RadNet, Inc. (NASDAQ:RDNT) Shares Sold by American Century Companies Inc.

American Century Companies Inc. decreased its stake in shares of RadNet, Inc. (NASDAQ:RDNT) by 49.6% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 209,412 shares of the medical research company’s stock after selling 206,017 shares during the period. American Century Companies Inc. owned approximately 0.28% of RadNet worth $14,625,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Whittier Trust Co. of Nevada Inc. lifted its position in RadNet by 5.6% in the fourth quarter. Whittier Trust Co. of Nevada Inc. now owns 106,295 shares of the medical research company’s stock worth $7,424,000 after purchasing an additional 5,654 shares during the period. Whittier Trust Co. lifted its holdings in shares of RadNet by 4.5% in the fourth quarter. Whittier Trust Co. now owns 206,783 shares of the medical research company’s stock valued at $14,442,000 after buying an additional 8,862 shares during the period. Northwest & Ethical Investments L.P. boosted its stake in RadNet by 19.0% during the fourth quarter. Northwest & Ethical Investments L.P. now owns 4,475 shares of the medical research company’s stock valued at $312,000 after buying an additional 714 shares in the last quarter. Xponance Inc. grew its holdings in RadNet by 10.4% during the fourth quarter. Xponance Inc. now owns 4,771 shares of the medical research company’s stock worth $333,000 after acquiring an additional 451 shares during the period. Finally, Cibc World Markets Corp bought a new stake in RadNet in the fourth quarter worth about $432,000. 77.90% of the stock is currently owned by institutional investors.

RadNet Stock Performance

Shares of RadNet stock opened at $50.62 on Wednesday. RadNet, Inc. has a 12 month low of $45.82 and a 12 month 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 stock has a market cap of $3.75 billion, a PE ratio of -723.04 and a beta of 1.85. The business has a fifty day simple moving average of $57.16 and a 200-day simple moving average of $66.89.

RadNet (NASDAQ:RDNT) last announced its quarterly earnings data 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 firm had revenue of $477.10 million during 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, sell-side analysts anticipate that RadNet, Inc. will post 0.56 EPS for the current fiscal year.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the stock. Barclays reduced their price objective on shares of RadNet from $74.00 to $60.00 and set an “overweight” rating for the company in a research report on Monday, March 24th. StockNews.com upgraded shares of RadNet to a “sell” rating in a research report on Wednesday, March 19th. Raymond James upgraded RadNet from an “outperform” rating to a “strong-buy” rating and cut their price objective for the company from $85.00 to $65.00 in a research report on Wednesday, March 5th. 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 reduced their target price on RadNet from $100.00 to $80.00 and set a “buy” rating for the company in a report on Wednesday, January 15th. One investment analyst has rated the stock with a sell rating, three have given a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, RadNet presently has an average rating of “Buy” and a consensus target price of $73.25.

Insider Activity at RadNet

In related news, Director David L. Swartz sold 25,000 shares of the business’s stock in a transaction that occurred on Friday, March 7th. The stock was sold at an average price of $50.84, for a total value of $1,271,000.00. Following the completion of 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 sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Cornelis Wesdorp sold 1,000 shares of the firm’s stock in a transaction on Friday, March 7th. The shares were sold at an average price of $50.52, for a total transaction of $50,520.00. Following the transaction, the chief executive officer now owns 55,995 shares in the company, valued at $2,828,867.40. This represents a 1.75 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 38,000 shares of company stock valued at $1,926,730. Corporate insiders own 5.12% of the company’s stock.

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.