Millennium Management LLC Sells 528,583 Shares of RadNet, Inc. (NASDAQ:RDNT)

Millennium Management LLC lessened its position in shares of RadNet, Inc. (NASDAQ:RDNT - Free Report) by 77.7% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 151,833 shares of the medical research company's stock after selling 528,583 shares during the period. Millennium Management LLC owned approximately 0.21% of RadNet worth $10,604,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of RDNT. Norges Bank bought a new stake in RadNet during the 4th quarter worth approximately $56,381,000. Raymond James Financial Inc. bought a new stake in RadNet during the 4th quarter worth approximately $33,090,000. T. Rowe Price Investment Management Inc. increased its holdings in RadNet by 79.3% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 913,691 shares of the medical research company's stock worth $63,813,000 after acquiring an additional 404,241 shares during the period. Allspring Global Investments Holdings LLC increased its holdings in RadNet by 30.4% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 1,475,995 shares of the medical research company's stock worth $103,532,000 after acquiring an additional 344,146 shares during the period. Finally, Alyeska Investment Group L.P. increased its holdings in RadNet by 108.6% during the 4th quarter. Alyeska Investment Group L.P. now owns 502,612 shares of the medical research company's stock worth $35,102,000 after acquiring an additional 261,711 shares during the period. Institutional investors own 77.90% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on RDNT. 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 report on Monday, March 24th. Truist Financial decreased their price target on shares of RadNet from $88.00 to $74.00 and set a "buy" rating on the stock in a report on Friday, April 11th. Raymond James raised shares of RadNet from an "outperform" rating to a "strong-buy" rating and decreased their price target for the stock from $85.00 to $65.00 in a report on Wednesday, March 5th. Finally, Wall Street Zen lowered shares of RadNet from a "hold" rating to a "sell" rating in a report on Thursday, May 22nd. One 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. According to MarketBeat.com, the stock has a consensus rating of "Buy" and an average target price of $69.75.

RadNet Price Performance

Shares of NASDAQ:RDNT traded up $0.41 during trading on Thursday, reaching $55.70. The company had a trading volume of 46,589 shares, compared to its average volume of 684,102. The company has a fifty day moving average of $53.19 and a two-hundred day moving average of $62.56. The stock has a market capitalization of $4.18 billion, a P/E ratio of -795.53 and a beta of 1.46. 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.

RadNet (NASDAQ:RDNT - Get Free Report) last announced its quarterly earnings data on Thursday, February 27th. The medical research company reported $0.22 earnings per share (EPS) for the quarter, beating 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 company had revenue of $477.10 million during the quarter, compared to analysts' expectations of $459.42 million. Equities research analysts forecast that RadNet, Inc. will post 0.56 earnings per share for the current year.

Insider Activity

In other news, CEO Cornelis Wesdorp sold 1,000 shares of the company's stock in a transaction on Friday, March 7th. The shares were sold at an average price of $50.52, for a total value of $50,520.00. Following the completion of the sale, the chief executive officer now owns 55,995 shares of the company's stock, valued at approximately $2,828,867.40. This represents a 1.75% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, COO Norman R. Hames sold 5,000 shares of the company's stock in a transaction on Monday, March 17th. The shares were sold at an average price of $49.79, for a total transaction of $248,950.00. Following the completion of the sale, the chief operating officer now directly owns 261,959 shares of the company's stock, valued at $13,042,938.61. This trade represents a 1.87% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 101,447 shares of company stock valued at $5,539,950. Corporate insiders own 5.12% of the company's stock.

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.