Castleark Management LLC Has $7.30 Million Holdings in RadNet, Inc. (NASDAQ:RDNT)

Castleark Management LLC trimmed its position in shares of RadNet, Inc. (NASDAQ:RDNT - Free Report) by 27.1% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 104,453 shares of the medical research company's stock after selling 38,760 shares during the quarter. Castleark Management LLC owned approximately 0.14% of RadNet worth $7,295,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of the company. Highland Capital Management LLC raised its position in RadNet by 6.5% in the 4th quarter. Highland Capital Management LLC now owns 3,307 shares of the medical research company's stock worth $231,000 after purchasing an additional 202 shares during the last quarter. Summit Investment Advisors Inc. lifted its stake in shares of RadNet by 3.3% during the fourth quarter. Summit Investment Advisors Inc. now owns 6,917 shares of the medical research company's stock valued at $483,000 after acquiring an additional 219 shares during the period. Summit Financial LLC boosted its holdings in RadNet by 2.4% in the fourth quarter. Summit Financial LLC now owns 11,111 shares of the medical research company's stock valued at $776,000 after acquiring an additional 262 shares during the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd increased its position in RadNet by 4.3% in the fourth quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 7,389 shares of the medical research company's stock worth $516,000 after purchasing an additional 302 shares during the period. Finally, Fifth Third Bancorp raised its holdings in RadNet by 84.3% during the 4th quarter. Fifth Third Bancorp now owns 667 shares of the medical research company's stock worth $47,000 after purchasing an additional 305 shares during the last quarter. Institutional investors and hedge funds own 77.90% of the company's stock.

Insider Buying and Selling at RadNet

In other RadNet news, Director David L. Swartz sold 25,000 shares of the stock in a transaction dated 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 completion of the transaction, the director now owns 174,067 shares in the company, valued at approximately $8,849,566.28. This represents a 12.56% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Cornelis Wesdorp sold 2,000 shares of the business's 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 completion of the sale, the chief executive officer now owns 58,995 shares in the company, valued at approximately $3,101,957.10. This trade represents a 3.28% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 46,447 shares of company stock valued at $2,433,550. 5.12% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several brokerages have recently commented on RDNT. Barclays lowered their price target 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. StockNews.com raised shares of RadNet to a "sell" rating in a report on Monday, May 12th. Truist Financial cut their price target on RadNet from $88.00 to $74.00 and set a "buy" rating on the stock in a research note on Friday, April 11th. Finally, Raymond James raised RadNet from an "outperform" rating to a "strong-buy" rating and decreased their price objective for the stock from $85.00 to $65.00 in a research note on Wednesday, March 5th. One analyst has rated the stock with a sell rating, three have given a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Buy" and an average target price of $69.75.

RadNet Stock Performance

Shares of RadNet stock opened at $60.16 on Wednesday. RadNet, Inc. has a 12 month low of $45.00 and a 12 month high of $93.65. The company has a current ratio of 2.16, a quick ratio of 2.16 and a debt-to-equity ratio of 0.89. The company has a market capitalization of $4.51 billion, a PE ratio of -859.31 and a beta of 1.46. The stock's fifty day simple moving average is $52.26 and its 200 day simple moving average is $63.06.

RadNet (NASDAQ:RDNT - Get Free Report) last released its quarterly earnings data on Thursday, February 27th. The medical research company reported $0.22 earnings per share for the quarter, beating the consensus estimate 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 for the quarter, compared to analysts' expectations of $459.42 million. On average, research analysts predict that RadNet, Inc. will post 0.56 EPS for the current year.

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.

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