RadNet, Inc. (NASDAQ:RDNT) Shares Sold by Thrivent Financial for Lutherans

Thrivent Financial for Lutherans lowered its position in RadNet, Inc. (NASDAQ:RDNT) by 1.5% during the fourth quarter, HoldingsChannel.com reports. The fund owned 50,353 shares of the medical research company’s stock after selling 755 shares during the quarter. Thrivent Financial for Lutherans’ holdings in RadNet were worth $3,517,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. USA Financial Formulas purchased a new stake in RadNet during the fourth quarter worth $30,000. Fifth Third Bancorp boosted its position in shares of RadNet by 84.3% in the 4th quarter. Fifth Third Bancorp now owns 667 shares of the medical research company’s stock worth $47,000 after buying an additional 305 shares in the last quarter. Smartleaf Asset Management LLC boosted its position in shares of RadNet by 377.0% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,345 shares of the medical research company’s stock worth $96,000 after buying an additional 1,063 shares in the last quarter. Twin Tree Management LP acquired a new stake in RadNet in the 4th quarter valued at about $106,000. Finally, IFP Advisors Inc increased its holdings in RadNet by 39.1% during the 4th quarter. IFP Advisors Inc now owns 1,697 shares of the medical research company’s stock valued at $119,000 after acquiring an additional 477 shares in the last quarter. 77.90% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, COO Norman R. Hames sold 5,000 shares of the company’s stock in a transaction on Wednesday, March 19th. The stock was sold at an average price of $50.22, for a total transaction of $251,100.00. Following the completion of the sale, the chief operating officer now directly owns 251,959 shares in the company, valued at $12,653,380.98. This represents a 1.95 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director David L. Swartz sold 25,000 shares of RadNet stock in a transaction on Friday, March 7th. The shares were sold at an average price of $50.84, for a total value of $1,271,000.00. Following the completion of the transaction, the director now owns 174,067 shares in the company, valued at $8,849,566.28. The trade was a 12.56 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 38,000 shares of company stock valued at $1,926,730 over the last quarter. Company insiders own 5.12% of the company’s stock.

RadNet Price Performance

Shares of NASDAQ:RDNT opened at $50.72 on Thursday. The company has a market cap of $3.76 billion, a P/E ratio of -724.47 and a beta of 1.85. The business has a fifty day simple moving average of $57.96 and a 200-day simple moving average of $67.25. RadNet, Inc. has a 52 week low of $45.82 and a 52 week high of $93.65. 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 (NASDAQ:RDNT) last posted its quarterly earnings results on Thursday, February 27th. The medical research company reported $0.22 EPS for the quarter, beating the consensus estimate of $0.21 by $0.01. The company had revenue of $477.10 million during the quarter, compared to analysts’ expectations of $459.42 million. RadNet had a positive return on equity of 4.29% and a negative net margin of 0.25%. Equities research analysts forecast that RadNet, Inc. will post 0.56 EPS for the current year.

Analyst Ratings Changes

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

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.