Allspring Global Investments Holdings LLC Boosts Stake in RadNet, Inc. (NASDAQ:RDNT)

Allspring Global Investments Holdings LLC raised its stake in shares of RadNet, Inc. (NASDAQ:RDNT) by 30.4% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 1,475,995 shares of the medical research company’s stock after buying an additional 344,146 shares during the period. Allspring Global Investments Holdings LLC’s holdings in RadNet were worth $103,532,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Lisanti Capital Growth LLC acquired a new stake in shares of RadNet during the third quarter valued at $2,922,000. Franklin Resources Inc. raised its stake in RadNet by 12.0% in the 3rd quarter. Franklin Resources Inc. now owns 387,061 shares of the medical research company’s stock valued at $27,334,000 after purchasing an additional 41,381 shares during the last quarter. KBC Group NV lifted its holdings in RadNet by 47.6% in the 4th quarter. KBC Group NV now owns 2,678 shares of the medical research company’s stock valued at $187,000 after purchasing an additional 864 shares in the last quarter. Pathstone Holdings LLC boosted its stake in shares of RadNet by 58.5% during the 3rd quarter. Pathstone Holdings LLC now owns 27,503 shares of the medical research company’s stock worth $1,908,000 after purchasing an additional 10,151 shares during the last quarter. Finally, JPMorgan Chase & Co. grew its holdings in shares of RadNet by 1.4% during the third quarter. JPMorgan Chase & Co. now owns 132,997 shares of the medical research company’s stock worth $9,229,000 after buying an additional 1,838 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, EVP David Jeffrey Katz sold 12,300 shares of the firm’s stock in a transaction that occurred 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 transaction, the executive vice president now owns 62,909 shares in the company, valued at approximately $5,136,519.85. This trade represents a 16.35 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Ranjan Jayanathan sold 38,557 shares of RadNet stock in a transaction that occurred on 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 approximately $15,417,920. This trade represents a 16.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 5.12% of the stock is owned by company insiders.

RadNet Price Performance

RadNet stock opened at $62.05 on Thursday. RadNet, Inc. has a 1 year low of $36.47 and a 1 year high of $93.65. The company has a debt-to-equity ratio of 0.89, a quick ratio of 2.16 and a current ratio of 2.16. The firm has a 50 day moving average price of $69.84 and a 200 day moving average price of $69.02. The company has a market cap of $4.59 billion, a price-to-earnings ratio of -886.30 and a beta of 1.79.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on RDNT shares. Truist Financial reissued a “buy” rating and set a $88.00 price objective (down previously from $94.00) on shares of RadNet in a research note on Wednesday, January 22nd. Barclays cut their price target on RadNet from $85.00 to $74.00 and set an “overweight” rating for the company in a report on Wednesday, January 22nd. Finally, Jefferies Financial Group decreased their price objective on RadNet from $100.00 to $80.00 and set a “buy” rating on the stock in a report on Wednesday, January 15th. One equities research analyst has rated the stock with a sell rating, four have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, RadNet presently has a consensus rating of “Moderate Buy” and a consensus price target of $75.50.

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.