Calamos Advisors LLC Has $1.93 Million Position in RadNet, Inc. (NASDAQ:RDNT)

Calamos Advisors LLC cut its stake in RadNet, Inc. (NASDAQ:RDNT - Free Report) by 29.3% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. 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 0.05% of RadNet worth $1,934,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently modified their holdings of the stock. Vanguard Group Inc. raised its stake in shares of RadNet by 1.0% in the fourth quarter. Vanguard Group Inc. now owns 7,425,218 shares of the medical research company's stock worth $518,577,000 after acquiring an additional 71,910 shares during the last quarter. RTW Investments LP raised its stake in shares of RadNet by 9.4% during the fourth quarter. RTW Investments LP now owns 1,978,582 shares of the medical research company's stock worth $138,184,000 after buying an additional 169,978 shares during the last quarter. Invesco Ltd. increased its stake in RadNet by 4.3% in the fourth quarter. Invesco Ltd. now owns 1,731,074 shares of the medical research company's stock valued at $120,898,000 after purchasing an additional 70,673 shares in the last quarter. Allspring Global Investments Holdings LLC increased its stake in RadNet by 14.4% in the first quarter. Allspring Global Investments Holdings LLC now owns 1,689,275 shares of the medical research company's stock valued at $85,511,000 after purchasing an additional 213,280 shares in the last quarter. Finally, Hood River Capital Management LLC increased its stake in RadNet by 3.1% in the fourth quarter. Hood River Capital Management LLC now owns 1,322,879 shares of the medical research company's stock valued at $92,390,000 after purchasing an additional 39,881 shares in the last quarter. 77.90% of the stock is owned by institutional investors.

Insider Activity at RadNet

In related news, COO Norman R. Hames sold 5,536 shares of the stock in a transaction on Thursday, May 15th. The shares were sold at an average price of $60.00, for a total transaction of $332,160.00. Following the completion of the transaction, the chief operating officer owned 249,183 shares in the company, valued at approximately $14,950,980. This represents a 2.17% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Alma Gregory Sorensen sold 55,000 shares of the stock in a transaction on Friday, May 23rd. The stock was sold at an average price of $56.48, for a total transaction of $3,106,400.00. Following the transaction, the executive vice president owned 1,160,509 shares of the company's stock, valued at $65,545,548.32. The trade was a 4.52% decrease in their position. The disclosure for this sale can be found here. Insiders sold 63,447 shares of company stock valued at $3,613,220 in the last quarter. Corporate insiders own 5.60% of the company's stock.

Analyst Ratings Changes

Several equities research analysts have commented on the stock. Truist Financial lowered their target price 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. Wall Street Zen cut shares of RadNet from a "hold" rating to a "sell" rating in a report on Sunday, June 29th. Barclays reduced their price target on shares of RadNet from $74.00 to $60.00 and set an "overweight" rating for the company in a report on Monday, March 24th. Finally, B. Riley began coverage on shares of RadNet in a report on Friday, June 13th. They issued a "buy" rating and a $69.00 price target for the company. One research analyst has rated the stock with a sell rating, three have assigned a buy rating and three have issued a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Buy" and a consensus target price of $69.60.

RadNet Stock Up 0.9%

Shares of RadNet stock traded up $0.51 on Friday, hitting $56.16. The company had a trading volume of 251,969 shares, compared to its average volume of 684,265. The firm has a market capitalization of $4.21 billion, a P/E ratio of -130.60 and a beta of 1.41. RadNet, Inc. has a twelve month low of $45.00 and a twelve month high of $93.65. 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 stock has a 50-day moving average of $56.64 and a 200-day moving average of $58.02.

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.