Legato Capital Management LLC Has $701,000 Position in RadNet, Inc. (NASDAQ:RDNT)

Legato Capital Management LLC lifted its stake in RadNet, Inc. (NASDAQ:RDNT) by 40.1% in the fourth quarter, HoldingsChannel.com reports. The firm owned 10,035 shares of the medical research company’s stock after purchasing an additional 2,870 shares during the quarter. Legato Capital Management LLC’s holdings in RadNet were worth $701,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of RDNT. Covestor Ltd grew its holdings in RadNet by 10,875.0% during the 3rd quarter. Covestor Ltd now owns 439 shares of the medical research company’s stock worth $30,000 after acquiring an additional 435 shares during the period. USA Financial Formulas acquired a new stake in RadNet during the 4th quarter worth $30,000. Fifth Third Bancorp grew its holdings in RadNet by 84.3% during the 4th quarter. Fifth Third Bancorp now owns 667 shares of the medical research company’s stock worth $47,000 after acquiring an additional 305 shares during the period. Highline Wealth Partners LLC acquired a new stake in RadNet during the 3rd quarter worth $68,000. Finally, Peterson Financial Group Inc. acquired a new stake in RadNet during the 3rd quarter worth $90,000. Institutional investors and hedge funds own 77.90% of the company’s stock.

Analyst Upgrades and Downgrades

RDNT has been the subject of a number of analyst reports. Truist Financial reaffirmed 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. Jefferies Financial Group lowered their target price on shares of RadNet from $100.00 to $80.00 and set a “buy” rating for the company in a report on Wednesday, January 15th. Finally, Barclays lowered their target price on shares of RadNet from $85.00 to $74.00 and set an “overweight” rating for the company in a report on Wednesday, January 22nd. One investment analyst has rated the stock with a sell rating, four have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $75.50.

Insider Transactions at RadNet

In related news, EVP David Jeffrey Katz sold 12,300 shares of the business’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 sale, the executive vice president now directly owns 62,909 shares of the company’s stock, valued at approximately $5,136,519.85. The trade was a 16.35 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Ranjan Jayanathan sold 38,557 shares of the business’s stock in a transaction 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 completion of the sale, the insider now directly owns 192,724 shares in the company, valued at $15,417,920. This represents a 16.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 5.12% of the company’s stock.

RadNet Trading Up 0.8 %

Shares of NASDAQ RDNT opened at $62.52 on Friday. The company’s fifty day moving average is $69.46 and its 200-day moving average is $68.97. The stock has a market cap of $4.63 billion, a price-to-earnings ratio of -893.02 and a beta of 1.79. RadNet, Inc. has a twelve month low of $36.47 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.

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.