RadNet, Inc. (NASDAQ:RDNT) Shares Sold by Ameriprise Financial Inc.

Ameriprise Financial Inc. decreased its stake in RadNet, Inc. (NASDAQ:RDNT - Free Report) by 7.6% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 276,626 shares of the medical research company's stock after selling 22,778 shares during the period. Ameriprise Financial Inc. owned 0.37% of RadNet worth $19,320,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of the stock. Alyeska Investment Group L.P. boosted its holdings in shares of RadNet by 108.6% in the fourth quarter. Alyeska Investment Group L.P. now owns 502,612 shares of the medical research company's stock valued at $35,102,000 after acquiring an additional 261,711 shares during the period. Northern Trust Corp raised its position in RadNet by 16.5% in the 4th quarter. Northern Trust Corp now owns 772,088 shares of the medical research company's stock valued at $53,923,000 after purchasing an additional 109,093 shares during the last quarter. NewGen Asset Management Ltd boosted its stake in RadNet by 48.6% during the 4th quarter. NewGen Asset Management Ltd now owns 43,200 shares of the medical research company's stock worth $3,017,000 after purchasing an additional 14,130 shares during the period. Aquatic Capital Management LLC purchased a new position in RadNet during the 4th quarter worth $187,000. Finally, Susquehanna Fundamental Investments LLC purchased a new position in RadNet during the 4th quarter worth $572,000. 77.90% of the stock is owned by hedge funds and other institutional investors.

RadNet Stock Performance

NASDAQ:RDNT traded down $0.48 during mid-day trading on Monday, reaching $60.66. The stock had a trading volume of 547,297 shares, compared to its average volume of 683,892. RadNet, Inc. has a twelve month low of $45.00 and a twelve month high of $93.65. The business has a 50 day simple moving average of $51.71 and a 200 day simple moving average of $63.13. The firm has a market capitalization of $4.55 billion, a price-to-earnings ratio of -866.45 and a beta of 1.46. The company has a debt-to-equity ratio of 0.89, a quick ratio of 2.16 and a current ratio of 2.16.

RadNet (NASDAQ:RDNT - Get Free Report) last issued its earnings results on Thursday, February 27th. The medical research company reported $0.22 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.21 by $0.01. RadNet had a positive return on equity of 4.29% and a negative net margin of 0.25%. The business had revenue of $477.10 million during the quarter, compared to the consensus estimate of $459.42 million. On average, analysts expect that RadNet, Inc. will post 0.56 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other RadNet news, CEO Cornelis Wesdorp sold 2,000 shares of the stock in a transaction on Wednesday, March 5th. The stock was sold at an average price of $52.58, for a total transaction of $105,160.00. Following the sale, the chief executive officer now owns 58,995 shares in the company, valued at approximately $3,101,957.10. This represents a 3.28% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director David L. Swartz sold 25,000 shares of the firm's stock in a transaction on Friday, March 7th. The stock was sold at an average price of $50.84, for a total value of $1,271,000.00. Following the transaction, 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. Over the last quarter, insiders sold 46,447 shares of company stock worth $2,433,550. 5.12% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the stock. Barclays decreased their target price on shares of RadNet from $74.00 to $60.00 and set an "overweight" rating for the company in a research note on Monday, March 24th. Truist Financial decreased their price objective on RadNet from $88.00 to $74.00 and set a "buy" rating for the company in a research report on Friday, April 11th. Raymond James raised RadNet from an "outperform" rating to a "strong-buy" rating and dropped their target price for the company from $85.00 to $65.00 in a report on Wednesday, March 5th. Finally, StockNews.com raised RadNet to a "sell" rating in a report on Monday, May 12th. One research 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. According to MarketBeat.com, the stock has a consensus rating of "Buy" and a consensus price target of $69.75.

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.