UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Sells 67,559 Shares of RadNet, Inc. (NASDAQ:RDNT)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC reduced its stake in RadNet, Inc. (NASDAQ:RDNT - Free Report) by 13.5% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 431,781 shares of the medical research company's stock after selling 67,559 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned about 0.58% of RadNet worth $30,156,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in the stock. Highland Capital Management LLC boosted its stake in shares of RadNet by 6.5% in 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. Summit Investment Advisors Inc. raised its holdings in RadNet by 3.3% in the 4th quarter. Summit Investment Advisors Inc. now owns 6,917 shares of the medical research company's stock valued at $483,000 after buying an additional 219 shares during the last quarter. Summit Financial LLC raised its holdings in RadNet by 2.4% in the 4th quarter. Summit Financial LLC now owns 11,111 shares of the medical research company's stock valued at $776,000 after buying an additional 262 shares during the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd raised its holdings in RadNet by 4.3% in the 4th quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 7,389 shares of the medical research company's stock valued at $516,000 after buying an additional 302 shares during the last quarter. Finally, Fifth Third Bancorp raised its holdings in RadNet by 84.3% in the 4th quarter. Fifth Third Bancorp now owns 667 shares of the medical research company's stock valued at $47,000 after buying an additional 305 shares during the last quarter. 77.90% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

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

RadNet Trading Down 0.2%

RadNet stock traded down $0.10 during mid-day trading on Thursday, hitting $55.19. 418,124 shares of the stock were exchanged, compared to its average volume of 685,540. The company has a quick ratio of 2.16, a current ratio of 2.16 and a debt-to-equity ratio of 0.89. RadNet, Inc. has a 12 month low of $45.00 and a 12 month high of $93.65. The firm's fifty day simple moving average is $53.19 and its two-hundred day simple moving average is $62.56. The stock has a market capitalization of $4.14 billion, a price-to-earnings ratio of -788.32 and a beta of 1.46.

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

Insider Activity

In other RadNet news, CEO Cornelis Wesdorp sold 1,000 shares of the business's stock in a transaction on Friday, March 7th. The shares were sold at an average price of $50.52, for a total transaction of $50,520.00. Following the completion of the sale, the chief executive officer now owns 55,995 shares in the company, valued at approximately $2,828,867.40. The trade was a 1.75% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Alma Gregory Sorensen sold 55,000 shares of the business's 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 sale, the executive vice president now owns 1,160,509 shares of the company's stock, valued at $65,545,548.32. This trade represents a 4.52% decrease in their position. The disclosure for this sale can be found here. Insiders sold 101,447 shares of company stock worth $5,539,950 in the last quarter. 5.12% of the stock is owned by corporate insiders.

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.