2.16, a quick ratio of 2.16 and a debt-to-equity ratio of 0.89.

RadNet (NASDAQ:RDNT) last announced its earnings results on Thursday, February 27th. The medical research company reported $0.22 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.21 by $0.01. The firm 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%. Analysts expect 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.