RadNet, Inc. (NASDAQ:RDNT) Shares Sold by Lazard Asset Management LLC

Lazard Asset Management LLC lessened its holdings in RadNet, Inc. (NASDAQ:RDNT - Free Report) by 94.8% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 442 shares of the medical research company's stock after selling 8,086 shares during the period. Lazard Asset Management LLC's holdings in RadNet were worth $30,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Barclays PLC raised its stake in shares of RadNet by 373.8% during the 3rd quarter. Barclays PLC now owns 116,978 shares of the medical research company's stock worth $8,118,000 after acquiring an additional 92,291 shares in the last quarter. Nisa Investment Advisors LLC increased its stake in RadNet by 20.0% during the 4th quarter. Nisa Investment Advisors LLC now owns 4,291 shares of the medical research company's stock valued at $300,000 after purchasing an additional 716 shares in the last quarter. Fifth Third Bancorp increased its stake in RadNet by 84.3% during the 4th quarter. Fifth Third Bancorp now owns 667 shares of the medical research company's stock valued at $47,000 after purchasing an additional 305 shares in the last quarter. KBC Group NV increased its stake in RadNet by 47.6% during the 4th quarter. KBC Group NV now owns 2,678 shares of the medical research company's stock valued at $187,000 after purchasing an additional 864 shares in the last quarter. Finally, Highland Capital Management LLC increased its stake in RadNet by 6.5% during the 4th quarter. Highland Capital Management LLC now owns 3,307 shares of the medical research company's stock valued at $231,000 after purchasing an additional 202 shares in the last quarter. Hedge funds and other institutional investors own 77.90% of the company's stock.

RadNet Stock Performance

NASDAQ RDNT traded up $2.59 during mid-day trading on Friday, reaching $57.78. 1,250,804 shares of the stock were exchanged, compared to its average volume of 690,791. The business's 50 day moving average is $53.40 and its 200-day moving average is $62.03. RadNet, Inc. has a 1 year low of $45.00 and a 1 year high of $93.65. The company has a market capitalization of $4.34 billion, a P/E ratio of -825.31 and a beta of 1.46. The company has a debt-to-equity ratio of 0.89, a quick ratio of 2.16 and a current ratio of 2.16.

RadNet (NASDAQ:RDNT - Get Free Report) last announced its quarterly earnings results on Thursday, February 27th. The medical research company reported $0.22 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.21 by $0.01. RadNet had a negative net margin of 0.25% and a positive return on equity of 4.29%. The firm had revenue of $477.10 million for the quarter, compared to the consensus estimate of $459.42 million. On average, equities research analysts forecast that RadNet, Inc. will post 0.56 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on RDNT. Barclays cut their price target on shares of RadNet from $74.00 to $60.00 and set an "overweight" rating on the stock in a research note on Monday, March 24th. Truist Financial cut their price objective on shares of RadNet from $88.00 to $74.00 and set a "buy" rating on the stock in a research note on Friday, April 11th. Raymond James upgraded shares of RadNet from an "outperform" rating to a "strong-buy" rating and cut their price objective for the stock from $85.00 to $65.00 in a research note on Wednesday, March 5th. Finally, Wall Street Zen downgraded shares of RadNet from a "hold" rating to a "sell" rating in a report on Thursday, May 22nd. One equities research analyst has rated the stock with a sell rating, three have assigned a buy rating and two have issued a strong buy rating to the company's stock. According to data from MarketBeat, RadNet presently has an average rating of "Buy" and an average price target of $69.75.

Insider Buying and Selling at RadNet

In other RadNet news, CEO Cornelis Wesdorp sold 2,000 shares of the stock in a transaction on Wednesday, March 5th. The shares were sold at an average price of $52.58, for a total transaction of $105,160.00. Following the transaction, the chief executive officer now directly owns 58,995 shares of the company's stock, valued at $3,101,957.10. This trade represents a 3.28% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Alma Gregory Sorensen sold 55,000 shares of the stock in a transaction on Friday, May 23rd. The shares were sold at an average price of $56.48, for a total transaction of $3,106,400.00. Following the transaction, the executive vice president now directly owns 1,160,509 shares in the company, valued at approximately $65,545,548.32. The trade was a 4.52% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 101,447 shares of company stock valued at $5,539,950 over the last ninety days. Corporate insiders own 5.12% of the company's stock.

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.