Alliancebernstein L.P. Sells 19,198 Shares of RadNet, Inc. (NASDAQ:RDNT)

Alliancebernstein L.P. reduced its stake in RadNet, Inc. (NASDAQ:RDNT - Free Report) by 18.4% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 85,203 shares of the medical research company's stock after selling 19,198 shares during the period. Alliancebernstein L.P. owned approximately 0.12% of RadNet worth $5,951,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in RDNT. HighTower Advisors LLC increased its holdings in RadNet by 1.8% during the 3rd quarter. HighTower Advisors LLC now owns 7,861 shares of the medical research company's stock worth $545,000 after acquiring an additional 136 shares during the period. State Street Corp grew its position in shares of RadNet by 1.3% during the 3rd quarter. State Street Corp now owns 2,446,179 shares of the medical research company's stock valued at $169,740,000 after purchasing an additional 30,244 shares in the last quarter. Wolverine Trading LLC increased its holdings in shares of RadNet by 28.6% in the third quarter. Wolverine Trading LLC now owns 4,502 shares of the medical research company's stock worth $312,000 after purchasing an additional 1,002 shares during the period. Barclays PLC raised its position in shares of RadNet by 373.8% in the third quarter. Barclays PLC now owns 116,978 shares of the medical research company's stock worth $8,118,000 after buying an additional 92,291 shares in the last quarter. Finally, Geode Capital Management LLC boosted its stake in RadNet by 0.8% during the third quarter. Geode Capital Management LLC now owns 1,555,214 shares of the medical research company's stock valued at $107,936,000 after buying an additional 11,613 shares during the period. 77.90% of the stock is currently owned by hedge funds and other institutional investors.

RadNet Price Performance

NASDAQ:RDNT traded down $0.74 during mid-day trading on Friday, reaching $49.78. The stock had a trading volume of 704,085 shares, compared to its average volume of 660,320. RadNet, Inc. has a one year low of $45.00 and a one year high of $93.65. The company has a debt-to-equity ratio of 0.89, a quick ratio of 2.16 and a current ratio of 2.16. The firm has a 50 day moving average price of $52.98 and a two-hundred day moving average price of $65.09. The stock has a market capitalization of $3.69 billion, a P/E ratio of -711.04 and a beta of 1.59.

RadNet (NASDAQ:RDNT - Get Free Report) last announced its quarterly earnings data 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. RadNet had a negative net margin of 0.25% and a positive return on equity of 4.29%. The firm had revenue of $477.10 million during the quarter, compared to analyst estimates of $459.42 million. As a group, analysts expect that RadNet, Inc. will post 0.56 earnings per share for the current year.

Insider Buying and Selling at RadNet

In other news, 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 completion of the sale, the chief operating officer now owns 261,959 shares of the company's stock, valued at approximately $13,042,938.61. The trade was a 1.87 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Cornelis Wesdorp sold 2,000 shares of the stock in a transaction dated Wednesday, March 5th. The shares were sold at an average price of $52.58, for a total value of $105,160.00. Following the sale, the chief executive officer now owns 58,995 shares of the company's stock, valued at $3,101,957.10. This represents a 3.28 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 38,000 shares of company stock worth $1,926,730 over the last three months. Company insiders own 5.12% of the company's stock.

Analyst Upgrades and Downgrades

RDNT has been the topic of a number of research analyst reports. Truist Financial decreased their target price on RadNet from $88.00 to $74.00 and set a "buy" rating on the stock in a research note on Friday, April 11th. Jefferies Financial Group lowered 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. Barclays dropped their target price on shares of 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 raised shares of RadNet from an "outperform" rating to a "strong-buy" rating and decreased their price target for the stock from $85.00 to $65.00 in a report on Wednesday, March 5th. Finally, StockNews.com raised shares of RadNet to a "sell" rating in a report on Wednesday, March 19th. One analyst has rated the stock with a sell rating, three have given a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Buy" and a consensus price target of $69.75.

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.