Freedom Investment Management Inc. Sells 1,574 Shares of RadNet, Inc. (NASDAQ:RDNT)

Freedom Investment Management Inc. cut its position in RadNet, Inc. (NASDAQ:RDNT) by 29.6% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 3,735 shares of the medical research company’s stock after selling 1,574 shares during the period. Freedom Investment Management Inc.’s holdings in RadNet were worth $261,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of RDNT. Norges Bank bought a new stake in RadNet during the fourth quarter valued at about $56,381,000. Raymond James Financial Inc. purchased a new position in RadNet in the 4th quarter worth approximately $33,090,000. Allspring Global Investments Holdings LLC boosted its stake in RadNet by 30.4% in 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 period. Clearbridge Investments LLC grew its holdings in RadNet by 28.3% during the 4th quarter. Clearbridge Investments LLC now owns 942,082 shares of the medical research company’s stock valued at $65,795,000 after buying an additional 207,582 shares in the last quarter. Finally, JPMorgan Chase & Co. grew its holdings in RadNet by 154.8% during the 4th quarter. JPMorgan Chase & Co. now owns 338,843 shares of the medical research company’s stock valued at $23,665,000 after buying an additional 205,846 shares in the last quarter. 77.90% of the stock is currently owned by institutional investors.

RadNet Stock Up 1.7 %

Shares of RadNet stock opened at $48.18 on Wednesday. RadNet, Inc. has a 1 year low of $45.00 and a 1 year high of $93.65. 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 cap of $3.57 billion, a price-to-earnings ratio of -688.19 and a beta of 1.59. The firm’s 50-day moving average is $52.40 and its two-hundred day moving average is $64.77.

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, beating the consensus estimate of $0.21 by $0.01. The company had revenue of $477.10 million for the quarter, compared to analyst estimates of $459.42 million. RadNet had a negative net margin of 0.25% and a positive return on equity of 4.29%. As a group, research analysts expect that RadNet, Inc. will post 0.56 earnings per share for the current fiscal year.

Insider Transactions at RadNet

In other news, CEO Cornelis Wesdorp sold 2,000 shares of RadNet stock in a transaction that occurred on Wednesday, March 5th. The shares were sold at an average price of $52.58, for a total value of $105,160.00. Following the transaction, the chief executive officer now owns 58,995 shares of the company’s stock, valued at $3,101,957.10. The trade was a 3.28 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, COO Norman R. Hames sold 5,000 shares of the business’s stock in a transaction that occurred on Wednesday, March 19th. The stock was sold at an average price of $50.22, for a total transaction of $251,100.00. Following the transaction, the chief operating officer now owns 251,959 shares of the company’s stock, valued at approximately $12,653,380.98. This trade represents a 1.95 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 38,000 shares of company stock valued at $1,926,730. Corporate insiders own 5.12% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently weighed in on the stock. Truist Financial cut their target price on shares of RadNet from $88.00 to $74.00 and set a “buy” rating for the company in a research note on Friday, April 11th. Barclays lowered their target price on 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. Jefferies Financial Group reduced their target price 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. Finally, Raymond James raised shares of RadNet from an “outperform” rating to a “strong-buy” rating and lowered their price target for the company from $85.00 to $65.00 in a report on Wednesday, March 5th. 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 company’s stock. According to MarketBeat.com, RadNet presently has an average rating of “Buy” and a consensus target price of $69.75.

About RadNet

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.