Nisa Investment Advisors LLC Sells 3,296 Shares of RadNet, Inc. (NASDAQ:RDNT)

Nisa Investment Advisors LLC lowered its stake in RadNet, Inc. (NASDAQ:RDNT) by 76.8% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 995 shares of the medical research company’s stock after selling 3,296 shares during the period. Nisa Investment Advisors LLC’s holdings in RadNet were worth $49,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. PNC Financial Services Group Inc. boosted its holdings in RadNet by 22.2% during the 4th quarter. PNC Financial Services Group Inc. now owns 3,187 shares of the medical research company’s stock valued at $223,000 after acquiring an additional 578 shares during the period. HighTower Advisors LLC lifted its position in shares of RadNet by 11.9% during the fourth quarter. HighTower Advisors LLC now owns 8,797 shares of the medical research company’s stock worth $614,000 after purchasing an additional 936 shares during the last quarter. Swiss National Bank boosted its stake in shares of RadNet by 0.7% during the fourth quarter. Swiss National Bank now owns 123,600 shares of the medical research company’s stock valued at $8,632,000 after purchasing an additional 900 shares during the period. Commonwealth Equity Services LLC grew its holdings in shares of RadNet by 6.6% in the fourth quarter. Commonwealth Equity Services LLC now owns 7,728 shares of the medical research company’s stock worth $540,000 after purchasing an additional 479 shares during the last quarter. Finally, Natixis Advisors LLC increased its stake in RadNet by 8.9% in the 4th quarter. Natixis Advisors LLC now owns 24,539 shares of the medical research company’s stock worth $1,714,000 after buying an additional 2,009 shares during the period. 77.90% of the stock is owned by institutional investors.

RadNet Stock Down 2.3%

Shares of NASDAQ RDNT opened at $57.49 on Friday. RadNet, Inc. has a 12-month low of $45.00 and a 12-month high of $93.65. The stock’s fifty day simple moving average is $57.29 and its two-hundred day simple moving average is $57.05. The stock has a market capitalization of $4.31 billion, a PE ratio of -133.69 and a beta of 1.41. The company has a current ratio of 2.01, a quick ratio of 2.01 and a debt-to-equity ratio of 0.87.

Analyst Ratings Changes

A number of equities analysts have recently commented on RDNT shares. Wall Street Zen lowered shares of RadNet from a “hold” rating to a “sell” rating in a research report on Sunday, June 29th. Truist Financial set a $74.00 target price on RadNet in a report on Thursday, July 10th. Barclays dropped their price target on RadNet from $74.00 to $60.00 and set an “overweight” rating on the stock in a research report on Monday, March 24th. Finally, B. Riley began coverage on RadNet in a report on Friday, June 13th. They issued a “buy” rating and a $69.00 price objective for the company. One analyst has rated the stock with a sell rating, three have issued a buy rating and three have issued a strong buy rating to the company. According to MarketBeat.com, RadNet has a consensus rating of “Buy” and a consensus target price of $69.60.

Insider Activity

In related news, COO Norman R. Hames sold 5,536 shares of the stock in a transaction that occurred on Thursday, May 15th. The shares were sold at an average price of $60.00, for a total transaction of $332,160.00. Following the completion of the sale, the chief operating officer owned 249,183 shares of the company’s stock, valued at $14,950,980. This represents a 2.17% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Alma Gregory Sorensen sold 55,000 shares of the firm’s stock in a transaction that occurred on Friday, May 23rd. The shares were 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 owned 1,160,509 shares of the company’s stock, valued at approximately $65,545,548.32. This trade represents a 4.52% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 63,447 shares of company stock worth $3,613,220 in the last quarter. 5.60% of the stock is owned by insiders.

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.