Wellington Management Group LLP Sells 157,224 Shares of RadNet, Inc. (NASDAQ:RDNT)

Wellington Management Group LLP decreased its stake in shares of RadNet, Inc. (NASDAQ:RDNT - Free Report) by 30.3% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 361,523 shares of the medical research company's stock after selling 157,224 shares during the period. Wellington Management Group LLP owned 0.49% of RadNet worth $25,249,000 as of its most recent filing with the SEC.

A number of other institutional investors have also made changes to their positions in RDNT. Barclays PLC grew its holdings in RadNet by 373.8% during the third quarter. Barclays PLC now owns 116,978 shares of the medical research company's stock valued at $8,118,000 after purchasing an additional 92,291 shares during the last quarter. Fifth Third Bancorp boosted its holdings in shares of RadNet by 84.3% during the 4th quarter. Fifth Third Bancorp now owns 667 shares of the medical research company's stock worth $47,000 after buying an additional 305 shares during the period. KBC Group NV grew its stake 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 buying an additional 864 shares during the last quarter. Highland Capital Management LLC grew its stake in 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 buying an additional 202 shares during the last quarter. Finally, Guidance Capital Inc. bought a new position in RadNet in the 4th quarter worth $467,000. 77.90% of the stock is owned by institutional investors.

Insider Transactions at RadNet

In related news, CEO Cornelis Wesdorp sold 1,000 shares of the firm's stock in a transaction on Friday, March 7th. The stock was sold at an average price of $50.52, for a total value of $50,520.00. Following the completion of the transaction, the chief executive officer now directly owns 55,995 shares of the company's stock, valued at $2,828,867.40. This trade represents a 1.75% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO Norman R. Hames sold 2,911 shares of the business's stock in a transaction on Thursday, May 15th. The shares were sold at an average price of $60.00, for a total transaction of $174,660.00. Following the completion of the sale, the chief operating officer now directly owns 24,889 shares in the company, valued at $1,493,340. This trade represents a 10.47% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 101,447 shares of company stock valued at $5,539,950. 5.12% of the stock is owned by corporate insiders.

RadNet Stock Performance

Shares of RDNT traded up $0.77 during trading hours on Monday, reaching $58.26. 850,506 shares of the company traded hands, compared to its average volume of 691,415. The company has a debt-to-equity ratio of 0.89, a quick ratio of 2.16 and a current ratio of 2.16. The stock's fifty day moving average is $53.40 and its 200 day moving average is $61.89. RadNet, Inc. has a 1-year low of $45.00 and a 1-year high of $93.65. The stock has a market cap of $4.37 billion, a P/E ratio of -832.17 and a beta of 1.46.

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

Analyst Upgrades and Downgrades

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

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.