SG Americas Securities LLC Cuts Stock Position in RadNet, Inc. (NASDAQ:RDNT)

SG Americas Securities LLC decreased its holdings in RadNet, Inc. (NASDAQ:RDNT) by 75.8% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 3,928 shares of the medical research company’s stock after selling 12,301 shares during the quarter. SG Americas Securities LLC’s holdings in RadNet were worth $274,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Portolan Capital Management LLC boosted its position in RadNet by 384.8% in the 3rd quarter. Portolan Capital Management LLC now owns 491,358 shares of the medical research company’s stock valued at $34,095,000 after buying an additional 390,011 shares during the period. Harbor Capital Advisors Inc. boosted its holdings in RadNet by 130.5% in the third quarter. Harbor Capital Advisors Inc. now owns 402,205 shares of the medical research company’s stock valued at $27,909,000 after purchasing an additional 227,713 shares during the period. Cerity Partners LLC grew its stake in RadNet by 131.4% during the 3rd quarter. Cerity Partners LLC now owns 387,536 shares of the medical research company’s stock worth $26,891,000 after purchasing an additional 220,068 shares in the last quarter. JB Capital Partners LP increased its holdings in RadNet by 15.9% during the 3rd quarter. JB Capital Partners LP now owns 1,504,061 shares of the medical research company’s stock worth $104,367,000 after purchasing an additional 206,850 shares during the period. Finally, Allspring Global Investments Holdings LLC raised its position in RadNet by 11.8% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 1,131,849 shares of the medical research company’s stock valued at $78,539,000 after purchasing an additional 119,875 shares in the last quarter. Institutional investors and hedge funds own 77.90% of the company’s stock.

Wall Street Analysts Forecast Growth

RDNT has been the topic of a number of recent research reports. Barclays cut their target price 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. Jefferies Financial Group reduced their price objective on shares of RadNet from $100.00 to $80.00 and set a “buy” rating on the stock in a report on Wednesday, January 15th. Finally, Truist Financial reiterated a “buy” rating and set a $88.00 target price (down previously from $94.00) on shares of RadNet in a research note on Wednesday, January 22nd. One equities research analyst has rated the stock with a sell rating, four have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $75.50.

RadNet Stock Performance

Shares of RDNT stock opened at $67.35 on Thursday. RadNet, Inc. has a 1 year low of $35.16 and a 1 year high of $93.65. 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 $4.99 billion, a price-to-earnings ratio of -962.01 and a beta of 1.79. The stock’s 50-day moving average is $71.36 and its two-hundred day moving average is $68.98.

Insider Buying and Selling

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

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.