Loomis Sayles & Co. L P Sells 24,390 Shares of RadNet, Inc. (NASDAQ:RDNT)

Loomis Sayles & Co. L P reduced its stake in RadNet, Inc. (NASDAQ:RDNT) by 2.8% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 834,746 shares of the medical research company’s stock after selling 24,390 shares during the period. Loomis Sayles & Co. L P’s holdings in RadNet were worth $58,298,000 as of its most recent SEC filing.

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

Insider Buying and Selling

In related news, Director David L. Swartz sold 25,000 shares of RadNet stock in a transaction that occurred 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 sale, the director now owns 174,067 shares of the company’s stock, valued at approximately $8,849,566.28. The trade was a 12.56 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 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 transaction, the chief executive officer now directly owns 58,995 shares of the company’s stock, valued at approximately $3,101,957.10. This trade represents a 3.28 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 38,000 shares of company stock valued at $1,926,730. 5.12% of the stock is owned by insiders.

RadNet Price Performance

RadNet stock opened at $50.72 on Thursday. The stock has a market cap of $3.76 billion, a P/E ratio of -724.47 and a beta of 1.85. The company has a quick ratio of 2.16, a current ratio of 2.16 and a debt-to-equity ratio of 0.89. The company’s 50 day moving average price is $57.96 and its two-hundred day moving average price is $67.25. RadNet, Inc. has a 52 week low of $45.82 and a 52 week high of $93.65.

RadNet (NASDAQ:RDNT) last issued 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%. On average, equities analysts predict that RadNet, Inc. will post 0.56 earnings per share for the current year.

Analyst Ratings Changes

A number of analysts have commented on the stock. Truist Financial restated a “buy” rating and set a $88.00 price target (down previously from $94.00) on shares of RadNet in a research note on Wednesday, January 22nd. Barclays lowered their target price 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 cut their price target 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 for the company in a research note on Wednesday, January 15th. Finally, StockNews.com raised RadNet to a “sell” rating in a research report on Wednesday, March 19th. One investment analyst has rated the stock with a sell rating, three have assigned a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Buy” and an average price target of $73.25.

RadNet Company 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.