Segall Bryant & Hamill LLC Decreases Stock Position in RadNet, Inc. (NASDAQ:RDNT)

Segall Bryant & Hamill LLC decreased its holdings in shares of RadNet, Inc. (NASDAQ:RDNT) by 1.3% during the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 206,803 shares of the medical research company’s stock after selling 2,779 shares during the period. Segall Bryant & Hamill LLC owned approximately 0.28% of RadNet worth $14,443,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of RDNT. Natixis Advisors LLC grew its position in RadNet by 11.4% during the 3rd quarter. Natixis Advisors LLC now owns 22,530 shares of the medical research company’s stock worth $1,563,000 after purchasing an additional 2,305 shares during the last quarter. Pathstone Holdings LLC lifted its stake in shares of RadNet by 58.5% during the third quarter. Pathstone Holdings LLC now owns 27,503 shares of the medical research company’s stock worth $1,908,000 after buying an additional 10,151 shares during the period. Intech Investment Management LLC grew its holdings in shares of RadNet by 178.3% during the third quarter. Intech Investment Management LLC now owns 21,078 shares of the medical research company’s stock valued at $1,463,000 after buying an additional 13,505 shares during the last quarter. Citigroup Inc. increased its position in shares of RadNet by 23.0% in the 3rd quarter. Citigroup Inc. now owns 174,878 shares of the medical research company’s stock valued at $12,135,000 after acquiring an additional 32,673 shares during the period. Finally, Harvest Fund Management Co. Ltd raised its stake in RadNet by 112.0% in the 3rd quarter. Harvest Fund Management Co. Ltd now owns 13,495 shares of the medical research company’s stock worth $936,000 after acquiring an additional 7,128 shares during the last quarter. Hedge funds and other institutional investors own 77.90% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on RDNT. Truist Financial reiterated a “buy” rating and set a $88.00 price target (down previously from $94.00) on shares of RadNet in a research note on Wednesday, January 22nd. Barclays cut their price target on shares of RadNet from $74.00 to $60.00 and set an “overweight” rating on the stock in a report on Monday. Jefferies Financial Group decreased their price objective on shares of RadNet from $100.00 to $80.00 and set a “buy” rating for the company in a research note on Wednesday, January 15th. StockNews.com upgraded shares of RadNet to a “sell” rating in a research note on Wednesday, March 19th. Finally, Raymond James upgraded shares of RadNet from an “outperform” rating to a “strong-buy” rating and decreased their target price for the company from $85.00 to $65.00 in a research report on Wednesday, March 5th. One investment analyst has rated the stock with a sell rating, three have assigned a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of “Buy” and a consensus target price of $73.25.

RadNet Price Performance

Shares of NASDAQ RDNT opened at $50.70 on Wednesday. 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 stock has a market capitalization of $3.75 billion, a price-to-earnings ratio of -724.18 and a beta of 1.85. The firm’s 50 day simple moving average is $58.18 and its 200-day simple moving average is $67.36. RadNet, Inc. has a 12 month low of $45.82 and a 12 month high of $93.65.

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

Insiders Place Their Bets

In other news, COO Norman R. Hames sold 5,000 shares of the stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $49.79, for a total value of $248,950.00. Following the completion of the sale, the chief operating officer now directly owns 261,959 shares in the company, valued at $13,042,938.61. This represents a 1.87 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director David L. Swartz sold 25,000 shares of the business’s stock in a transaction dated Friday, March 7th. The stock was sold at an average price of $50.84, for a total transaction of $1,271,000.00. Following the transaction, the director now owns 174,067 shares in the company, valued at $8,849,566.28. The trade was a 12.56 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 38,000 shares of company stock worth $1,926,730. Company insiders own 5.12% of the company’s stock.

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.