Janus Henderson Group PLC Purchases 1,049 Shares of RadNet, Inc. (NASDAQ:RDNT)

Janus Henderson Group PLC boosted its holdings in RadNet, Inc. (NASDAQ:RDNT) by 3.5% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 31,436 shares of the medical research company’s stock after buying an additional 1,049 shares during the period. Janus Henderson Group PLC’s holdings in RadNet were worth $2,195,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of the business. Fred Alger Management LLC bought a new stake in shares of RadNet in the 4th quarter worth about $1,781,000. Deutsche Bank AG raised its position in RadNet by 5.3% during the 4th quarter. Deutsche Bank AG now owns 519,056 shares of the medical research company’s stock valued at $36,251,000 after purchasing an additional 26,225 shares in the last quarter. Centiva Capital LP bought a new stake in shares of RadNet in the fourth quarter valued at about $578,000. Bayesian Capital Management LP bought a new stake in shares of RadNet in the 4th quarter valued at about $319,000. Finally, Alyeska Investment Group L.P. lifted its holdings in RadNet by 108.6% during the fourth quarter. Alyeska Investment Group L.P. now owns 502,612 shares of the medical research company’s stock worth $35,102,000 after buying an additional 261,711 shares during the period. 77.90% of the stock is owned by institutional investors.

Analysts Set New Price Targets

RDNT has been the subject of a number of recent analyst reports. Barclays lowered their price objective on RadNet from $74.00 to $60.00 and set an “overweight” rating for the company in a research report on Monday, March 24th. Raymond James raised RadNet from an “outperform” rating to a “strong-buy” rating and dropped their target price for the stock from $85.00 to $65.00 in a report on Wednesday, March 5th. StockNews.com raised shares of RadNet to a “sell” rating in a report on Monday, May 12th. Finally, Truist Financial cut their price objective on RadNet from $88.00 to $74.00 and set a “buy” rating for the company in a research report on Friday, April 11th. One investment analyst has rated the stock with a sell rating, three have issued a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Buy” and a consensus target price of $69.75.

RadNet Stock Performance

Shares of RDNT opened at $60.16 on Wednesday. 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 stock has a 50 day moving average price of $52.26 and a 200 day moving average price of $63.06. The company has a market capitalization of $4.51 billion, a price-to-earnings ratio of -859.31 and a beta of 1.46. RadNet, Inc. has a 52-week low of $45.00 and a 52-week high of $93.65.

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

Insider Buying and Selling

In related news, COO Norman R. Hames sold 5,000 shares of the firm’s stock in a transaction that occurred on Monday, March 17th. The stock was sold at an average price of $49.79, for a total value of $248,950.00. Following the sale, the chief operating officer now owns 261,959 shares of the company’s stock, valued at approximately $13,042,938.61. This trade represents a 1.87% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Cornelis Wesdorp sold 2,000 shares of the business’s stock in a transaction dated Wednesday, March 5th. The shares were sold at an average price of $52.58, for a total transaction of $105,160.00. Following the transaction, the chief executive officer now directly owns 58,995 shares of the company’s stock, valued at $3,101,957.10. The trade was a 3.28% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 46,447 shares of company stock valued at $2,433,550 in the last quarter. Company insiders own 5.12% of the company’s stock.

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.