RadNet, Inc. (NASDAQ:RDNT) Shares Sold by Emerald Advisers LLC

Emerald Advisers LLC lowered its stake in RadNet, Inc. (NASDAQ:RDNT - Free Report) by 1.8% during the 1st quarter, according to the company in its most recent 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 quarter. RadNet comprises approximately 1.4% of Emerald Advisers LLC's holdings, making the stock its 19th largest holding. Emerald Advisers LLC owned 0.86% of RadNet worth $32,080,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also bought and sold shares of the company. Rhumbline Advisers lifted its stake in RadNet by 1.1% in the 1st quarter. Rhumbline Advisers now owns 175,776 shares of the medical research company's stock worth $8,740,000 after purchasing an additional 1,895 shares in the last quarter. GAMMA Investing LLC lifted its stake in 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 purchasing an additional 300 shares in the last quarter. Wealth Enhancement Advisory Services LLC lifted its stake in RadNet by 28.6% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 6,945 shares of the medical research company's stock worth $345,000 after purchasing an additional 1,545 shares in the last quarter. SG Americas Securities LLC lifted its stake in RadNet by 239.5% in the 1st quarter. SG Americas Securities LLC now owns 13,337 shares of the medical research company's stock worth $663,000 after purchasing an additional 9,409 shares in the last quarter. Finally, JPMorgan Chase & Co. lifted its stake in RadNet by 154.8% in the 4th quarter. JPMorgan Chase & Co. now owns 338,843 shares of the medical research company's stock worth $23,665,000 after purchasing an additional 205,846 shares in the last quarter. Hedge funds and other institutional investors own 77.90% of the company's stock.

Analysts Set New Price Targets

Several analysts have recently issued reports on RDNT shares. Truist Financial set a $74.00 target price on shares of RadNet in a research report on Thursday. Wall Street Zen cut shares of RadNet from a "hold" rating to a "sell" rating in a research report on Sunday, June 29th. B. Riley started coverage on shares of RadNet in a research report on Friday, June 13th. They set a "buy" rating and a $69.00 target price on the stock. Finally, Barclays decreased their target price on shares of RadNet from $74.00 to $60.00 and set an "overweight" rating on the stock in a research report on Monday, March 24th. One investment analyst has rated the stock with a sell rating, three have given a buy rating and three have given a strong buy rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Buy" and an average target price of $69.60.

Insider Buying and Selling

In other RadNet news, EVP Alma Gregory Sorensen sold 55,000 shares of the firm's stock in a transaction that occurred on 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 directly owned 1,160,509 shares in the company, valued at $65,545,548.32. This trade represents a 4.52% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Norman R. Hames sold 5,536 shares of the firm's stock in a transaction that occurred 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 sale, the chief operating officer owned 249,183 shares of the company's stock, valued at approximately $14,950,980. This trade represents a 2.17% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 63,447 shares of company stock worth $3,613,220. Insiders own 5.60% of the company's stock.

RadNet Stock Down 3.5%

Shares of NASDAQ RDNT traded down $2.02 during midday trading on Friday, reaching $55.48. 421,167 shares of the company's stock traded hands, compared to its average volume of 683,687. 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 stock's 50 day simple moving average is $57.05 and its 200-day simple moving average is $57.44. RadNet, Inc. has a one year low of $45.00 and a one year high of $93.65. The company has a market cap of $4.16 billion, a price-to-earnings ratio of -129.02 and a beta of 1.41.

RadNet 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.