Bessemer Group Inc. Decreases Stock Holdings in RadNet, Inc. (NASDAQ:RDNT)

Bessemer Group Inc. lessened its holdings in shares of RadNet, Inc. (NASDAQ:RDNT - Free Report) by 16.8% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 317,348 shares of the medical research company's stock after selling 63,885 shares during the period. Bessemer Group Inc. owned 0.43% of RadNet worth $22,163,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. raised its holdings in shares of RadNet by 1.0% during the 4th quarter. Vanguard Group Inc. now owns 7,425,218 shares of the medical research company's stock valued at $518,577,000 after buying an additional 71,910 shares during the period. State Street Corp grew its position in RadNet by 1.3% in the third quarter. State Street Corp now owns 2,446,179 shares of the medical research company's stock worth $169,740,000 after acquiring an additional 30,244 shares in the last quarter. Invesco Ltd. increased its stake in RadNet by 4.3% during the fourth quarter. Invesco Ltd. now owns 1,731,074 shares of the medical research company's stock valued at $120,898,000 after acquiring an additional 70,673 shares during the period. Geode Capital Management LLC boosted its stake in shares of RadNet by 0.8% in the 3rd quarter. Geode Capital Management LLC now owns 1,555,214 shares of the medical research company's stock valued at $107,936,000 after purchasing an additional 11,613 shares in the last quarter. Finally, Principal Financial Group Inc. boosted its holdings in RadNet by 8.5% in the third quarter. Principal Financial Group Inc. now owns 1,506,545 shares of the medical research company's stock valued at $104,539,000 after acquiring an additional 118,501 shares during the last quarter. Institutional investors and hedge funds own 77.90% of the company's stock.

RadNet Trading Down 3.1 %

RDNT stock traded down $1.62 during trading on Wednesday, reaching $51.46. 766,842 shares of the stock traded hands, compared to its average volume of 654,005. 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 business's 50 day moving average price is $53.71 and its 200-day moving average price is $65.45. The firm has a market capitalization of $3.81 billion, a PE ratio of -735.04 and a beta of 1.59.

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 for the quarter, beating analysts' consensus estimates 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 business had revenue of $477.10 million for the quarter, compared to the consensus estimate of $459.42 million. As a group, sell-side analysts forecast that RadNet, Inc. will post 0.56 earnings per share for the current year.

Insider Activity at RadNet

In other news, COO Norman R. Hames sold 5,000 shares of the firm's stock in a transaction dated Wednesday, March 19th. The shares were sold at an average price of $50.22, for a total transaction of $251,100.00. Following the completion of the sale, the chief operating officer now owns 251,959 shares in the company, valued at approximately $12,653,380.98. This trade represents a 1.95 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Cornelis Wesdorp sold 2,000 shares of the company's stock in a transaction that occurred on Wednesday, March 5th. The stock was sold at an average price of $52.58, for a total transaction of $105,160.00. Following the sale, the chief executive officer now directly owns 58,995 shares of the company's stock, valued at approximately $3,101,957.10. This trade represents a 3.28 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 38,000 shares of company stock worth $1,926,730 over the last 90 days. Insiders own 5.12% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts recently commented on RDNT shares. Barclays decreased their price target on shares of RadNet from $74.00 to $60.00 and set an "overweight" rating on the stock in a research note on Monday, March 24th. Raymond James upgraded shares of RadNet from an "outperform" rating to a "strong-buy" rating and cut their price objective for the company from $85.00 to $65.00 in a research report on Wednesday, March 5th. StockNews.com raised RadNet to a "sell" rating in a research note on Wednesday, March 19th. 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 note on Friday, April 11th. Finally, Jefferies Financial Group lowered their price target on RadNet from $100.00 to $80.00 and set a "buy" rating on the stock in a report on Wednesday, January 15th. One research 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. Based on data from MarketBeat.com, RadNet presently has an average rating of "Buy" and a consensus price target of $69.75.

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.