HighTower Advisors LLC Purchases 936 Shares of RadNet, Inc. (NASDAQ:RDNT)

HighTower Advisors LLC increased its position in shares of RadNet, Inc. (NASDAQ:RDNT) by 11.9% during the 4th quarter, Holdings Channel reports. The firm owned 8,797 shares of the medical research company’s stock after acquiring an additional 936 shares during the period. HighTower Advisors LLC’s holdings in RadNet were worth $614,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of RDNT. State Street Corp boosted its stake in RadNet by 1.3% in the 3rd quarter. State Street Corp now owns 2,446,179 shares of the medical research company’s stock worth $169,740,000 after purchasing an additional 30,244 shares during the period. Geode Capital Management LLC lifted its holdings in shares of RadNet by 0.8% in the third quarter. Geode Capital Management LLC now owns 1,555,214 shares of the medical research company’s stock worth $107,936,000 after buying an additional 11,613 shares in the last quarter. Principal Financial Group Inc. boosted its position in shares of RadNet by 8.5% during the third quarter. Principal Financial Group Inc. now owns 1,506,545 shares of the medical research company’s stock worth $104,539,000 after acquiring an additional 118,501 shares during the last quarter. Allspring Global Investments Holdings LLC grew its stake in RadNet by 30.4% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 1,475,995 shares of the medical research company’s stock valued at $103,532,000 after acquiring an additional 344,146 shares in the last quarter. Finally, FMR LLC grew its stake in RadNet by 0.3% during the third quarter. FMR LLC now owns 701,396 shares of the medical research company’s stock valued at $48,670,000 after acquiring an additional 2,242 shares in the last quarter. Hedge funds and other institutional investors own 77.90% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have commented on RDNT shares. Raymond James raised 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. StockNews.com raised RadNet to a “sell” rating in a research note on Wednesday, March 19th. Barclays reduced their price objective on RadNet from $74.00 to $60.00 and set an “overweight” rating on the stock in a research note on Monday, March 24th. Jefferies Financial Group decreased their price objective on RadNet from $100.00 to $80.00 and set a “buy” rating on the stock in a report on Wednesday, January 15th. Finally, Truist Financial reissued a “buy” rating and issued a $88.00 target price (down from $94.00) on shares of RadNet in a report on Wednesday, January 22nd. One equities research analyst has rated the stock with a sell rating, three have issued a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Buy” and a consensus target price of $73.25.

Insider Activity

In related news, COO Norman R. Hames sold 5,000 shares of the firm’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 trade represents a 1.87 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Cornelis Wesdorp sold 2,000 shares of the company’s stock in a transaction on Wednesday, March 5th. The shares were sold at an average price of $52.58, for a total value of $105,160.00. Following the completion of the transaction, the chief executive officer now directly owns 58,995 shares in the company, valued at $3,101,957.10. This trade represents a 3.28 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 38,000 shares of company stock valued at $1,926,730. 5.12% of the stock is currently owned by company insiders.

RadNet Stock Down 2.4 %

Shares of NASDAQ:RDNT opened at $49.44 on Friday. The company has a 50-day moving average price of $57.55 and a 200 day moving average price of $67.10. The company has a current ratio of 2.16, a quick ratio of 2.16 and a debt-to-equity ratio of 0.89. RadNet, Inc. has a 12 month low of $45.82 and a 12 month high of $93.65. The company has a market cap of $3.66 billion, a price-to-earnings ratio of -706.18 and a beta of 1.85.

RadNet (NASDAQ:RDNT) last announced its earnings results on Thursday, February 27th. The medical research company reported $0.22 EPS for the quarter, topping 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 firm had revenue of $477.10 million during the quarter, compared to analysts’ expectations of $459.42 million. As a group, equities research analysts predict that RadNet, Inc. will post 0.56 earnings per share for the current year.

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.