Main Management ETF Advisors LLC Has $895,000 Stock Position in RadNet, Inc. (NASDAQ:RDNT)

Main Management ETF Advisors LLC cut its position in RadNet, Inc. (NASDAQ:RDNT) by 8.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 12,816 shares of the medical research company’s stock after selling 1,152 shares during the period. Main Management ETF Advisors LLC’s holdings in RadNet were worth $895,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Man Group plc boosted its stake in RadNet by 181.5% during the 4th quarter. Man Group plc now owns 25,881 shares of the medical research company’s stock valued at $1,808,000 after purchasing an additional 16,686 shares during the last quarter. Nuveen Asset Management LLC boosted its position in shares of RadNet by 23.3% during the fourth quarter. Nuveen Asset Management LLC now owns 640,303 shares of the medical research company’s stock valued at $44,719,000 after buying an additional 121,026 shares during the last quarter. Occudo Quantitative Strategies LP purchased a new stake in RadNet in the 4th quarter valued at $269,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in shares of RadNet by 4.0% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 37,642 shares of the medical research company’s stock valued at $2,629,000 after buying an additional 1,452 shares during the last quarter. Finally, Janus Henderson Group PLC increased its holdings in RadNet by 3.5% in the 4th quarter. Janus Henderson Group PLC now owns 31,436 shares of the medical research company’s stock worth $2,195,000 after acquiring an additional 1,049 shares during the last quarter. 77.90% of the stock is owned by institutional investors.

RadNet Stock Performance

NASDAQ RDNT opened at $60.53 on Wednesday. The company has a 50-day simple moving average of $50.85 and a two-hundred day simple moving average of $63.30. RadNet, Inc. has a 12-month low of $45.00 and a 12-month high of $93.65. The firm has a market cap of $4.54 billion, a price-to-earnings ratio of -864.59 and a beta of 1.46. The company has a quick ratio of 2.16, a current ratio of 2.16 and a debt-to-equity ratio of 0.89.

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

Insider Transactions at RadNet

In other RadNet news, COO Norman R. Hames sold 5,000 shares of the stock in a transaction on Monday, March 17th. The shares were sold at an average price of $49.79, for a total transaction of $248,950.00. Following the completion of the sale, the chief operating officer now owns 261,959 shares of the company’s stock, valued at $13,042,938.61. This represents a 1.87% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Cornelis Wesdorp sold 1,000 shares of the business’s stock in a transaction dated 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 transaction, the chief executive officer now owns 55,995 shares in the company, valued at $2,828,867.40. The trade was a 1.75% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 38,000 shares of company stock worth $1,926,730. Insiders own 5.12% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have weighed in on RDNT shares. Truist Financial cut their target price on shares of RadNet from $88.00 to $74.00 and set a “buy” rating for the company in a research report on Friday, April 11th. StockNews.com raised shares of RadNet to a “sell” rating in a report on Monday. Barclays reduced their price objective on shares of RadNet from $74.00 to $60.00 and set an “overweight” rating for the company in a research note on Monday, March 24th. Raymond James raised RadNet from an “outperform” rating to a “strong-buy” rating and dropped their price target for the stock from $85.00 to $65.00 in a research note on Wednesday, March 5th. Finally, Jefferies Financial Group reduced their price objective on RadNet from $100.00 to $80.00 and set a “buy” rating on the stock in a research report on Wednesday, January 15th. One research analyst has rated the stock with a sell rating, three have issued a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus price target of $69.75.

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.