State of Tennessee Department of Treasury Has $1.85 Million Stock Holdings in RadNet, Inc. (NASDAQ:RDNT)

State of Tennessee Department of Treasury lowered its position in shares of RadNet, Inc. (NASDAQ:RDNT) by 8.0% in the fourth quarter, HoldingsChannel reports. The fund owned 26,551 shares of the medical research company’s stock after selling 2,324 shares during the period. State of Tennessee Department of Treasury’s holdings in RadNet were worth $1,854,000 as of its most recent SEC filing.

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

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on RDNT shares. Truist Financial lowered their price target on RadNet from $88.00 to $74.00 and set a “buy” rating on the stock in a research report on Friday, April 11th. Jefferies Financial Group lowered 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. Barclays cut their price target on shares of RadNet from $74.00 to $60.00 and set an “overweight” rating for the company in a research note on Monday, March 24th. StockNews.com upgraded shares of RadNet to a “sell” rating in a research note on Wednesday, March 19th. Finally, Raymond James upgraded shares of RadNet from an “outperform” rating to a “strong-buy” rating and cut their target price for the company from $85.00 to $65.00 in a research note on Wednesday, March 5th. One research 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. According to data from MarketBeat.com, RadNet currently has an average rating of “Buy” and an average price target of $69.75.

Insider Buying and Selling

In other news, COO Norman R. Hames sold 5,000 shares of RadNet stock in a transaction on Monday, March 17th. The stock was sold at an average price of $49.79, for a total transaction of $248,950.00. Following the completion of the sale, the chief operating officer now 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 ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Cornelis Wesdorp sold 1,000 shares of the business’s stock in a transaction dated Friday, March 7th. The shares were sold at an average price of $50.52, for a total transaction of $50,520.00. Following the completion of the sale, the chief executive officer now directly owns 55,995 shares of the company’s stock, valued at approximately $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 ninety days, insiders sold 38,000 shares of company stock valued at $1,926,730. Insiders own 5.12% of the company’s stock.

RadNet Price Performance

Shares of RDNT opened at $52.07 on Wednesday. The company’s 50-day moving average is $51.23 and its 200-day moving average is $64.21. 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 firm has a market capitalization of $3.86 billion, a PE ratio of -743.75 and a beta of 1.59. RadNet, Inc. has a fifty-two week low of $45.00 and a fifty-two week high of $93.65.

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 firm had revenue of $477.10 million during the quarter, compared to the consensus estimate of $459.42 million. Equities analysts forecast that RadNet, Inc. will post 0.56 EPS for the current year.

RadNet 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.