RadNet, Inc. (NASDAQ:RDNT) Stake Raised by Whittier Trust Co. of Nevada Inc.

Whittier Trust Co. of Nevada Inc. grew its holdings in shares of RadNet, Inc. (NASDAQ:RDNT) by 5.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 106,295 shares of the medical research company’s stock after buying an additional 5,654 shares during the period. Whittier Trust Co. of Nevada Inc. owned 0.14% of RadNet worth $7,424,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in the business. HighTower Advisors LLC raised its holdings in shares of RadNet by 1.8% during the third quarter. HighTower Advisors LLC now owns 7,861 shares of the medical research company’s stock valued at $545,000 after buying an additional 136 shares during the last quarter. Highland Capital Management LLC raised its holdings in RadNet by 6.5% during the fourth quarter. Highland Capital Management LLC now owns 3,307 shares of the medical research company’s stock worth $231,000 after purchasing an additional 202 shares in the last quarter. Virtue Capital Management LLC raised its holdings in RadNet by 1.4% during the third quarter. Virtue Capital Management LLC now owns 19,389 shares of the medical research company’s stock worth $1,345,000 after purchasing an additional 264 shares in the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd raised its holdings in RadNet by 4.3% during the fourth quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 7,389 shares of the medical research company’s stock worth $516,000 after purchasing an additional 302 shares in the last quarter. Finally, Fifth Third Bancorp raised its holdings in RadNet by 84.3% during the fourth quarter. Fifth Third Bancorp now owns 667 shares of the medical research company’s stock worth $47,000 after purchasing an additional 305 shares in the last quarter. Institutional investors own 77.90% of the company’s stock.

Insiders Place Their Bets

In other RadNet news, CEO Cornelis Wesdorp sold 1,000 shares of RadNet stock in a transaction that occurred on Friday, March 7th. The shares were sold at an average price of $50.52, for a total transaction of $50,520.00. Following the transaction, the chief executive officer now directly owns 55,995 shares in the company, valued at approximately $2,828,867.40. The trade was a 1.75 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director David L. Swartz sold 25,000 shares of RadNet stock in a transaction that occurred on Friday, March 7th. The stock was sold at an average price of $50.84, for a total transaction of $1,271,000.00. Following the transaction, the director now owns 174,067 shares in the company, valued at approximately $8,849,566.28. The trade was a 12.56 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 38,000 shares of company stock worth $1,926,730. Corporate insiders own 5.12% of the company’s stock.

RadNet Trading Down 2.0 %

RadNet stock opened at $49.71 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 firm has a market cap of $3.68 billion, a price-to-earnings ratio of -710.04 and a beta of 1.85. RadNet, Inc. has a 1 year low of $45.82 and a 1 year high of $93.65. The firm’s 50 day moving average price is $59.17 and its two-hundred day moving average price is $67.57.

RadNet (NASDAQ:RDNT) last posted its quarterly earnings results on Thursday, February 27th. The medical research company reported $0.22 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.21 by $0.01. RadNet had a negative net margin of 0.25% and a positive return on equity of 4.29%. The firm had revenue of $477.10 million for the quarter, compared to analyst estimates of $459.42 million. On average, research analysts predict that RadNet, Inc. will post 0.56 EPS for the current fiscal year.

Wall Street Analyst Weigh In

RDNT has been the topic of several recent analyst reports. Truist Financial reissued a “buy” rating and set a $88.00 target price (down previously from $94.00) on shares of RadNet in a report on Wednesday, January 22nd. Jefferies Financial Group dropped their target price on RadNet from $100.00 to $80.00 and set a “buy” rating on the stock in a report on Wednesday, January 15th. Barclays dropped their target price on RadNet from $85.00 to $74.00 and set an “overweight” rating on the stock in a report on Wednesday, January 22nd. Raymond James raised RadNet from an “outperform” rating to a “strong-buy” rating and dropped their target price for the stock from $85.00 to $65.00 in a report on Wednesday, March 5th. Finally, StockNews.com upgraded shares of RadNet to a “sell” rating in a research report on Wednesday. One research analyst has rated the stock with a sell rating, three have issued a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Buy” and a consensus price target of $76.75.

RadNet 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.