Sei Investments Co. Purchases 16,643 Shares of RadNet, Inc. (NASDAQ:RDNT)

Sei Investments Co. lifted its holdings in RadNet, Inc. (NASDAQ:RDNT) by 6.9% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 256,906 shares of the medical research company’s stock after purchasing an additional 16,643 shares during the period. Sei Investments Co. owned about 0.35% of RadNet worth $17,943,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. USA Financial Formulas purchased a new position in shares of RadNet during the 4th quarter worth $30,000. Fifth Third Bancorp lifted its position in RadNet by 84.3% during the fourth quarter. Fifth Third Bancorp now owns 667 shares of the medical research company’s stock valued at $47,000 after purchasing an additional 305 shares in the last quarter. Smartleaf Asset Management LLC grew its holdings in RadNet by 377.0% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,345 shares of the medical research company’s stock valued at $96,000 after purchasing an additional 1,063 shares during the period. Twin Tree Management LP bought a new stake in RadNet during the fourth quarter valued at about $106,000. Finally, IFP Advisors Inc increased its position in RadNet by 39.1% in the fourth quarter. IFP Advisors Inc now owns 1,697 shares of the medical research company’s stock worth $119,000 after buying an additional 477 shares in the last quarter. Hedge funds and other institutional investors own 77.90% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on RDNT. Truist Financial reiterated a “buy” rating and set a $88.00 price objective (down from $94.00) on shares of RadNet in a research note on Wednesday, January 22nd. StockNews.com raised shares of RadNet to a “sell” rating in a research note on Wednesday, March 19th. Jefferies Financial Group lowered their target price on shares of RadNet from $100.00 to $80.00 and set a “buy” rating on the stock in a research note on Wednesday, January 15th. Raymond James upgraded RadNet from an “outperform” rating to a “strong-buy” rating and cut their price target for the stock from $85.00 to $65.00 in a research note on Wednesday, March 5th. Finally, Barclays decreased their price target on RadNet from $74.00 to $60.00 and set an “overweight” rating on the stock in a report on Monday. One research analyst has rated the stock with a sell rating, three have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Buy” and a consensus price target of $73.25.

RadNet Stock Performance

RDNT opened at $50.67 on Friday. The company has a debt-to-equity ratio of 0.89, a quick ratio of 2.16 and a current ratio of 2.16. The stock has a market capitalization of $3.75 billion, a price-to-earnings ratio of -723.75 and a beta of 1.85. The company has a fifty day moving average of $57.76 and a 200 day moving average of $67.13. RadNet, Inc. has a fifty-two week low of $45.82 and a fifty-two week high of $93.65.

RadNet (NASDAQ:RDNT) last issued its quarterly earnings data on Thursday, February 27th. The medical research company reported $0.22 earnings per share for the quarter, beating analysts’ consensus estimates of $0.21 by $0.01. The firm had revenue of $477.10 million during the quarter, compared to analyst estimates 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, sell-side analysts forecast that RadNet, Inc. will post 0.56 earnings per share for the current fiscal year.

Insider Activity

In other news, COO Norman R. Hames sold 5,000 shares of the company’s stock in a transaction dated Wednesday, March 19th. The shares were sold at an average price of $50.22, for a total transaction of $251,100.00. Following the sale, the chief operating officer now directly owns 251,959 shares in the company, valued at approximately $12,653,380.98. This represents a 1.95 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Cornelis Wesdorp sold 2,000 shares of the business’s stock in a transaction that occurred on Wednesday, March 5th. The stock was sold at an average price of $52.58, for a total value of $105,160.00. Following the sale, the chief executive officer now directly owns 58,995 shares in the company, valued at $3,101,957.10. The trade was a 3.28 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 38,000 shares of company stock worth $1,926,730. 5.12% of the stock is currently owned by insiders.

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.