Skandinaviska Enskilda Banken AB publ Sells 51,978 Shares of RadNet, Inc. (NASDAQ:RDNT)

Key Points

• Skandinaviska Enskilda Banken AB sold 51,978 shares of RadNet, Inc. (NASDAQ:RDNT), reducing its ownership by 20.9% to a total of 196,594 shares.
• Currently, 77.90% of RadNet's stock is held by institutional investors, highlighting significant professional interest in the company.
• Recent analyst reports show mixed ratings for RadNet, with one buy rating, three buy ratings, and one sell rating, indicating differing opinions on its stock performance.

Skandinaviska Enskilda Banken AB publ trimmed its position in RadNet, Inc. (NASDAQ:RDNT - Free Report) by 20.9% in the first quarter, according to its most recent filing with the SEC. The fund owned 196,594 shares of the medical research company's stock after selling 51,978 shares during the period. Skandinaviska Enskilda Banken AB publ owned 0.26% of RadNet worth $9,775,000 as of its most recent filing with the SEC.

A number of other large investors also recently modified their holdings of RDNT. Summit Investment Advisors Inc. raised its position in RadNet by 3.3% during the 4th quarter. Summit Investment Advisors Inc. now owns 6,917 shares of the medical research company's stock worth $483,000 after purchasing an additional 219 shares during the last quarter. Moran Wealth Management LLC raised its position in RadNet by 2.2% during the 1st quarter. Moran Wealth Management LLC now owns 10,643 shares of the medical research company's stock worth $529,000 after purchasing an additional 225 shares during the last quarter. Xponance Inc. raised its position in RadNet by 5.0% during the 1st quarter. Xponance Inc. now owns 5,010 shares of the medical research company's stock worth $249,000 after purchasing an additional 239 shares during the last quarter. Summit Financial LLC raised its position in RadNet by 2.4% during the 4th quarter. Summit Financial LLC now owns 11,111 shares of the medical research company's stock worth $776,000 after purchasing an additional 262 shares during the last quarter. Finally, GAMMA Investing LLC grew its holdings in 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 during the period. 77.90% of the stock is currently owned by institutional investors.

RadNet Stock Performance

Shares of RDNT opened at $57.41 on Friday. The company has a debt-to-equity ratio of 0.87, a current ratio of 2.01 and a quick ratio of 2.01. The stock has a 50-day moving average of $57.04 and a 200-day moving average of $56.46. The company has a market cap of $4.31 billion, a PE ratio of -133.51 and a beta of 1.41. RadNet, Inc. has a one year low of $45.00 and a one year high of $93.65.

Analyst Upgrades and Downgrades

RDNT has been the subject of a number of recent analyst reports. Truist Financial set a $74.00 price target on RadNet in a report on Thursday, July 10th. Wall Street Zen downgraded RadNet from a "hold" rating to a "sell" rating in a report on Sunday, June 29th. Finally, B. Riley initiated coverage on RadNet in a report on Friday, June 13th. They set a "buy" rating and a $69.00 price target for the company. One investment analyst has rated the stock with a sell rating, three have assigned a buy rating and three have given a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Buy" and a consensus price target of $69.60.

Insider Activity

In other news, COO Norman R. Hames sold 2,911 shares of the firm's stock in a transaction dated 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 sale, the chief operating officer directly owned 24,889 shares in the company, valued at $1,493,340. This trade represents a 10.47% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, EVP Alma Gregory Sorensen sold 55,000 shares of the firm's stock in a transaction dated 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 owned 1,160,509 shares of the company's stock, valued at approximately $65,545,548.32. This represents a 4.52% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 63,447 shares of company stock valued at $3,613,220. 5.60% of the stock is currently owned by company insiders.

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.

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