Emerald Mutual Fund Advisers Trust Sells 80,958 Shares of RadNet, Inc. (NASDAQ:RDNT)

Emerald Mutual Fund Advisers Trust reduced its holdings in shares of RadNet, Inc. (NASDAQ:RDNT) by 15.9% in the fourth quarter, Holdings Channel reports. The institutional investor owned 427,558 shares of the medical research company’s stock after selling 80,958 shares during the period. RadNet makes up 1.8% of Emerald Mutual Fund Advisers Trust’s investment portfolio, making the stock its 8th largest holding. Emerald Mutual Fund Advisers Trust’s holdings in RadNet were worth $29,861,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. USA Financial Formulas acquired a new position in RadNet during the 4th quarter valued at about $30,000. Fifth Third Bancorp lifted its holdings in shares of RadNet by 84.3% in the fourth quarter. Fifth Third Bancorp now owns 667 shares of the medical research company’s stock valued at $47,000 after purchasing an additional 305 shares in the last quarter. Smartleaf Asset Management LLC lifted its holdings in shares of RadNet by 377.0% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,345 shares of the medical research company’s stock valued at $96,000 after purchasing an additional 1,063 shares in the last quarter. Tower Research Capital LLC TRC boosted its position in shares of RadNet by 42.2% during the fourth quarter. Tower Research Capital LLC TRC now owns 1,422 shares of the medical research company’s stock valued at $99,000 after buying an additional 422 shares during the last quarter. Finally, Canada Pension Plan Investment Board bought a new stake in RadNet during the fourth quarter worth $105,000. 77.90% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the stock. Raymond James raised shares of RadNet from an “outperform” rating to a “strong-buy” rating and cut their price objective for the stock from $85.00 to $65.00 in a report on Wednesday, March 5th. StockNews.com upgraded shares of RadNet to a “sell” rating in a report on Wednesday, March 19th. Jefferies Financial Group decreased their price objective on shares of RadNet from $100.00 to $80.00 and set a “buy” rating for the company in a research note on Wednesday, January 15th. Barclays cut their target price on RadNet from $74.00 to $60.00 and set an “overweight” rating on the stock in a research note on Monday, March 24th. Finally, Truist Financial decreased their price target on RadNet from $88.00 to $74.00 and set a “buy” rating for the company in a research report on Friday, April 11th. One investment analyst has rated the stock with a sell rating, three have issued a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, RadNet presently has an average rating of “Buy” and a consensus target price of $69.75.

Insider Buying and Selling

In related news, COO Norman R. Hames sold 5,000 shares of the firm’s stock in a transaction that occurred on Monday, March 17th. The shares were sold at an average price of $49.79, for a total value of $248,950.00. Following the completion of the transaction, the chief operating officer now directly owns 261,959 shares of the company’s stock, valued at approximately $13,042,938.61. This trade represents a 1.87 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Cornelis Wesdorp sold 1,000 shares of the business’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 sale, the chief executive officer now directly owns 55,995 shares in the company, valued at $2,828,867.40. The trade was a 1.75 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 38,000 shares of company stock valued at $1,926,730. 5.12% of the stock is owned by insiders.

RadNet Stock Down 0.4 %

RDNT opened at $50.26 on Monday. RadNet, Inc. has a twelve month low of $45.00 and a twelve month high of $93.65. The company’s 50-day moving average price is $51.71 and its two-hundred day moving average price is $64.42. The stock has a market cap of $3.72 billion, a price-to-earnings ratio of -717.90 and a beta of 1.59. The company has a quick ratio of 2.16, a current ratio of 2.16 and a debt-to-equity ratio of 0.89.

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. The business had revenue of $477.10 million for the quarter, compared to the consensus estimate of $459.42 million. RadNet had a positive return on equity of 4.29% and a negative net margin of 0.25%. As a group, equities analysts expect that RadNet, Inc. will post 0.56 earnings per share for the current year.

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.