Natixis Advisors LLC Has $781,000 Stock Position in RadNet, Inc. (NASDAQ:RDNT)

Natixis Advisors LLC reduced its position in shares of RadNet, Inc. (NASDAQ:RDNT - Free Report) by 36.0% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 15,704 shares of the medical research company's stock after selling 8,835 shares during the period. Natixis Advisors LLC's holdings in RadNet were worth $781,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Summit Investment Advisors Inc. grew its holdings 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 acquiring an additional 219 shares during the last quarter. Moran Wealth Management LLC grew its position in RadNet by 2.2% during the first quarter. Moran Wealth Management LLC now owns 10,643 shares of the medical research company's stock valued at $529,000 after purchasing an additional 225 shares in the last quarter. Xponance Inc. grew its stake 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. GAMMA Investing LLC boosted its stake in shares of RadNet by 22.3% during the 1st quarter. GAMMA Investing LLC now owns 1,644 shares of the medical research company's stock worth $82,000 after acquiring an additional 300 shares in the last quarter. Finally, Tower Research Capital LLC TRC boosted its stake in shares of RadNet by 42.2% during the 4th quarter. Tower Research Capital LLC TRC now owns 1,422 shares of the medical research company's stock worth $99,000 after acquiring an additional 422 shares in the last quarter. 77.90% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages have weighed in on RDNT. Wall Street Zen downgraded shares of RadNet from a "hold" rating to a "sell" rating in a report on Sunday, June 29th. Truist Financial set a $74.00 target price on shares of RadNet in a research note on Thursday, July 10th. B. Riley initiated coverage on shares of RadNet in a research note on Friday, June 13th. They issued a "buy" rating and a $69.00 target price for the company. Finally, Morgan Stanley raised RadNet to an "overweight" rating in a report on Monday. One research analyst has rated the stock with a sell rating, four have given a buy rating and three have issued a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Buy" and an average target price of $69.60.

RadNet Price Performance

Shares of RDNT stock traded up $1.60 during trading hours on Tuesday, reaching $63.60. The company's stock had a trading volume of 1,421,835 shares, compared to its average volume of 899,250. The firm's 50 day simple moving average is $56.75 and its 200-day simple moving average is $55.82. The company has a market capitalization of $4.77 billion, a price-to-earnings ratio of -317.98 and a beta of 1.43. RadNet, Inc. has a fifty-two week low of $45.00 and a fifty-two week 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.

RadNet (NASDAQ:RDNT - Get Free Report) last issued its earnings results on Sunday, August 10th. The medical research company reported $0.31 earnings per share for the quarter, beating analysts' consensus estimates of $0.17 by $0.14. RadNet had a positive return on equity of 2.44% and a negative net margin of 0.78%. The firm had revenue of $498.23 million for the quarter, compared to the consensus estimate of $488.06 million. During the same quarter last year, the business posted $0.16 EPS. The company's revenue was up 8.4% compared to the same quarter last year. Sell-side analysts forecast that RadNet, Inc. will post 0.56 earnings per share for the current year.

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 sale, the executive vice president 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 filing with the SEC, which is available at this link. Also, COO Norman R. Hames sold 2,911 shares of RadNet stock in a transaction that occurred on Thursday, May 15th. The stock was sold at an average price of $60.00, for a total value of $174,660.00. Following the completion of the transaction, the chief operating officer directly owned 24,889 shares in the company, valued at approximately $1,493,340. This represents a 10.47% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 63,447 shares of company stock worth $3,613,220 in the last 90 days. Company insiders own 5.60% of the company's stock.

RadNet Company 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.