Bleakley Financial Group LLC Trims Stake in RadNet, Inc. (NASDAQ:RDNT)

Bleakley Financial Group LLC lessened its holdings in shares of RadNet, Inc. (NASDAQ:RDNT) by 8.9% during the 4th quarter, HoldingsChannel reports. The fund owned 9,853 shares of the medical research company’s stock after selling 957 shares during the quarter. Bleakley Financial Group LLC’s holdings in RadNet were worth $688,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently modified their holdings of RDNT. State Street Corp lifted its position in RadNet by 1.3% during the third quarter. State Street Corp now owns 2,446,179 shares of the medical research company’s stock valued at $169,740,000 after purchasing an additional 30,244 shares in the last quarter. Geode Capital Management LLC raised its stake 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 during the period. Principal Financial Group Inc. lifted its position in shares of RadNet by 8.5% during the 3rd quarter. Principal Financial Group Inc. now owns 1,506,545 shares of the medical research company’s stock valued at $104,539,000 after buying an additional 118,501 shares in the last quarter. JB Capital Partners LP grew its stake in shares of RadNet by 15.9% during the 3rd quarter. JB Capital Partners LP now owns 1,504,061 shares of the medical research company’s stock valued at $104,367,000 after acquiring an additional 206,850 shares during the period. Finally, Allspring Global Investments Holdings LLC increased its holdings in RadNet by 11.8% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 1,131,849 shares of the medical research company’s stock worth $78,539,000 after acquiring an additional 119,875 shares in the last quarter. 77.90% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at RadNet

In other RadNet news, EVP David Jeffrey Katz sold 12,300 shares of RadNet stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $81.65, for a total value of $1,004,295.00. Following the sale, the executive vice president now owns 62,909 shares of the company’s stock, valued at $5,136,519.85. The trade was a 16.35 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Ranjan Jayanathan sold 38,557 shares of the stock in a transaction that occurred on Tuesday, November 19th. The shares were sold at an average price of $80.00, for a total value of $3,084,560.00. Following the transaction, the insider now owns 192,724 shares of the company’s stock, valued at $15,417,920. This represents a 16.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 5.12% of the stock is currently owned by insiders.

RadNet Trading Down 2.5 %

RadNet stock opened at $62.77 on Monday. The company has a debt-to-equity ratio of 0.89, a current ratio of 2.16 and a quick ratio of 2.16. The firm’s 50 day moving average price is $70.62 and its 200-day moving average price is $69.02. RadNet, Inc. has a 1 year low of $35.16 and a 1 year high of $93.65. The stock has a market cap of $4.65 billion, a P/E ratio of -896.59 and a beta of 1.79.

Wall Street Analyst Weigh In

RDNT has been the topic of several analyst reports. Barclays lowered their price target on shares of RadNet from $85.00 to $74.00 and set an “overweight” rating on the stock in a report on Wednesday, January 22nd. Truist Financial reaffirmed a “buy” rating and issued a $88.00 target price (down previously from $94.00) on shares of RadNet in a report on Wednesday, January 22nd. Finally, Jefferies Financial Group decreased 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 investment analyst has rated the stock with a sell rating, four have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $75.50.

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.