Knights of Columbus Asset Advisors LLC Has $2.48 Million Stock Position in RadNet, Inc. (NASDAQ:RDNT)

Knights of Columbus Asset Advisors LLC lowered its stake in RadNet, Inc. (NASDAQ:RDNT) by 21.3% during the fourth quarter, HoldingsChannel.com reports. The firm owned 35,472 shares of the medical research company’s stock after selling 9,587 shares during the period. Knights of Columbus Asset Advisors LLC’s holdings in RadNet were worth $2,477,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in the stock. HighTower Advisors LLC lifted its stake in shares of RadNet by 1.8% in the 3rd quarter. HighTower Advisors LLC now owns 7,861 shares of the medical research company’s stock valued at $545,000 after purchasing an additional 136 shares during the period. Highland Capital Management LLC lifted its stake in shares of RadNet by 6.5% in the 4th quarter. Highland Capital Management LLC now owns 3,307 shares of the medical research company’s stock valued at $231,000 after purchasing an additional 202 shares during the period. Virtue Capital Management LLC lifted its stake in shares of RadNet by 1.4% in the 3rd quarter. Virtue Capital Management LLC now owns 19,389 shares of the medical research company’s stock valued at $1,345,000 after purchasing an additional 264 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd lifted its stake in shares of RadNet by 4.3% in the 4th quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 7,389 shares of the medical research company’s stock valued at $516,000 after purchasing an additional 302 shares during the period. Finally, Fifth Third Bancorp lifted its stake in shares of RadNet by 84.3% in the 4th quarter. Fifth Third Bancorp now owns 667 shares of the medical research company’s stock valued at $47,000 after purchasing an additional 305 shares during the period. Institutional investors and hedge funds own 77.90% of the company’s stock.

RadNet Trading Down 0.9 %

Shares of RDNT stock opened at $49.25 on Friday. The firm has a 50 day moving average price of $58.78 and a two-hundred day moving average price of $67.49. The company has a quick ratio of 2.16, a current ratio of 2.16 and a debt-to-equity ratio of 0.89. The company has a market capitalization of $3.65 billion, a PE ratio of -703.47 and a beta of 1.85. RadNet, Inc. has a 12-month low of $45.82 and a 12-month 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. The firm had revenue of $477.10 million during the quarter, compared to the consensus estimate of $459.42 million. RadNet had a negative net margin of 0.25% and a positive return on equity of 4.29%. As a group, analysts predict that RadNet, Inc. will post 0.56 earnings per share for the current year.

Insiders Place Their Bets

In other news, Director David L. Swartz sold 25,000 shares of RadNet stock in a transaction that occurred on Friday, March 7th. The shares were sold at an average price of $50.84, for a total value of $1,271,000.00. Following the completion of the sale, the director now directly owns 174,067 shares in the company, valued at approximately $8,849,566.28. The trade was a 12.56 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Cornelis Wesdorp sold 1,000 shares of RadNet stock in a transaction that occurred on 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 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 ownership of the stock. The disclosure for this sale can be found here. Insiders sold 38,000 shares of company stock worth $1,926,730 over the last three months. Insiders own 5.12% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently commented on the company. Barclays dropped their price objective on RadNet from $85.00 to $74.00 and set an “overweight” rating on the stock in a research note on Wednesday, January 22nd. Truist Financial reaffirmed a “buy” rating and set a $88.00 price objective (down previously from $94.00) on shares of RadNet in a research note on Wednesday, January 22nd. Raymond James raised RadNet from an “outperform” rating to a “strong-buy” rating and dropped their price objective for the stock from $85.00 to $65.00 in a research note on Wednesday, March 5th. StockNews.com raised RadNet to a “sell” rating in a research note on Wednesday. Finally, Jefferies Financial Group dropped their price objective on RadNet from $100.00 to $80.00 and set a “buy” rating on the stock in a research note on Wednesday, January 15th. One investment analyst has rated the stock with a sell rating, three have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat, RadNet currently has a consensus rating of “Buy” and a consensus price target of $76.75.

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.