Emerald Advisers LLC Has $32.08 Million Position in RadNet, Inc. (NASDAQ:RDNT)

Emerald Advisers LLC decreased its stake in shares of RadNet, Inc. (NASDAQ:RDNT - Free Report) by 1.8% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 645,222 shares of the medical research company's stock after selling 11,967 shares during the period. RadNet makes up about 1.4% of Emerald Advisers LLC's investment portfolio, making the stock its 19th largest holding. Emerald Advisers LLC owned about 0.86% of RadNet worth $32,080,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently made changes to their positions in the stock. New York State Common Retirement Fund increased its position in shares of RadNet by 92.5% during the first quarter. New York State Common Retirement Fund now owns 222,551 shares of the medical research company's stock worth $11,065,000 after acquiring an additional 106,953 shares in the last quarter. Emerald Mutual Fund Advisers Trust grew its position in RadNet by 0.8% in the first quarter. Emerald Mutual Fund Advisers Trust now owns 431,013 shares of the medical research company's stock valued at $21,430,000 after purchasing an additional 3,455 shares in the last quarter. Xponance Inc. grew its position in RadNet by 5.0% in the first quarter. Xponance Inc. now owns 5,010 shares of the medical research company's stock valued at $249,000 after purchasing an additional 239 shares in the last quarter. Envestnet Asset Management Inc. grew its position in RadNet by 50.3% in the first quarter. Envestnet Asset Management Inc. now owns 137,870 shares of the medical research company's stock valued at $6,855,000 after purchasing an additional 46,169 shares in the last quarter. Finally, Penserra Capital Management LLC grew its position in RadNet by 41.0% in the first quarter. Penserra Capital Management LLC now owns 202,901 shares of the medical research company's stock valued at $10,088,000 after purchasing an additional 59,018 shares in the last quarter. Institutional investors own 77.90% of the company's stock.

Insider Transactions at RadNet

In other news, EVP Alma Gregory Sorensen sold 55,000 shares of RadNet 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 transaction, the executive vice president owned 1,160,509 shares of the company's stock, valued at $65,545,548.32. This trade represents a 4.52% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, COO Norman R. Hames sold 5,536 shares of the firm's stock in a transaction dated Thursday, May 15th. The stock was sold at an average price of $60.00, for a total transaction of $332,160.00. Following the sale, the chief operating officer owned 249,183 shares of the company's stock, valued at approximately $14,950,980. This represents 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 valued at $3,613,220. Insiders own 5.60% of the company's stock.

RadNet Stock Performance

Shares of RDNT traded up $1.80 during midday trading on Wednesday, reaching $57.26. The stock had a trading volume of 707,650 shares, compared to its average volume of 684,781. The firm has a 50 day simple moving average of $57.21 and a 200-day simple moving average of $57.22. RadNet, Inc. has a one year low of $45.00 and a one year high of $93.65. The firm has a market cap of $4.30 billion, a PE ratio of -133.16 and a beta of 1.41. The company has a current ratio of 2.01, a quick ratio of 2.01 and a debt-to-equity ratio of 0.87.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on RDNT shares. Truist Financial set a $74.00 target price on shares of RadNet in a research report on Thursday, July 10th. Barclays decreased their target price 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 downgraded shares of RadNet from a "hold" rating to a "sell" rating in a research report on Sunday, June 29th. Finally, B. Riley started coverage on shares of RadNet in a research report on Friday, June 13th. They issued a "buy" rating and a $69.00 target price for the company. One investment analyst has rated the stock with a sell rating, three have issued a buy rating and three have issued a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Buy" and a consensus target price of $69.60.

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.