RadNet, Inc. (NASDAQ:RDNT) Shares Sold by Everence Capital Management Inc.

Everence Capital Management Inc. lowered its stake in RadNet, Inc. (NASDAQ:RDNT) by 65.0% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 3,960 shares of the medical research company’s stock after selling 7,360 shares during the period. Everence Capital Management Inc.’s holdings in RadNet were worth $277,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently modified their holdings of the company. Lisanti Capital Growth LLC acquired a new stake in shares of RadNet during the third quarter worth $2,922,000. Franklin Resources Inc. raised its holdings in RadNet by 12.0% during the 3rd quarter. Franklin Resources Inc. now owns 387,061 shares of the medical research company’s stock worth $27,334,000 after buying an additional 41,381 shares during the period. Intech Investment Management LLC purchased a new stake in RadNet during the second quarter valued at about $446,000. Pathstone Holdings LLC boosted its holdings in shares of RadNet by 58.5% in the third quarter. Pathstone Holdings LLC now owns 27,503 shares of the medical research company’s stock worth $1,908,000 after buying an additional 10,151 shares during the period. Finally, Steigerwald Gordon & Koch Inc. increased its position in shares of RadNet by 153.9% in the second quarter. Steigerwald Gordon & Koch Inc. now owns 15,470 shares of the medical research company’s stock worth $911,000 after acquiring an additional 9,376 shares in the last quarter. Institutional investors and hedge funds own 77.90% of the company’s stock.

Insider Buying and Selling at RadNet

In other news, insider Ranjan Jayanathan sold 38,557 shares of the stock in a transaction on Tuesday, November 19th. The shares were sold at an average price of $80.00, for a total transaction of $3,084,560.00. Following the transaction, the insider now owns 192,724 shares in the company, valued at $15,417,920. This represents a 16.67 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP David Jeffrey Katz sold 12,300 shares of RadNet stock in a transaction 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 approximately $5,136,519.85. The trade was a 16.35 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 5.12% of the company’s stock.

RadNet Trading Down 0.4 %

RadNet stock opened at $72.43 on Wednesday. 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, Inc. has a 12 month low of $34.90 and a 12 month high of $93.65. The company’s fifty day simple moving average is $76.07 and its 200-day simple moving average is $68.12. The stock has a market cap of $5.36 billion, a P/E ratio of -1,034.57 and a beta of 1.79.

Analysts Set New Price Targets

Several equities research analysts recently commented on RDNT shares. Barclays upped their price target on shares of RadNet from $79.00 to $85.00 and gave the company an “overweight” rating in a research report on Wednesday, December 4th. Jefferies Financial Group increased their target price on RadNet from $82.00 to $100.00 and gave the company a “buy” rating in a report on Thursday, December 5th. Sidoti upgraded RadNet to a “strong-buy” rating in a report on Friday, October 4th. Finally, Truist Financial increased their price objective on RadNet from $80.00 to $94.00 and gave the stock a “buy” rating in a research note on Friday, November 29th. One investment analyst has rated the stock with a sell rating, four have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, RadNet presently has a consensus rating of “Moderate Buy” and a consensus price target of $84.75.

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.