Whittier Trust Co. Purchases 8,862 Shares of RadNet, Inc. (NASDAQ:RDNT)

Whittier Trust Co. increased its position in RadNet, Inc. (NASDAQ:RDNT) by 4.5% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 206,783 shares of the medical research company’s stock after purchasing an additional 8,862 shares during the quarter. Whittier Trust Co. owned approximately 0.28% of RadNet worth $14,442,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Raymond James Financial Inc. bought a new stake in RadNet during the 4th quarter valued at $33,090,000. Portolan Capital Management LLC boosted its position in RadNet by 384.8% during the 3rd quarter. Portolan Capital Management LLC now owns 491,358 shares of the medical research company’s stock valued at $34,095,000 after acquiring an additional 390,011 shares in the last quarter. Allspring Global Investments Holdings LLC boosted its position in RadNet by 30.4% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 1,475,995 shares of the medical research company’s stock valued at $103,532,000 after acquiring an additional 344,146 shares in the last quarter. Cerity Partners LLC boosted its position in RadNet by 131.4% during the 3rd quarter. Cerity Partners LLC now owns 387,536 shares of the medical research company’s stock valued at $26,891,000 after acquiring an additional 220,068 shares in the last quarter. Finally, JB Capital Partners LP boosted its position in RadNet by 15.9% during the 3rd 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 in the last quarter. Institutional investors own 77.90% of the company’s stock.

Analyst Ratings Changes

RDNT has been the topic of several recent research reports. Truist Financial reaffirmed a “buy” rating and set a $88.00 target price (down previously from $94.00) on shares of RadNet in a research report on Wednesday, January 22nd. Raymond James raised RadNet from an “outperform” rating to a “strong-buy” rating and lowered their price objective for the stock from $85.00 to $65.00 in a research report on Wednesday, March 5th. Barclays lowered their price objective on RadNet from $85.00 to $74.00 and set an “overweight” rating for the company in a research report on Wednesday, January 22nd. StockNews.com raised RadNet to a “sell” rating in a research report on Wednesday. Finally, Jefferies Financial Group lowered their price objective on RadNet from $100.00 to $80.00 and set a “buy” rating for the company in a research report on Wednesday, January 15th. One research analyst has rated the stock with a sell rating, three have assigned a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, RadNet has an average rating of “Buy” and a consensus target price of $76.75.

Insider Buying and Selling at RadNet

In other RadNet news, COO Norman R. Hames sold 5,000 shares of RadNet stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $49.79, for a total transaction of $248,950.00. Following the completion of the transaction, the chief operating officer now owns 261,959 shares in the company, valued at approximately $13,042,938.61. This trade represents a 1.87 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director David L. Swartz sold 25,000 shares of RadNet stock in a transaction dated 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 transaction, the director now owns 174,067 shares of the company’s stock, valued at $8,849,566.28. The trade was a 12.56 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 38,000 shares of company stock worth $1,926,730. Insiders own 5.12% of the company’s stock.

RadNet Stock Performance

Shares of RDNT stock opened at $50.71 on Thursday. The firm has a market capitalization of $3.75 billion, a price-to-earnings ratio of -724.33 and a beta of 1.85. The company has a debt-to-equity ratio of 0.89, a current ratio of 2.16 and a quick ratio of 2.16. The business has a fifty day moving average of $59.62 and a 200 day moving average of $67.70. RadNet, Inc. has a 1 year low of $45.16 and a 1 year high of $93.65.

RadNet (NASDAQ:RDNT) last issued its earnings results on Thursday, February 27th. The medical research company reported $0.22 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.21 by $0.01. The company had revenue of $477.10 million during the quarter, compared to analyst estimates of $459.42 million. RadNet had a positive return on equity of 4.29% and a negative net margin of 0.25%. As a group, research analysts expect that RadNet, Inc. will post 0.56 earnings per share for the current year.

RadNet 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.