RadNet, Inc. (NASDAQ:RDNT) Shares Sold by Connor Clark & Lunn Investment Management Ltd.

Connor Clark & Lunn Investment Management Ltd. reduced its stake in RadNet, Inc. (NASDAQ:RDNT) by 18.6% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 32,314 shares of the medical research company’s stock after selling 7,406 shares during the period. Connor Clark & Lunn Investment Management Ltd.’s holdings in RadNet were worth $2,257,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of RDNT. HighTower Advisors LLC raised its holdings in RadNet by 11.9% in the fourth quarter. HighTower Advisors LLC now owns 8,797 shares of the medical research company’s stock valued at $614,000 after acquiring an additional 936 shares in the last quarter. AGF Management Ltd. raised its holdings in shares of RadNet by 59.5% in the 4th quarter. AGF Management Ltd. now owns 238,035 shares of the medical research company’s stock valued at $16,624,000 after purchasing an additional 88,795 shares in the last quarter. Moran Wealth Management LLC lifted its position in shares of RadNet by 4.3% during the 4th quarter. Moran Wealth Management LLC now owns 10,418 shares of the medical research company’s stock worth $728,000 after purchasing an additional 432 shares during the last quarter. AlphaQuest LLC grew its stake in shares of RadNet by 14,726.7% during the fourth quarter. AlphaQuest LLC now owns 2,224 shares of the medical research company’s stock worth $155,000 after purchasing an additional 2,209 shares in the last quarter. Finally, PNC Financial Services Group Inc. increased its holdings in RadNet by 22.2% in the fourth quarter. PNC Financial Services Group Inc. now owns 3,187 shares of the medical research company’s stock valued at $223,000 after buying an additional 578 shares during the last quarter. 77.90% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

RDNT has been the subject of a number of recent analyst reports. StockNews.com raised RadNet to a “sell” rating in a report on Wednesday. Jefferies Financial Group decreased their target price on RadNet from $100.00 to $80.00 and set a “buy” rating for the company in a research note on Wednesday, January 15th. Raymond James upgraded shares of RadNet from an “outperform” rating to a “strong-buy” rating and dropped their price target for the company from $85.00 to $65.00 in a research note on Wednesday, March 5th. Truist Financial restated a “buy” rating and set a $88.00 price objective (down previously from $94.00) on shares of RadNet in a research report on Wednesday, January 22nd. Finally, Barclays dropped their target price on shares of RadNet from $85.00 to $74.00 and set an “overweight” rating on the stock in a research report on Wednesday, January 22nd. One analyst has rated the stock with a sell rating, three have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, RadNet presently has a consensus rating of “Buy” and an average target price of $76.75.

Insider Activity at RadNet

In related news, Director David L. Swartz sold 25,000 shares of RadNet stock in a transaction on Friday, March 7th. The shares were sold at an average price of $50.84, for a total value of $1,271,000.00. Following the transaction, the director now directly owns 174,067 shares in the company, valued at $8,849,566.28. This trade represents a 12.56 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Cornelis Wesdorp sold 2,000 shares of the business’s stock in a transaction on Wednesday, March 5th. The shares were sold at an average price of $52.58, for a total transaction of $105,160.00. Following the completion of the transaction, the chief executive officer now directly owns 58,995 shares in the company, valued at $3,101,957.10. This represents a 3.28 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 28,000 shares of company stock worth $1,426,680 in the last quarter. Company insiders own 5.12% of the company’s stock.

RadNet Stock Performance

Shares of RDNT opened at $48.45 on Wednesday. The company’s 50 day simple moving average is $60.05 and its 200-day simple moving average is $67.82. RadNet, Inc. has a 12-month low of $44.08 and a 12-month high of $93.65. The firm has a market cap of $3.59 billion, a PE ratio of -692.04 and a beta of 1.85. The company has a current ratio of 2.16, a quick ratio of 2.16 and a debt-to-equity ratio of 0.89.

RadNet (NASDAQ:RDNT) last issued its quarterly earnings data on Thursday, February 27th. The medical research company reported $0.22 earnings per share (EPS) for the quarter, topping 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 company had revenue of $477.10 million for the quarter, compared to the consensus estimate of $459.42 million. As a group, equities analysts predict that RadNet, Inc. will post 0.56 EPS 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.