RadNet, Inc. (NASDAQ:RDNT) Shares Sold by Calamos Advisors LLC

Calamos Advisors LLC lessened its stake in RadNet, Inc. (NASDAQ:RDNT - Free Report) by 29.3% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 38,904 shares of the medical research company's stock after selling 16,087 shares during the period. Calamos Advisors LLC owned about 0.05% of RadNet worth $1,934,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in RDNT. Smartleaf Asset Management LLC boosted its stake in shares of RadNet by 377.0% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,345 shares of the medical research company's stock valued at $96,000 after purchasing an additional 1,063 shares during the period. Tower Research Capital LLC TRC lifted its holdings in RadNet by 42.2% during the 4th quarter. Tower Research Capital LLC TRC now owns 1,422 shares of the medical research company's stock worth $99,000 after buying an additional 422 shares in the last quarter. Canada Pension Plan Investment Board purchased a new position in RadNet in the 4th quarter valued at approximately $105,000. Twin Tree Management LP acquired a new position in shares of RadNet in the fourth quarter worth $106,000. Finally, GAMMA Investing LLC grew its stake in shares of RadNet by 22.3% in the first quarter. GAMMA Investing LLC now owns 1,644 shares of the medical research company's stock worth $82,000 after acquiring an additional 300 shares in the last quarter. Hedge funds and other institutional investors own 77.90% of the company's stock.

RadNet Price Performance

NASDAQ:RDNT traded down $0.94 during trading hours on Monday, reaching $55.26. 413,840 shares of the company traded hands, compared to its average volume of 683,183. The company has a debt-to-equity ratio of 0.87, a current ratio of 2.01 and a quick ratio of 2.01. The firm's 50-day moving average is $56.73 and its 200-day moving average is $57.80. The stock has a market cap of $4.15 billion, a P/E ratio of -128.51 and a beta of 1.41. RadNet, Inc. has a 1-year low of $45.00 and a 1-year high of $93.65.

Analyst Ratings Changes

RDNT has been the subject of several recent analyst reports. 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 research report on Monday, March 24th. Wall Street Zen lowered RadNet from a "hold" rating to a "sell" rating in a report on Sunday, June 29th. B. Riley assumed coverage on shares of RadNet in a research report on Friday, June 13th. They issued a "buy" rating and a $69.00 price objective for the company. Finally, Truist Financial reduced their price objective on shares of RadNet from $88.00 to $74.00 and set a "buy" rating for the company in a research note on Friday, April 11th. One equities research analyst has rated the stock with a sell rating, three have given a buy rating and three have issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Buy" and a consensus price target of $69.60.

Insider Activity at RadNet

In other RadNet news, COO Norman R. Hames sold 5,536 shares of RadNet stock in a transaction dated Thursday, May 15th. The stock was sold at an average price of $60.00, for a total value of $332,160.00. Following the completion of the sale, the chief operating officer owned 249,183 shares in the company, valued at $14,950,980. The trade was a 2.17% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Alma Gregory Sorensen sold 55,000 shares of the stock in a transaction dated Friday, May 23rd. The shares were sold at an average price of $56.48, for a total value of $3,106,400.00. Following the completion of the sale, the executive vice president owned 1,160,509 shares of the company's stock, valued at approximately $65,545,548.32. This trade represents a 4.52% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 63,447 shares of company stock worth $3,613,220 in the last three months. Insiders own 5.60% of the company's stock.

RadNet Company 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.