BNP Paribas Financial Markets Sells 4,426 Shares of RadNet, Inc. (NASDAQ:RDNT)

BNP Paribas Financial Markets trimmed its position in RadNet, Inc. (NASDAQ:RDNT - Free Report) by 28.7% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 11,021 shares of the medical research company's stock after selling 4,426 shares during the period. BNP Paribas Financial Markets' holdings in RadNet were worth $770,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. KBC Group NV boosted its holdings in RadNet by 47.6% in 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 during the period. Allspring Global Investments Holdings LLC lifted its holdings in shares of 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 last quarter. WCM Investment Management LLC bought a new stake in shares of RadNet during the 4th quarter worth $14,110,000. Guidance Capital Inc. bought a new stake in shares of RadNet during the 4th quarter worth $467,000. Finally, JPMorgan Chase & Co. lifted its holdings in shares of RadNet by 154.8% during the 4th quarter. JPMorgan Chase & Co. now owns 338,843 shares of the medical research company's stock worth $23,665,000 after acquiring an additional 205,846 shares during the last quarter. 77.90% of the stock is owned by institutional investors.

Insider Buying and Selling at RadNet

In related news, COO Norman R. Hames sold 5,000 shares of the business's stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $49.79, for a total transaction of $248,950.00. Following the transaction, the chief operating officer now owns 261,959 shares in the company, valued at $13,042,938.61. The trade was a 1.87% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director David L. Swartz sold 25,000 shares of the business's stock in a transaction dated Friday, March 7th. The stock was sold at an average price of $50.84, for a total transaction of $1,271,000.00. Following the sale, the director now directly owns 174,067 shares in the company, valued at $8,849,566.28. The trade was a 12.56% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 46,447 shares of company stock worth $2,433,550. 5.12% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the stock. Wall Street Zen downgraded shares of RadNet from a "hold" rating to a "sell" rating in a report on Thursday. Barclays dropped their price objective on shares of RadNet from $74.00 to $60.00 and set an "overweight" rating for the company in a report on Monday, March 24th. Raymond James raised shares of RadNet from an "outperform" rating to a "strong-buy" rating and dropped their price objective for the stock from $85.00 to $65.00 in a report on Wednesday, March 5th. Finally, Truist Financial lowered their price target on shares of RadNet from $88.00 to $74.00 and set a "buy" rating for the company in a research note on Friday, April 11th. One investment analyst has rated the stock with a sell rating, three have issued a buy rating and two have given a strong buy rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Buy" and an average target price of $69.75.

RadNet Trading Down 0.3%

RadNet stock traded down $0.16 during mid-day trading on Friday, hitting $56.61. The company's stock had a trading volume of 454,156 shares, compared to its average volume of 687,151. The company has a debt-to-equity ratio of 0.89, a current ratio of 2.16 and a quick ratio of 2.16. The stock has a market cap of $4.25 billion, a price-to-earnings ratio of -808.60 and a beta of 1.46. The business has a 50 day moving average price of $52.81 and a 200-day moving average price of $62.77. RadNet, Inc. has a 12 month low of $45.00 and a 12 month high of $93.65.

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

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.