RadNet, Inc. (NASDAQ:RDNT) Shares Sold by Calamos Advisors LLC

Calamos Advisors LLC lessened its position in RadNet, Inc. (NASDAQ:RDNT) by 50.5% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 54,991 shares of the medical research company’s stock after selling 56,155 shares during the period. Calamos Advisors LLC’s holdings in RadNet were worth $3,841,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. USA Financial Formulas purchased a new position in shares of RadNet during the 4th quarter worth $30,000. Covestor Ltd increased its stake in RadNet by 10,875.0% in the third quarter. Covestor Ltd now owns 439 shares of the medical research company’s stock valued at $30,000 after purchasing an additional 435 shares during the last quarter. 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 worth $47,000 after buying an additional 305 shares during the period. Highline Wealth Partners LLC acquired a new stake in RadNet in the 3rd quarter worth about $68,000. Finally, Peterson Financial Group Inc. purchased a new stake in RadNet in the 3rd quarter valued at about $90,000. Institutional investors and hedge funds own 77.90% of the company’s stock.

Insiders Place Their Bets

In related news, insider Ranjan Jayanathan sold 38,557 shares of the business’s stock in a transaction that occurred on Tuesday, November 19th. The stock was sold at an average price of $80.00, for a total transaction of $3,084,560.00. Following the transaction, the insider now directly owns 192,724 shares of the company’s stock, valued at approximately $15,417,920. The trade was a 16.67 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, EVP David Jeffrey Katz sold 12,300 shares of the stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $81.65, for a total transaction of $1,004,295.00. Following the completion of the sale, the executive vice president now directly owns 62,909 shares of the company’s stock, valued at $5,136,519.85. This trade represents a 16.35 % decrease in their position. The disclosure for this sale can be found here. 5.12% of the stock is owned by insiders.

RadNet Stock Up 0.8 %

RDNT opened at $67.15 on Wednesday. RadNet, Inc. has a 1 year low of $35.16 and a 1 year high of $93.65. The firm has a 50 day moving average price of $71.67 and a 200 day moving average price of $68.99. 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 company has a market cap of $4.97 billion, a PE ratio of -959.15 and a beta of 1.79.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the stock. Truist Financial reiterated a “buy” rating and set a $88.00 price objective (down from $94.00) on shares of RadNet in a report on Wednesday, January 22nd. Barclays cut their price target on shares of RadNet from $85.00 to $74.00 and set an “overweight” rating on the stock in a research note on Wednesday, January 22nd. Finally, Jefferies Financial Group lowered their price objective on shares of RadNet from $100.00 to $80.00 and set a “buy” rating for the company in a research note on Wednesday, January 15th. One investment analyst has rated the stock with a sell rating, four have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price 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.