RadNet, Inc. (NASDAQ:RDNT) Shares Sold by Corebridge Financial Inc.

Corebridge Financial Inc. trimmed its holdings in RadNet, Inc. (NASDAQ:RDNT) by 7.2% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 35,167 shares of the medical research company’s stock after selling 2,741 shares during the period. Corebridge Financial Inc.’s holdings in RadNet were worth $2,456,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of RDNT. USA Financial Formulas acquired a new stake in RadNet in the 4th quarter valued at about $30,000. Fifth Third Bancorp grew its position in shares of RadNet by 84.3% in 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 increased its holdings in shares of RadNet by 377.0% in 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 last quarter. Twin Tree Management LP purchased a new position in RadNet during the fourth quarter worth approximately $106,000. Finally, IFP Advisors Inc boosted its stake in RadNet by 39.1% during 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 during the last quarter. 77.90% of the stock is owned by hedge funds and other institutional investors.

RadNet Stock Performance

Shares of RDNT stock opened at $50.62 on Wednesday. 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 $3.75 billion, a P/E ratio of -723.04 and a beta of 1.85. The firm’s 50 day moving average price is $57.16 and its 200-day moving average price is $66.89. RadNet, Inc. has a one year low of $45.82 and a one year high of $93.65.

RadNet (NASDAQ:RDNT) last released its quarterly earnings results on Thursday, February 27th. The medical research company reported $0.22 EPS for the quarter, topping the consensus estimate of $0.21 by $0.01. The business 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, equities research analysts predict that RadNet, Inc. will post 0.56 EPS for the current year.

Insider Buying and Selling at RadNet

In other RadNet news, COO Norman R. Hames sold 5,000 shares of the business’s stock in a transaction on Monday, March 17th. The shares were sold at an average price of $49.79, for a total value of $248,950.00. Following the completion of the transaction, the chief operating officer now owns 261,959 shares in the company, valued at $13,042,938.61. The trade was a 1.87 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Cornelis Wesdorp sold 2,000 shares of the stock in a transaction on Wednesday, March 5th. The shares were sold at an average price of $52.58, for a total value of $105,160.00. Following the completion of the sale, the chief executive officer now owns 58,995 shares in the company, valued at approximately $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. Insiders sold a total of 38,000 shares of company stock valued at $1,926,730 in the last three months. 5.12% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

RDNT has been the topic of several analyst reports. Jefferies Financial Group reduced 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. Barclays reduced their target price on shares of RadNet from $74.00 to $60.00 and set an “overweight” rating on the stock in a research note on Monday, March 24th. Raymond James raised shares of RadNet from an “outperform” rating to a “strong-buy” rating and dropped their price target for the company from $85.00 to $65.00 in a research note on Wednesday, March 5th. Truist Financial reiterated a “buy” rating and issued a $88.00 price objective (down from $94.00) on shares of RadNet in a report on Wednesday, January 22nd. Finally, StockNews.com upgraded RadNet to a “sell” rating in a research report on Wednesday, March 19th. One equities research analyst has rated the stock with a sell rating, three have assigned a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus target price 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.