RadNet, Inc. (NASDAQ:RDNT) Shares Sold by Rhumbline Advisers

Rhumbline Advisers decreased its holdings in RadNet, Inc. (NASDAQ:RDNT) by 0.2% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 173,881 shares of the medical research company’s stock after selling 352 shares during the quarter. Rhumbline Advisers owned about 0.23% of RadNet worth $12,144,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Legato Capital Management LLC lifted its holdings in shares of RadNet by 40.1% in the 4th quarter. Legato Capital Management LLC now owns 10,035 shares of the medical research company’s stock valued at $701,000 after buying an additional 2,870 shares during the period. Allspring Global Investments Holdings LLC boosted its holdings in shares of RadNet by 30.4% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 1,475,995 shares of the medical research company’s stock worth $103,532,000 after purchasing an additional 344,146 shares during the last quarter. WCM Investment Management LLC acquired a new position in shares of RadNet during the 4th quarter worth approximately $14,110,000. Sumitomo Mitsui DS Asset Management Company Ltd boosted its holdings in shares of RadNet by 4.3% during the 4th quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 7,389 shares of the medical research company’s stock worth $516,000 after purchasing an additional 302 shares during the last quarter. Finally, Guidance Capital Inc. acquired a new position in shares of RadNet during the 4th quarter worth approximately $467,000. Institutional investors and hedge funds own 77.90% of the company’s stock.

RadNet Stock Down 5.1 %

NASDAQ:RDNT opened at $59.47 on Monday. 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 stock’s fifty day moving average is $67.00 and its two-hundred day moving average is $69.23. RadNet, Inc. has a 52 week low of $36.47 and a 52 week high of $93.65. The stock has a market capitalization of $4.40 billion, a price-to-earnings ratio of -849.45 and a beta of 1.79.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on RDNT shares. Jefferies Financial Group decreased their price objective on RadNet from $100.00 to $80.00 and set a “buy” rating on the stock in a report on Wednesday, January 15th. Barclays decreased their price objective on RadNet from $85.00 to $74.00 and set an “overweight” rating on the stock in a report on Wednesday, January 22nd. Finally, Truist Financial reiterated a “buy” rating and issued a $88.00 price objective (down from $94.00) on shares of RadNet in a report on Wednesday, January 22nd. One 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 stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $75.50.

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.