Segall Bryant & Hamill LLC Reduces Stake in RadNet, Inc. (NASDAQ:RDNT)

Segall Bryant & Hamill LLC cut its stake in RadNet, Inc. (NASDAQ:RDNT) by 1.3% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 206,803 shares of the medical research company’s stock after selling 2,779 shares during the quarter. Segall Bryant & Hamill LLC’s holdings in RadNet were worth $14,443,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of RDNT. Natixis Advisors LLC increased its position in RadNet by 11.4% during the third quarter. Natixis Advisors LLC now owns 22,530 shares of the medical research company’s stock worth $1,563,000 after purchasing an additional 2,305 shares during the last quarter. Pathstone Holdings LLC grew its stake in shares of RadNet by 58.5% in the 3rd quarter. Pathstone Holdings LLC now owns 27,503 shares of the medical research company’s stock valued at $1,908,000 after buying an additional 10,151 shares during the period. Intech Investment Management LLC increased its holdings in shares of RadNet by 178.3% during the 3rd quarter. Intech Investment Management LLC now owns 21,078 shares of the medical research company’s stock worth $1,463,000 after buying an additional 13,505 shares during the last quarter. Citigroup Inc. raised its position in shares of RadNet by 23.0% during the 3rd quarter. Citigroup Inc. now owns 174,878 shares of the medical research company’s stock valued at $12,135,000 after buying an additional 32,673 shares during the period. Finally, Harvest Fund Management Co. Ltd lifted its holdings in RadNet by 112.0% in the third quarter. Harvest Fund Management Co. Ltd now owns 13,495 shares of the medical research company’s stock valued at $936,000 after acquiring an additional 7,128 shares during the last quarter. Hedge funds and other institutional investors own 77.90% of the company’s stock.

Insider Transactions at RadNet

In related news, Director David L. Swartz sold 25,000 shares of the business’s stock in a transaction on Friday, March 7th. The stock was sold at an average price of $50.84, for a total transaction of $1,271,000.00. Following the completion of the transaction, the director now directly owns 174,067 shares of the company’s stock, valued at $8,849,566.28. The trade was a 12.56 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, COO Norman R. Hames sold 5,000 shares of the company’s stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $49.79, for a total value of $248,950.00. Following the sale, the chief operating officer now owns 261,959 shares in the company, valued at approximately $13,042,938.61. This trade represents a 1.87 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 38,000 shares of company stock valued at $1,926,730. 5.12% of the stock is currently owned by company insiders.

RadNet Stock Performance

Shares of RadNet stock opened at $50.70 on Wednesday. The company has a debt-to-equity ratio of 0.89, a current ratio of 2.16 and a quick ratio of 2.16. The stock has a market capitalization of $3.75 billion, a price-to-earnings ratio of -724.18 and a beta of 1.85. The business has a 50-day moving average of $58.18 and a 200 day moving average of $67.36. RadNet, Inc. has a 12 month low of $45.82 and a 12 month high of $93.65.

RadNet (NASDAQ:RDNT) last posted its quarterly earnings data on Thursday, February 27th. The medical research company reported $0.22 EPS for the quarter, beating the consensus estimate of $0.21 by $0.01. RadNet had a negative net margin of 0.25% and a positive return on equity of 4.29%. The business had revenue of $477.10 million during the quarter, compared to analyst estimates of $459.42 million. As a group, sell-side analysts forecast that RadNet, Inc. will post 0.56 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on RDNT shares. StockNews.com raised RadNet to a “sell” rating in a research note on Wednesday, March 19th. 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. Raymond James raised shares of RadNet from an “outperform” rating to a “strong-buy” rating and lowered their target price for the stock from $85.00 to $65.00 in a research note on Wednesday, March 5th. Barclays dropped their price target on shares of RadNet from $74.00 to $60.00 and set an “overweight” rating for the company in a research report on Monday. Finally, Truist Financial restated 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 analyst has rated the stock with a sell rating, three have given a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus price target of $73.25.

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.