DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main Sells 80,223 Shares of RadNet, Inc. (NASDAQ:RDNT)

DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main reduced its stake in shares of RadNet, Inc. (NASDAQ:RDNT - Free Report) by 30.7% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 181,345 shares of the medical research company's stock after selling 80,223 shares during the quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main owned 0.24% of RadNet worth $12,665,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. USA Financial Formulas bought a new position in shares of RadNet during the fourth quarter worth about $30,000. Fifth Third Bancorp raised its position in shares of RadNet by 84.3% during the fourth quarter. Fifth Third Bancorp now owns 667 shares of the medical research company's stock worth $47,000 after acquiring an additional 305 shares during the last quarter. Smartleaf Asset Management LLC raised its position in shares of RadNet by 377.0% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,345 shares of the medical research company's stock worth $96,000 after acquiring an additional 1,063 shares during the last quarter. Tower Research Capital LLC TRC raised its position in shares of RadNet by 42.2% during the fourth quarter. Tower Research Capital LLC TRC now owns 1,422 shares of the medical research company's stock worth $99,000 after acquiring an additional 422 shares during the last quarter. Finally, Canada Pension Plan Investment Board bought a new position in shares of RadNet during the fourth quarter worth about $105,000. 77.90% of the stock is owned by institutional investors and hedge funds.

RadNet Stock Down 0.9%

Shares of NASDAQ:RDNT traded down $0.54 during mid-day trading on Thursday, hitting $59.80. 387,668 shares of the company traded hands, compared to its average volume of 679,035. The stock has a market cap of $4.49 billion, a P/E ratio of -853.45 and a beta of 1.46. 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, Inc. has a 12-month low of $45.00 and a 12-month high of $93.65. The stock has a 50-day moving average price of $51.03 and a two-hundred day moving average price of $63.28.

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, beating the consensus estimate 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%. On average, equities research analysts forecast that RadNet, Inc. will post 0.56 earnings per share for the current year.

Insiders Place Their Bets

In related news, Director David L. Swartz sold 25,000 shares of the firm's stock in a transaction that occurred 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 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Norman R. Hames sold 5,000 shares of the firm's stock in a transaction that occurred 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 transaction, the chief operating officer now owns 261,959 shares in the company, valued at approximately $13,042,938.61. The trade was a 1.87% decrease in their ownership of the stock. 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 currently owned by insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the company. StockNews.com upgraded RadNet to a "sell" rating in a report on Monday. Raymond James upgraded RadNet from an "outperform" rating to a "strong-buy" rating and lowered their target price for the stock from $85.00 to $65.00 in a report on Wednesday, March 5th. Truist Financial lowered their target price on RadNet from $88.00 to $74.00 and set a "buy" rating for the company in a report on Friday, April 11th. Barclays lowered their target price on RadNet from $74.00 to $60.00 and set an "overweight" rating for the company in a report on Monday, March 24th. Finally, Jefferies Financial Group decreased their price objective on RadNet from $100.00 to $80.00 and set a "buy" rating for the company in a report on Wednesday, January 15th. One research 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. Based on data from MarketBeat, the company presently has a consensus rating of "Buy" and an average target price 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.