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

Allspring Global Investments Holdings LLC raised its stake in shares of RadNet, Inc. (NASDAQ:RDNTFree Report) by 18.9% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 496,632 shares of the medical research company’s stock after buying an additional 78,857 shares during the quarter. Allspring Global Investments Holdings LLC owned about 0.73% of RadNet worth $24,166,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Assetmark Inc. grew its holdings in RadNet by 35.2% during the 4th quarter. Assetmark Inc. now owns 3,183 shares of the medical research company’s stock valued at $111,000 after buying an additional 829 shares during the last quarter. Los Angeles Capital Management LLC purchased a new position in shares of RadNet during the 1st quarter worth $218,000. Moran Wealth Management LLC purchased a new position in shares of RadNet during the 4th quarter worth $236,000. Beverly Hills Private Wealth LLC purchased a new position in shares of RadNet during the 4th quarter worth $243,000. Finally, O ROURKE & COMPANY Inc purchased a new position in shares of RadNet during the 1st quarter worth $245,000. Institutional investors and hedge funds own 77.90% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on RDNT shares. Jefferies Financial Group increased their price target on RadNet from $47.00 to $58.00 and gave the stock a “buy” rating in a research note on Friday, March 22nd. Raymond James increased their target price on RadNet from $50.00 to $60.00 and gave the stock an “outperform” rating in a research report on Friday, May 10th. StockNews.com lowered RadNet from a “hold” rating to a “sell” rating in a research report on Wednesday, May 15th. Finally, Truist Financial reissued a “buy” rating and issued a $63.00 price objective (up from $55.00) on shares of RadNet in a research report on Wednesday, May 15th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $57.25.

Get Our Latest Stock Analysis on RadNet

Insider Activity

In other news, EVP David Jeffrey Katz sold 16,400 shares of the firm’s stock in a transaction dated Friday, June 7th. The stock was sold at an average price of $61.26, for a total transaction of $1,004,664.00. Following the completion of the sale, the executive vice president now directly owns 65,441 shares in the company, valued at $4,008,915.66. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, EVP David Jeffrey Katz sold 16,400 shares of the firm’s stock in a transaction dated Friday, June 7th. The stock was sold at an average price of $61.26, for a total transaction of $1,004,664.00. Following the completion of the sale, the executive vice president now directly owns 65,441 shares in the company, valued at $4,008,915.66. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Christine Nayoma Gordon sold 1,500 shares of the firm’s stock in a transaction dated Monday, June 10th. The shares were sold at an average price of $61.03, for a total value of $91,545.00. Following the sale, the director now owns 10,879 shares of the company’s stock, valued at $663,945.37. The disclosure for this sale can be found here. Insiders sold 99,730 shares of company stock worth $6,121,516 over the last ninety days. Corporate insiders own 5.12% of the company’s stock.

RadNet Trading Up 0.6 %

NASDAQ:RDNT opened at $59.63 on Friday. The business’s 50-day moving average is $57.35 and its two-hundred day moving average is $47.00. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.86 and a quick ratio of 1.86. RadNet, Inc. has a 12 month low of $25.11 and a 12 month high of $64.06. The firm has a market capitalization of $4.41 billion, a PE ratio of 198.77 and a beta of 1.75.

RadNet (NASDAQ:RDNTGet Free Report) last announced its earnings results on Wednesday, May 8th. The medical research company reported $0.07 earnings per share for the quarter, beating the consensus estimate of ($0.09) by $0.16. The company had revenue of $431.70 million during the quarter, compared to the consensus estimate of $421.72 million. RadNet had a return on equity of 5.05% and a net margin of 1.28%. The company’s revenue was up 10.5% on a year-over-year basis. During the same period last year, the firm earned ($0.08) earnings per share. Research analysts predict that RadNet, Inc. will post 0.59 earnings per share for the current fiscal year.

RadNet Profile

(Free Report)

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.

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Institutional Ownership by Quarter for RadNet (NASDAQ:RDNT)

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