RadNet, Inc. (NASDAQ:RDNT) Position Increased by Xponance Inc.

Xponance Inc. raised its stake in RadNet, Inc. (NASDAQ:RDNT) by 10.4% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 4,771 shares of the medical research company’s stock after buying an additional 451 shares during the period. Xponance Inc.’s holdings in RadNet were worth $333,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently modified their holdings of the company. State Street Corp boosted its holdings in shares of RadNet by 1.3% in the third quarter. State Street Corp now owns 2,446,179 shares of the medical research company’s stock worth $169,740,000 after buying an additional 30,244 shares during the period. Geode Capital Management LLC lifted its position in shares of RadNet by 0.8% in the 3rd quarter. Geode Capital Management LLC now owns 1,555,214 shares of the medical research company’s stock valued at $107,936,000 after acquiring an additional 11,613 shares in the last quarter. Principal Financial Group Inc. boosted its stake in RadNet by 8.5% in the 3rd quarter. Principal Financial Group Inc. now owns 1,506,545 shares of the medical research company’s stock worth $104,539,000 after purchasing an additional 118,501 shares during the period. JB Capital Partners LP raised its stake in RadNet by 15.9% during the 3rd quarter. JB Capital Partners LP now owns 1,504,061 shares of the medical research company’s stock valued at $104,367,000 after purchasing an additional 206,850 shares during the period. Finally, Allspring Global Investments Holdings LLC lifted its holdings in shares of RadNet by 30.4% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 1,475,995 shares of the medical research company’s stock valued at $103,532,000 after purchasing an additional 344,146 shares in the last quarter. Institutional investors and hedge funds own 77.90% of the company’s stock.

Insider Transactions at RadNet

In other news, CEO Cornelis Wesdorp sold 1,000 shares of RadNet 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 sale, the chief executive officer now directly owns 55,995 shares in the company, valued at approximately $2,828,867.40. The trade was a 1.75 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director David L. Swartz sold 25,000 shares of the stock in a transaction dated Friday, March 7th. The stock was sold at an average price of $50.84, for a total transaction of $1,271,000.00. Following the completion of the transaction, the director now directly owns 174,067 shares of the company’s stock, valued at $8,849,566.28. This trade represents a 12.56 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 38,000 shares of company stock worth $1,926,730. 5.12% of the stock is currently owned by company insiders.

RadNet Trading Down 0.1 %

Shares of RDNT stock opened at $50.67 on Friday. RadNet, Inc. has a 12 month low of $45.82 and a 12 month high of $93.65. The company has a market cap of $3.75 billion, a PE ratio of -723.75 and a beta of 1.85. 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 business’s 50 day moving average is $57.76 and its two-hundred day moving average is $67.13.

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

Analyst Ratings Changes

RDNT has been the topic of a number of research analyst reports. StockNews.com upgraded RadNet to a “sell” rating in a report on Wednesday, March 19th. Raymond James raised RadNet from an “outperform” rating to a “strong-buy” rating and lowered their target price for the company from $85.00 to $65.00 in a research note on Wednesday, March 5th. Jefferies Financial Group reduced their price target 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. Barclays lowered their price objective on shares of RadNet from $74.00 to $60.00 and set an “overweight” rating on the stock in a research report on Monday. Finally, Truist Financial reiterated a “buy” rating and issued a $88.00 target price (down previously from $94.00) on shares of RadNet in a research report on Wednesday, January 22nd. One investment analyst has rated the stock with a sell rating, three have issued a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, RadNet has an average rating of “Buy” and a consensus target price of $73.25.

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.