Knights of Columbus Asset Advisors LLC Sells 9,587 Shares of RadNet, Inc. (NASDAQ:RDNT)

Knights of Columbus Asset Advisors LLC trimmed its position in shares of RadNet, Inc. (NASDAQ:RDNT) by 21.3% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 35,472 shares of the medical research company’s stock after selling 9,587 shares during the period. Knights of Columbus Asset Advisors LLC’s holdings in RadNet were worth $2,477,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in RDNT. Natixis Advisors LLC increased its stake in RadNet by 11.4% during the third quarter. Natixis Advisors LLC now owns 22,530 shares of the medical research company’s stock valued at $1,563,000 after acquiring an additional 2,305 shares during the period. Pathstone Holdings LLC grew its stake in shares of RadNet by 58.5% in the 3rd quarter. Pathstone Holdings LLC now owns 27,503 shares of the medical research company’s stock valued at $1,908,000 after purchasing an additional 10,151 shares during the period. Jennison Associates LLC bought a new stake in shares of RadNet in the 3rd quarter valued at approximately $1,490,000. Connor Clark & Lunn Investment Management Ltd. bought a new stake in shares of RadNet in the 3rd quarter valued at approximately $2,756,000. Finally, Intech Investment Management LLC grew its stake in shares of RadNet by 178.3% in the 3rd quarter. Intech Investment Management LLC now owns 21,078 shares of the medical research company’s stock valued at $1,463,000 after purchasing an additional 13,505 shares during the period. 77.90% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other RadNet news, CEO Cornelis Wesdorp sold 2,000 shares of the company’s stock in a transaction on Wednesday, March 5th. The stock was sold at an average price of $52.58, for a total transaction of $105,160.00. Following the transaction, the chief executive officer now owns 58,995 shares of the company’s stock, valued at approximately $3,101,957.10. This represents a 3.28 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director David L. Swartz sold 25,000 shares of the company’s stock in a transaction on Friday, March 7th. The stock was sold at an average price of $50.84, for a total value of $1,271,000.00. Following the transaction, the director now directly owns 174,067 shares in the company, valued at approximately $8,849,566.28. This represents a 12.56 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 38,000 shares of company stock valued at $1,926,730. 5.12% of the stock is currently owned by corporate insiders.

RadNet Stock Down 0.9 %

NASDAQ RDNT opened at $49.25 on Friday. The firm has a market cap of $3.65 billion, a PE ratio of -703.47 and a beta of 1.85. RadNet, Inc. has a one year low of $45.82 and a one year high of $93.65. The stock’s 50 day simple moving average is $58.78 and its 200 day simple moving average is $67.49. The company has a debt-to-equity ratio of 0.89, a current ratio of 2.16 and a quick ratio of 2.16.

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 analysts’ consensus estimates of $0.21 by $0.01. The business had revenue of $477.10 million for 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.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the company. StockNews.com upgraded RadNet to a “sell” rating in a research note on Wednesday. Truist Financial reiterated a “buy” rating and issued a $88.00 price objective (down from $94.00) on shares of RadNet in a research note on Wednesday, January 22nd. Raymond James upgraded RadNet from an “outperform” rating to a “strong-buy” rating and lowered their price objective for the company from $85.00 to $65.00 in a research note on Wednesday, March 5th. Jefferies Financial Group lowered 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, Barclays lowered their price objective on RadNet from $85.00 to $74.00 and set an “overweight” rating on the stock in a research note on Wednesday, January 22nd. One research analyst has rated the stock with a sell rating, three have given a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, RadNet presently has a consensus rating of “Buy” and a consensus target price 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.