RadNet, Inc. (NASDAQ:RDNT) Shares Sold by Yousif Capital Management LLC

Yousif Capital Management LLC cut its holdings in RadNet, Inc. (NASDAQ:RDNT) by 2.9% during the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 24,431 shares of the medical research company’s stock after selling 740 shares during the period. Yousif Capital Management LLC’s holdings in RadNet were worth $1,215,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of RDNT. Smartleaf Asset Management LLC raised its stake 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 acquiring an additional 1,063 shares in the last quarter. Tower Research Capital LLC TRC raised its position in RadNet by 42.2% in the 4th quarter. Tower Research Capital LLC TRC now owns 1,422 shares of the medical research company’s stock valued at $99,000 after purchasing an additional 422 shares in the last quarter. Canada Pension Plan Investment Board acquired a new stake in RadNet in the 4th quarter valued at about $105,000. Twin Tree Management LP acquired a new stake in RadNet in the fourth quarter valued at approximately $106,000. Finally, IFP Advisors Inc raised its holdings in RadNet by 39.1% in the fourth quarter. IFP Advisors Inc now owns 1,697 shares of the medical research company’s stock valued at $119,000 after acquiring an additional 477 shares in the last quarter. Institutional investors and hedge funds own 77.90% of the company’s stock.

RadNet Stock Down 1.5%

Shares of NASDAQ RDNT opened at $56.56 on Wednesday. The company has a debt-to-equity ratio of 0.87, a quick ratio of 2.01 and a current ratio of 2.01. The stock’s 50-day simple moving average is $55.24 and its 200-day simple moving average is $60.07. The firm has a market cap of $4.24 billion, a price-to-earnings ratio of -131.53 and a beta of 1.43. RadNet, Inc. has a 1 year low of $45.00 and a 1 year high of $93.65.

Insider Activity

In other RadNet news, EVP Alma Gregory Sorensen sold 55,000 shares of the firm’s stock in a transaction dated Friday, May 23rd. The stock was sold at an average price of $56.48, for a total transaction of $3,106,400.00. Following the completion of the sale, the executive vice president now directly owns 1,160,509 shares in the company, valued at approximately $65,545,548.32. This trade represents a 4.52% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, COO Norman R. Hames sold 2,911 shares of RadNet stock in a transaction on Thursday, May 15th. The shares were sold at an average price of $60.00, for a total value of $174,660.00. Following the sale, the chief operating officer now directly owns 24,889 shares of the company’s stock, valued at approximately $1,493,340. The trade was a 10.47% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 63,447 shares of company stock valued at $3,613,220. 5.60% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of research firms have weighed in on RDNT. Wall Street Zen cut RadNet from a “hold” rating to a “sell” rating in a research note on Thursday, May 22nd. B. Riley started coverage on RadNet in a research report on Friday, June 13th. They set a “buy” rating and a $69.00 target price on the stock. Raymond James Financial 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. Barclays cut their price objective on shares of RadNet from $74.00 to $60.00 and set an “overweight” rating on the stock in a report on Monday, March 24th. Finally, Truist Financial cut their price target on shares of RadNet from $88.00 to $74.00 and set a “buy” rating on the stock in a research note on Friday, April 11th. One equities research analyst has rated the stock with a sell rating, three have assigned a buy rating and three have given a strong buy rating to the company. According to data from MarketBeat.com, RadNet currently has an average rating of “Buy” and an average target price of $69.60.

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.