RadNet, Inc. (NASDAQ:RDNT) Stake Lowered by Emerald Mutual Fund Advisers Trust

Emerald Mutual Fund Advisers Trust cut its position in shares of RadNet, Inc. (NASDAQ:RDNT - Free Report) by 15.9% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 427,558 shares of the medical research company's stock after selling 80,958 shares during the quarter. RadNet makes up 1.8% of Emerald Mutual Fund Advisers Trust's investment portfolio, making the stock its 8th largest position. Emerald Mutual Fund Advisers Trust owned about 0.58% of RadNet worth $29,861,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the company. USA Financial Formulas purchased a new stake in shares of RadNet during the 4th quarter valued at $30,000. Fifth Third Bancorp raised its holdings in shares of RadNet by 84.3% in the 4th quarter. Fifth Third Bancorp now owns 667 shares of the medical research company's stock worth $47,000 after purchasing an additional 305 shares during the period. Smartleaf Asset Management LLC increased its position in RadNet by 377.0% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,345 shares of the medical research company's stock worth $96,000 after purchasing an additional 1,063 shares in the last quarter. Tower Research Capital LLC TRC lifted its position in RadNet by 42.2% during the fourth quarter. Tower Research Capital LLC TRC now owns 1,422 shares of the medical research company's stock valued at $99,000 after buying an additional 422 shares in the last quarter. Finally, Canada Pension Plan Investment Board acquired a new position in shares of RadNet during the 4th quarter valued at $105,000. Institutional investors and hedge funds own 77.90% of the company's stock.

Insider Activity

In other RadNet news, Director David L. Swartz sold 25,000 shares of the firm's stock in a transaction dated Friday, March 7th. The shares were sold at an average price of $50.84, for a total transaction of $1,271,000.00. Following 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 position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Norman R. Hames sold 5,000 shares of the company's stock in a transaction that occurred on Monday, March 17th. The stock was sold at an average price of $49.79, for a total transaction of $248,950.00. Following the completion of the sale, the chief operating officer now directly owns 261,959 shares of the company's stock, valued at approximately $13,042,938.61. This represents a 1.87 % 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 valued at $1,926,730. Insiders own 5.12% of the company's stock.

RadNet Stock Performance

Shares of NASDAQ:RDNT traded up $1.17 during trading on Friday, hitting $53.38. 844,767 shares of the company traded hands, compared to its average volume of 664,827. The stock has a market capitalization of $4.00 billion, a price-to-earnings ratio of -762.46 and a beta of 1.59. RadNet, Inc. has a one year low of $45.00 and a one year high of $93.65. The company has a quick ratio of 2.16, a current ratio of 2.16 and a debt-to-equity ratio of 0.89. The business's fifty day moving average is $50.93 and its 200-day moving average is $64.00.

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

Wall Street Analysts Forecast Growth

Several research analysts have commented on the company. StockNews.com raised RadNet to a "sell" rating in a research report on Wednesday, March 19th. Jefferies Financial Group decreased their price objective on shares of RadNet from $100.00 to $80.00 and set a "buy" rating for the company in a research report on Wednesday, January 15th. Raymond James raised RadNet from an "outperform" rating to a "strong-buy" rating and reduced their price target for the company from $85.00 to $65.00 in a report on Wednesday, March 5th. Truist Financial reduced their price objective on shares of RadNet from $88.00 to $74.00 and set a "buy" rating on the stock in a research note on Friday, April 11th. Finally, Barclays reduced their price target on shares of RadNet from $74.00 to $60.00 and set an "overweight" rating on the stock 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 issued a strong buy rating to the stock. According to data from MarketBeat.com, RadNet currently has a consensus rating of "Buy" and an average price target of $69.75.

About RadNet

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.