Nisa Investment Advisors LLC Decreases Stake in RadNet, Inc. (NASDAQ:RDNT)

Nisa Investment Advisors LLC lessened its stake in shares of RadNet, Inc. (NASDAQ:RDNT) by 76.8% during the 1st quarter, Holdings Channel reports. The firm owned 995 shares of the medical research company’s stock after selling 3,296 shares during the quarter. Nisa Investment Advisors LLC’s holdings in RadNet were worth $49,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently bought and sold shares of the stock. PNC Financial Services Group Inc. raised its holdings in shares of RadNet by 22.2% in the fourth quarter. PNC Financial Services Group Inc. now owns 3,187 shares of the medical research company’s stock worth $223,000 after buying an additional 578 shares during the last quarter. HighTower Advisors LLC increased its position in shares of RadNet by 11.9% in the 4th quarter. HighTower Advisors LLC now owns 8,797 shares of the medical research company’s stock valued at $614,000 after acquiring an additional 936 shares during the period. Swiss National Bank raised its stake in RadNet by 0.7% in the 4th quarter. Swiss National Bank now owns 123,600 shares of the medical research company’s stock worth $8,632,000 after acquiring an additional 900 shares during the last quarter. Commonwealth Equity Services LLC raised its stake in RadNet by 6.6% in the 4th quarter. Commonwealth Equity Services LLC now owns 7,728 shares of the medical research company’s stock worth $540,000 after acquiring an additional 479 shares during the last quarter. Finally, Natixis Advisors LLC lifted its position in RadNet by 8.9% during the 4th quarter. Natixis Advisors LLC now owns 24,539 shares of the medical research company’s stock worth $1,714,000 after acquiring an additional 2,009 shares during the period. Hedge funds and other institutional investors own 77.90% of the company’s stock.

Analyst Upgrades and Downgrades

RDNT has been the subject of several research analyst reports. B. Riley initiated coverage on RadNet in a research note on Friday, June 13th. They issued a “buy” rating and a $69.00 price objective for the company. Barclays reduced 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. Wall Street Zen downgraded shares of RadNet from a “hold” rating to a “sell” rating in a report on Sunday, June 29th. Finally, Truist Financial set a $74.00 target price on shares of RadNet in a report on Thursday, July 10th. One research analyst has rated the stock with a sell rating, three have given a buy rating and three have issued a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus price target of $69.60.

RadNet Trading Down 2.3%

Shares of NASDAQ:RDNT opened at $57.49 on Friday. The company has a current ratio of 2.01, a quick ratio of 2.01 and a debt-to-equity ratio of 0.87. RadNet, Inc. has a 12-month low of $45.00 and a 12-month high of $93.65. The business has a 50 day moving average of $57.29 and a two-hundred day moving average of $57.05. The company has a market capitalization of $4.31 billion, a PE ratio of -133.69 and a beta of 1.41.

Insider Activity at RadNet

In related news, COO Norman R. Hames sold 5,536 shares of the stock in a transaction on Thursday, May 15th. The shares were sold at an average price of $60.00, for a total transaction of $332,160.00. Following the sale, the chief operating officer directly owned 249,183 shares of the company’s stock, valued at approximately $14,950,980. This represents a 2.17% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP Alma Gregory Sorensen sold 55,000 shares of RadNet stock in a transaction on Friday, May 23rd. The shares were sold at an average price of $56.48, for a total transaction of $3,106,400.00. Following the completion of the transaction, the executive vice president directly owned 1,160,509 shares of the company’s stock, valued at $65,545,548.32. The trade was a 4.52% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 63,447 shares of company stock valued at $3,613,220. Insiders own 5.60% of the company’s stock.

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.