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

Bleakley Financial Group LLC lessened its position in RadNet, Inc. (NASDAQ:RDNT) by 8.9% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm 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 & Exchange Commission.

Several other hedge funds also recently made changes to their positions in 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 buying an additional 30,244 shares during the period. Geode Capital Management LLC increased 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 worth $107,936,000 after acquiring an additional 11,613 shares in the last quarter. Principal Financial Group Inc. lifted its position in 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 acquiring an additional 118,501 shares during the period. JB Capital Partners LP boosted its stake in RadNet by 15.9% during the third quarter. JB Capital Partners LP now owns 1,504,061 shares of the medical research company’s stock worth $104,367,000 after acquiring an additional 206,850 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC grew its holdings in RadNet by 11.8% in the third quarter. Allspring Global Investments Holdings LLC now owns 1,131,849 shares of the medical research company’s stock worth $78,539,000 after purchasing an additional 119,875 shares during the period. 77.90% of the stock is currently owned by institutional investors.

Insider Transactions at RadNet

In other RadNet news, insider Ranjan Jayanathan sold 38,557 shares of the business’s stock in a transaction on Tuesday, November 19th. The shares were sold at an average price of $80.00, for a total transaction of $3,084,560.00. Following the completion of the sale, the insider now directly owns 192,724 shares in the company, valued at approximately $15,417,920. The trade was a 16.67 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP David Jeffrey Katz sold 12,300 shares of the firm’s stock in a transaction 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 completion of the transaction, the executive vice president now owns 62,909 shares in the company, valued at approximately $5,136,519.85. This trade represents a 16.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 5.12% of the company’s stock.

RadNet Price Performance

Shares of NASDAQ RDNT opened at $62.77 on Monday. The company has a 50 day moving average of $70.62 and a 200 day moving average of $69.02. The company has a quick ratio of 2.16, a current ratio of 2.16 and a debt-to-equity ratio of 0.89. RadNet, Inc. has a twelve month low of $35.16 and a twelve month high of $93.65. The firm has a market cap of $4.65 billion, a P/E ratio of -896.59 and a beta of 1.79.

Analyst Ratings Changes

Several equities analysts have recently issued reports on RDNT shares. Jefferies Financial Group dropped their price target on RadNet from $100.00 to $80.00 and set a “buy” rating on the stock in a research report on Wednesday, January 15th. 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. Finally, Barclays reduced their price target on RadNet from $85.00 to $74.00 and set an “overweight” rating for the company in a report on Wednesday, January 22nd. One equities research analyst has rated the stock with a sell rating, four have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, RadNet currently has an average rating of “Moderate Buy” and a consensus price target of $75.50.

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.