RadNet, Inc. (NASDAQ:RDNT) Shares Sold by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC decreased its position in RadNet, Inc. (NASDAQ:RDNT) by 19.2% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 417,775 shares of the medical research company’s stock after selling 99,270 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in RadNet were worth $14,526,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the company. Point72 Asset Management L.P. increased its stake in RadNet by 278.7% during the 2nd quarter. Point72 Asset Management L.P. now owns 2,066,295 shares of the medical research company’s stock worth $67,403,000 after buying an additional 1,520,695 shares during the period. BlackRock Inc. grew its stake in shares of RadNet by 17.0% during the second quarter. BlackRock Inc. now owns 8,053,427 shares of the medical research company’s stock valued at $262,703,000 after acquiring an additional 1,170,999 shares in the last quarter. Loomis Sayles & Co. L P purchased a new stake in shares of RadNet during the third quarter worth about $18,477,000. Wellington Management Group LLP acquired a new position in shares of RadNet in the third quarter worth about $17,534,000. Finally, Emerald Advisers LLC purchased a new position in RadNet in the third quarter valued at about $12,503,000. Hedge funds and other institutional investors own 77.90% of the company’s stock.

RadNet Stock Performance

RadNet stock opened at $47.81 on Tuesday. The company has a debt-to-equity ratio of 1.00, a current ratio of 1.32 and a quick ratio of 1.32. RadNet, Inc. has a 12 month low of $25.11 and a 12 month high of $49.94. The company has a fifty day moving average price of $43.94 and a two-hundred day moving average price of $36.86. The company has a market cap of $3.27 billion, a PE ratio of -2,389.31 and a beta of 1.69.

RadNet (NASDAQ:RDNT) last posted its quarterly earnings results on Friday, March 1st. The medical research company reported $0.20 EPS for the quarter, beating the consensus estimate of $0.11 by $0.09. RadNet had a net margin of 0.19% and a return on equity of 4.72%. The business had revenue of $420.38 million during the quarter, compared to analyst estimates of $410.11 million. During the same period in the previous year, the business posted $0.11 EPS. The company’s quarterly revenue was up 9.5% on a year-over-year basis. Research analysts expect that RadNet, Inc. will post 0.35 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on RDNT shares. Truist Financial reaffirmed a “buy” rating and issued a $55.00 target price (up from $51.00) on shares of RadNet in a research report on Thursday, March 28th. Jefferies Financial Group raised their price objective on shares of RadNet from $47.00 to $58.00 and gave the stock a “buy” rating in a report on Friday, March 22nd. StockNews.com lowered shares of RadNet from a “hold” rating to a “sell” rating in a research note on Thursday, April 11th. Finally, Barclays started coverage on RadNet in a research note on Wednesday, March 6th. They issued an “equal weight” rating and a $48.00 price target for the company.

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.