Yousif Capital Management LLC Cuts Stock Holdings in RadNet, Inc. (NASDAQ:RDNT)

Yousif Capital Management LLC lessened its position in RadNet, Inc. (NASDAQ:RDNT) by 1.8% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 25,171 shares of the medical research company’s stock after selling 472 shares during the quarter. Yousif Capital Management LLC’s holdings in RadNet were worth $1,758,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the company. Lisanti Capital Growth LLC acquired a new stake in RadNet during the 3rd quarter worth $2,922,000. Franklin Resources Inc. lifted its stake in shares of RadNet by 12.0% in the third 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 in the last quarter. KBC Group NV boosted its position in RadNet by 47.6% during the fourth quarter. KBC Group NV now owns 2,678 shares of the medical research company’s stock worth $187,000 after acquiring an additional 864 shares during the last quarter. Pathstone Holdings LLC grew its stake in RadNet by 58.5% during the 3rd quarter. Pathstone Holdings LLC now owns 27,503 shares of the medical research company’s stock valued at $1,908,000 after acquiring an additional 10,151 shares in the last quarter. Finally, JPMorgan Chase & Co. raised its holdings in RadNet by 1.4% in the 3rd quarter. JPMorgan Chase & Co. now owns 132,997 shares of the medical research company’s stock valued at $9,229,000 after acquiring an additional 1,838 shares during the last quarter. 77.90% of the stock is owned by institutional investors and hedge funds.

RadNet Price Performance

NASDAQ:RDNT opened at $61.78 on Wednesday. The stock’s fifty day moving average is $70.21 and its two-hundred day moving average is $69.02. RadNet, Inc. has a 52 week low of $36.47 and a 52 week high of $93.65. 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 has a market capitalization of $4.57 billion, a P/E ratio of -882.45 and a beta of 1.79.

Insider Buying and Selling at RadNet

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

Analysts Set New Price Targets

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