Cerity Partners LLC lowered its stake in shares of RadNet, Inc. (NASDAQ:RDNT - Free Report) by 33.3% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 149,200 shares of the medical research company's stock after selling 74,507 shares during the quarter. Cerity Partners LLC owned approximately 0.20% of RadNet worth $7,418,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in RDNT. Summit Investment Advisors Inc. raised its stake in shares of RadNet by 3.3% in the 4th quarter. Summit Investment Advisors Inc. now owns 6,917 shares of the medical research company's stock worth $483,000 after buying an additional 219 shares in the last quarter. Moran Wealth Management LLC raised its stake in shares of RadNet by 2.2% in the 1st quarter. Moran Wealth Management LLC now owns 10,643 shares of the medical research company's stock worth $529,000 after buying an additional 225 shares in the last quarter. Summit Financial LLC raised its stake in shares of RadNet by 2.4% in the 4th quarter. Summit Financial LLC now owns 11,111 shares of the medical research company's stock worth $776,000 after buying an additional 262 shares in the last quarter. GAMMA Investing LLC raised its stake in shares of RadNet by 22.3% in the 1st quarter. GAMMA Investing LLC now owns 1,644 shares of the medical research company's stock worth $82,000 after buying an additional 300 shares in the last quarter. Finally, 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 purchasing an additional 422 shares during the period. Institutional investors and hedge funds own 77.90% of the company's stock.
Analyst Upgrades and Downgrades
A number of brokerages have recently weighed in on RDNT. Truist Financial set a $74.00 price target on RadNet in a report on Thursday, July 10th. B. Riley began coverage on RadNet in a report on Friday, June 13th. They set a "buy" rating and a $69.00 price target on the stock. Barclays lowered their price target on RadNet from $74.00 to $60.00 and set an "overweight" rating on the stock in a report on Monday, March 24th. Finally, Wall Street Zen downgraded RadNet from a "hold" rating to a "sell" rating in a research note on Sunday, June 29th. One research analyst has rated the stock with a sell rating, three have assigned a buy rating and three have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Buy" and an average target price of $69.60.
Get Our Latest Analysis on RadNet
RadNet Trading Down 2.3%
NASDAQ:RDNT traded down $1.35 during trading hours on Friday, hitting $57.49. 1,352,954 shares of the stock were exchanged, compared to its average volume of 688,944. The company's 50 day moving average is $57.29 and its two-hundred day moving average is $57.05. RadNet, Inc. has a twelve month low of $45.00 and a twelve month high of $93.65. The company has a quick ratio of 2.01, a current ratio of 2.01 and a debt-to-equity ratio of 0.87. The company has a market capitalization of $4.31 billion, a P/E ratio of -133.69 and a beta of 1.41.
Insiders Place Their Bets
In related news, EVP Alma Gregory Sorensen sold 55,000 shares of the firm's 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 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 sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, COO Norman R. Hames sold 5,536 shares of the firm's stock in a transaction on Thursday, May 15th. The stock was sold at an average price of $60.00, for a total value of $332,160.00. Following the sale, the chief operating officer directly owned 249,183 shares in the company, valued at $14,950,980. The trade was a 2.17% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 63,447 shares of company stock worth $3,613,220. 5.60% of the stock is currently owned by company insiders.
RadNet Profile
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Free Report)
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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