RadNet, Inc. (NASDAQ:RDNT) Shares Sold by Connor Clark & Lunn Investment Management Ltd.

Connor Clark & Lunn Investment Management Ltd. cut its stake in shares of RadNet, Inc. (NASDAQ:RDNT) by 18.6% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 32,314 shares of the medical research company’s stock after selling 7,406 shares during the quarter. Connor Clark & Lunn Investment Management Ltd.’s holdings in RadNet were worth $2,257,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. HighTower Advisors LLC grew its position in RadNet by 11.9% during the fourth quarter. HighTower Advisors LLC now owns 8,797 shares of the medical research company’s stock worth $614,000 after buying an additional 936 shares during the period. AGF Management Ltd. grew its holdings in shares of RadNet by 59.5% in the 4th quarter. AGF Management Ltd. now owns 238,035 shares of the medical research company’s stock worth $16,624,000 after acquiring an additional 88,795 shares during the period. Moran Wealth Management LLC increased its stake in RadNet by 4.3% in the 4th quarter. Moran Wealth Management LLC now owns 10,418 shares of the medical research company’s stock valued at $728,000 after purchasing an additional 432 shares in the last quarter. AlphaQuest LLC raised its holdings in RadNet by 14,726.7% during the fourth quarter. AlphaQuest LLC now owns 2,224 shares of the medical research company’s stock worth $155,000 after purchasing an additional 2,209 shares during the last quarter. Finally, PNC Financial Services Group Inc. boosted its position in RadNet by 22.2% during the fourth quarter. PNC Financial Services Group Inc. now owns 3,187 shares of the medical research company’s stock worth $223,000 after purchasing an additional 578 shares in the last quarter. Hedge funds and other institutional investors own 77.90% of the company’s stock.

Insider Buying and Selling at RadNet

In related news, Director David L. Swartz sold 25,000 shares of the firm’s 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 sale, the director now directly owns 174,067 shares of the company’s stock, valued at approximately $8,849,566.28. This trade represents a 12.56 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Cornelis Wesdorp sold 1,000 shares of the company’s stock in a transaction that occurred on Friday, March 7th. The stock was sold at an average price of $50.52, for a total transaction of $50,520.00. Following the transaction, the chief executive officer now directly owns 55,995 shares of the company’s stock, valued at $2,828,867.40. This trade represents a 1.75 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 28,000 shares of company stock worth $1,426,680 in the last 90 days. 5.12% of the stock is owned by company insiders.

RadNet Stock Performance

Shares of RDNT opened at $48.45 on Wednesday. The company has a market capitalization of $3.59 billion, a price-to-earnings ratio of -692.04 and a beta of 1.85. The company has a debt-to-equity ratio of 0.89, a quick ratio of 2.16 and a current ratio of 2.16. RadNet, Inc. has a 1 year low of $44.08 and a 1 year high of $93.65. The company’s 50 day simple moving average is $60.05 and its 200 day simple moving average is $67.82.

RadNet (NASDAQ:RDNT) last posted 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. RadNet had a positive return on equity of 4.29% and a negative net margin of 0.25%. The business had revenue of $477.10 million for the quarter, compared to analysts’ expectations of $459.42 million. On average, sell-side analysts predict that RadNet, Inc. will post 0.56 EPS for the current year.

Analyst Ratings Changes

A number of research analysts have recently weighed in on the company. Raymond James upgraded RadNet from an “outperform” rating to a “strong-buy” rating and dropped their price target for the company from $85.00 to $65.00 in a research report on Wednesday, March 5th. StockNews.com upgraded shares of RadNet to a “sell” rating in a research report on Wednesday. Jefferies Financial Group lowered 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. Barclays cut 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. Finally, Truist Financial reiterated a “buy” rating and set a $88.00 target price (down previously from $94.00) on shares of RadNet in a report on Wednesday, January 22nd. One equities research analyst has rated the stock with a sell rating, three have given a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, RadNet currently has an average rating of “Buy” and a consensus price target of $76.75.

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.