Inspire Investing LLC Sells 189 Shares of RadNet, Inc. (NASDAQ:RDNT)

Inspire Investing LLC lowered its stake in RadNet, Inc. (NASDAQ:RDNT) by 3.2% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 5,744 shares of the medical research company’s stock after selling 189 shares during the period. Inspire Investing LLC’s holdings in RadNet were worth $401,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. Covestor Ltd lifted its position in RadNet by 10,875.0% in the 3rd quarter. Covestor Ltd now owns 439 shares of the medical research company’s stock valued at $30,000 after acquiring an additional 435 shares in the last quarter. USA Financial Formulas acquired a new stake in shares of RadNet in the 4th quarter valued at about $30,000. Highline Wealth Partners LLC bought a new stake in shares of RadNet in the third quarter valued at about $68,000. Peterson Financial Group Inc. acquired a new position in shares of RadNet during the third quarter worth about $90,000. Finally, GAMMA Investing LLC grew its holdings in shares of RadNet by 57.3% during the third quarter. GAMMA Investing LLC now owns 1,361 shares of the medical research company’s stock worth $94,000 after buying an additional 496 shares in the last quarter. Institutional investors and hedge funds own 77.90% of the company’s stock.

Insider Activity at RadNet

In other RadNet news, EVP David Jeffrey Katz sold 12,300 shares of the firm’s stock in a transaction on Monday, November 25th. The stock was sold at an average price of $81.65, for a total transaction of $1,004,295.00. Following the completion of the sale, the executive vice president now owns 62,909 shares of the company’s stock, valued at $5,136,519.85. This trade represents a 16.35 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Ranjan Jayanathan sold 38,557 shares of the company’s stock in a transaction on 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 transaction, the insider now owns 192,724 shares in the company, valued at approximately $15,417,920. This represents a 16.67 % 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 company insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on RDNT shares. Truist Financial reaffirmed a “buy” rating and set a $88.00 price target (down previously from $94.00) on shares of RadNet in a research report on Wednesday, January 22nd. Barclays reduced their target price on shares of RadNet from $85.00 to $74.00 and set an “overweight” rating for the company in a report on Wednesday, January 22nd. Jefferies Financial Group cut their price target on shares of RadNet from $100.00 to $80.00 and set a “buy” rating on the stock in a research report on Wednesday, January 15th. Finally, Sidoti upgraded RadNet to a “strong-buy” rating in a report on Friday, October 4th. One research analyst has rated the stock with a sell rating, four have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, RadNet presently has an average rating of “Moderate Buy” and a consensus target price of $75.50.

RadNet Stock Performance

Shares of RDNT opened at $64.08 on Monday. The company has a market cap of $4.74 billion, a PE ratio of -915.30 and a beta of 1.79. The firm has a 50-day moving average of $73.75 and a 200-day moving average of $68.78. RadNet, Inc. has a one year low of $35.16 and a one 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.

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.