E. Ohman J or Asset Management AB Has $2.16 Million Stock Holdings in RadNet, Inc. (NASDAQ:RDNT)

E. Ohman J or Asset Management AB trimmed its stake in shares of RadNet, Inc. (NASDAQ:RDNT) by 28.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 30,958 shares of the medical research company’s stock after selling 12,600 shares during the quarter. E. Ohman J or Asset Management AB’s holdings in RadNet were worth $2,162,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also added to or reduced their stakes in the stock. Covestor Ltd lifted its position in shares of RadNet by 10,875.0% in the 3rd quarter. Covestor Ltd now owns 439 shares of the medical research company’s stock worth $30,000 after purchasing an additional 435 shares during the period. USA Financial Formulas bought a new position in RadNet during the fourth quarter worth $30,000. Fifth Third Bancorp lifted its holdings in RadNet by 84.3% in the fourth quarter. Fifth Third Bancorp now owns 667 shares of the medical research company’s stock valued at $47,000 after buying an additional 305 shares during the period. Highline Wealth Partners LLC bought a new stake in RadNet during the third quarter valued at $68,000. Finally, Peterson Financial Group Inc. acquired a new stake in RadNet during the 3rd quarter worth about $90,000. 77.90% of the stock is currently owned by institutional investors.

RadNet Price Performance

Shares of NASDAQ:RDNT opened at $67.15 on Wednesday. The stock’s 50 day moving average is $71.67 and its 200-day moving average is $68.99. RadNet, Inc. has a twelve month low of $35.16 and a twelve month high of $93.65. 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 firm has a market capitalization of $4.97 billion, a price-to-earnings ratio of -959.15 and a beta of 1.79.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on RDNT shares. 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 note on Wednesday, January 22nd. Jefferies Financial Group reduced their price objective on shares of RadNet from $100.00 to $80.00 and set a “buy” rating for the company in a research report on Wednesday, January 15th. Finally, Barclays dropped their target price on shares of RadNet from $85.00 to $74.00 and set an “overweight” rating on the stock in a research report on Wednesday, January 22nd. One analyst has rated the stock with a sell rating, four have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $75.50.

Insiders Place Their Bets

In other news, EVP David Jeffrey Katz sold 12,300 shares of the company’s stock in a transaction on Monday, November 25th. The shares were sold at an average price of $81.65, for a total value of $1,004,295.00. Following the completion of the sale, the executive vice president now owns 62,909 shares in the company, valued at $5,136,519.85. This represents a 16.35 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Ranjan Jayanathan sold 38,557 shares of the firm’s stock in a transaction dated Tuesday, November 19th. The shares were sold at an average price of $80.00, for a total transaction of $3,084,560.00. Following the transaction, the insider now directly owns 192,724 shares in the company, valued at $15,417,920. The trade was a 16.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 5.12% of the company’s stock.

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.