Everence Capital Management Inc. Sells 7,360 Shares of RadNet, Inc. (NASDAQ:RDNT)

Everence Capital Management Inc. lessened its position in RadNet, Inc. (NASDAQ:RDNT) by 65.0% during the 4th quarter, HoldingsChannel.com reports. The fund owned 3,960 shares of the medical research company’s stock after selling 7,360 shares during the period. Everence Capital Management Inc.’s holdings in RadNet were worth $277,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently bought and sold shares of the company. State Street Corp increased its stake in shares of RadNet by 1.3% in the third quarter. State Street Corp now owns 2,446,179 shares of the medical research company’s stock worth $169,740,000 after purchasing an additional 30,244 shares during the period. Geode Capital Management LLC increased its position in RadNet by 0.8% in the 3rd quarter. Geode Capital Management LLC now owns 1,555,214 shares of the medical research company’s stock worth $107,936,000 after buying an additional 11,613 shares during the period. Principal Financial Group Inc. lifted its holdings in shares of RadNet by 8.5% during the third quarter. Principal Financial Group Inc. now owns 1,506,545 shares of the medical research company’s stock worth $104,539,000 after buying an additional 118,501 shares during the last quarter. JB Capital Partners LP boosted its position in shares of RadNet by 15.9% in the third quarter. JB Capital Partners LP now owns 1,504,061 shares of the medical research company’s stock valued at $104,367,000 after acquiring an additional 206,850 shares during the period. Finally, Allspring Global Investments Holdings LLC grew its stake in shares of RadNet by 11.8% in the third quarter. Allspring Global Investments Holdings LLC now owns 1,131,849 shares of the medical research company’s stock worth $78,539,000 after acquiring an additional 119,875 shares during the last quarter. Institutional investors and hedge funds own 77.90% of the company’s stock.

RadNet Stock Performance

NASDAQ RDNT opened at $72.43 on Wednesday. The stock has a market cap of $5.36 billion, a P/E ratio of -1,034.57 and a beta of 1.79. The company has a quick ratio of 2.16, a current ratio of 2.16 and a debt-to-equity ratio of 0.89. RadNet, Inc. has a twelve month low of $34.90 and a twelve month high of $93.65. The company’s 50-day simple moving average is $76.07 and its 200 day simple moving average is $68.12.

Wall Street Analyst Weigh In

RDNT has been the subject of several research analyst reports. Jefferies Financial Group upped their target price on shares of RadNet from $82.00 to $100.00 and gave the company a “buy” rating in a research note on Thursday, December 5th. Barclays increased their target price on shares of RadNet from $79.00 to $85.00 and gave the company an “overweight” rating in a research note on Wednesday, December 4th. Sidoti upgraded RadNet to a “strong-buy” rating in a research note on Friday, October 4th. Finally, Truist Financial raised their price objective on RadNet from $80.00 to $94.00 and gave the stock a “buy” rating in a research report on Friday, November 29th. One equities research analyst has rated the stock with a sell rating, four have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $84.75.

Insider Transactions at RadNet

In related news, insider Ranjan Jayanathan sold 38,557 shares of the stock in a transaction dated Tuesday, November 19th. The shares were sold at an average price of $80.00, for a total transaction of $3,084,560.00. Following the completion of the sale, the insider now owns 192,724 shares in the company, valued at $15,417,920. This trade represents a 16.67 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP David Jeffrey Katz sold 12,300 shares of the business’s stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $81.65, for a total transaction of $1,004,295.00. Following the completion of the transaction, the executive vice president now owns 62,909 shares in the company, valued at approximately $5,136,519.85. This trade represents a 16.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 5.12% of the stock is currently 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.