Rockefeller Capital Management L.P. Raises Stake in RadNet, Inc. (NASDAQ:RDNT)

Rockefeller Capital Management L.P. lifted its stake in RadNet, Inc. (NASDAQ:RDNT - Free Report) by 28.4% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 624,710 shares of the medical research company's stock after purchasing an additional 138,264 shares during the quarter. Rockefeller Capital Management L.P. owned about 0.84% of RadNet worth $43,624,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. HighTower Advisors LLC lifted its stake in shares of RadNet by 1.8% during the 3rd quarter. HighTower Advisors LLC now owns 7,861 shares of the medical research company's stock worth $545,000 after acquiring an additional 136 shares during the last quarter. Highland Capital Management LLC increased 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 worth $231,000 after buying an additional 202 shares during the period. Summit Financial LLC lifted its holdings in RadNet by 2.4% during 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 in the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd boosted its position 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 period. Finally, Fifth Third Bancorp increased its position in shares of RadNet by 84.3% during the fourth quarter. Fifth Third Bancorp now owns 667 shares of the medical research company's stock worth $47,000 after acquiring an additional 305 shares during the period. Hedge funds and other institutional investors own 77.90% of the company's stock.

Insider Transactions at RadNet

In other RadNet news, Director David L. Swartz sold 25,000 shares of the firm's stock in a transaction on Friday, March 7th. The shares were sold at an average price of $50.84, for a total value of $1,271,000.00. Following the completion of the transaction, the director now owns 174,067 shares of the company's stock, valued at approximately $8,849,566.28. This trade represents a 12.56 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, 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 sale, the chief executive officer now directly owns 55,995 shares in the company, valued at $2,828,867.40. This trade represents a 1.75 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 38,000 shares of company stock worth $1,926,730. Insiders own 5.12% of the company's stock.

RadNet Stock Down 1.5 %

Shares of RDNT stock traded down $0.74 during mid-day trading on Friday, hitting $49.78. 704,085 shares of the stock traded hands, compared to its average volume of 659,368. The stock's fifty day moving average is $53.22 and its two-hundred day moving average is $65.21. The company has a debt-to-equity ratio of 0.89, a current ratio of 2.16 and a quick ratio of 2.16. RadNet, Inc. has a 52-week low of $45.00 and a 52-week high of $93.65. The stock has a market cap of $3.69 billion, a P/E ratio of -711.04 and a beta of 1.59.

RadNet (NASDAQ:RDNT - Get Free Report) last released its quarterly earnings results on Thursday, February 27th. The medical research company reported $0.22 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.21 by $0.01. The business had revenue of $477.10 million for 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%. Equities analysts predict that RadNet, Inc. will post 0.56 EPS for the current year.

Analyst Ratings Changes

RDNT has been the topic of several research analyst reports. Truist Financial dropped their price objective on RadNet from $88.00 to $74.00 and set a "buy" rating on the stock in a research note on Friday, April 11th. Jefferies Financial Group decreased their price objective on RadNet from $100.00 to $80.00 and set a "buy" rating for the company in a report on Wednesday, January 15th. Raymond James upgraded shares of RadNet from an "outperform" rating to a "strong-buy" rating and dropped their target price for the stock from $85.00 to $65.00 in a report on Wednesday, March 5th. StockNews.com upgraded shares of RadNet to a "sell" rating in a report on Wednesday, March 19th. Finally, Barclays lowered their price target on shares of RadNet from $74.00 to $60.00 and set an "overweight" rating for the company in a research report on Monday, March 24th. One 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. Based on data from MarketBeat.com, the company presently has a consensus rating of "Buy" and an average price target 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.