RadNet, Inc. (NASDAQ:RDNT) Shares Purchased by Xponance Inc.

Xponance Inc. boosted its stake in RadNet, Inc. (NASDAQ:RDNT) by 5.0% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 5,010 shares of the medical research company’s stock after purchasing an additional 239 shares during the period. Xponance Inc.’s holdings in RadNet were worth $249,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Vanguard Group Inc. lifted its position in shares of RadNet by 1.0% during the 4th quarter. Vanguard Group Inc. now owns 7,425,218 shares of the medical research company’s stock worth $518,577,000 after purchasing an additional 71,910 shares during the last quarter. RTW Investments LP raised its holdings in shares of RadNet by 9.4% in the fourth quarter. RTW Investments LP now owns 1,978,582 shares of the medical research company’s stock valued at $138,184,000 after buying an additional 169,978 shares during the last quarter. Invesco Ltd. raised its holdings in shares of RadNet by 4.3% in the fourth quarter. Invesco Ltd. now owns 1,731,074 shares of the medical research company’s stock valued at $120,898,000 after buying an additional 70,673 shares during the last quarter. Allspring Global Investments Holdings LLC raised its holdings in shares of RadNet by 14.4% in the first quarter. Allspring Global Investments Holdings LLC now owns 1,689,275 shares of the medical research company’s stock valued at $85,511,000 after buying an additional 213,280 shares during the last quarter. Finally, Hood River Capital Management LLC raised its holdings in shares of RadNet by 3.1% in the fourth quarter. Hood River Capital Management LLC now owns 1,322,879 shares of the medical research company’s stock valued at $92,390,000 after buying an additional 39,881 shares during the last quarter. Institutional investors and hedge funds own 77.90% of the company’s stock.

Insider Activity at RadNet

In other RadNet news, EVP Alma Gregory Sorensen sold 55,000 shares of the company’s stock in a transaction dated Friday, May 23rd. The shares were sold at an average price of $56.48, for a total transaction of $3,106,400.00. Following the completion of the sale, the executive vice president directly owned 1,160,509 shares in the company, valued at $65,545,548.32. This represents a 4.52% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Norman R. Hames sold 5,536 shares of the company’s stock in a transaction dated Thursday, May 15th. The shares were sold at an average price of $60.00, for a total transaction of $332,160.00. Following the sale, the chief operating officer owned 249,183 shares of the company’s stock, valued at $14,950,980. This trade represents a 2.17% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 63,447 shares of company stock worth $3,613,220. Company insiders own 5.60% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently issued reports on RDNT. B. Riley began coverage on shares of RadNet in a report on Friday, June 13th. They set a “buy” rating and a $69.00 price target for the company. Barclays lowered their target price on shares of RadNet from $74.00 to $60.00 and set an “overweight” rating on the stock in a research report on Monday, March 24th. Wall Street Zen lowered shares of RadNet from a “hold” rating to a “sell” rating in a research report on Sunday, June 29th. Finally, Truist Financial set a $74.00 price target on shares of RadNet in a research report on Thursday, July 10th. One investment analyst has rated the stock with a sell rating, three have assigned a buy rating and three have assigned a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus price target of $69.60.

RadNet Stock Down 2.3%

RDNT stock opened at $57.49 on Friday. RadNet, Inc. has a 52-week low of $45.00 and a 52-week high of $93.65. The company’s 50 day simple moving average is $57.29 and its 200-day simple moving average is $56.96. The company has a debt-to-equity ratio of 0.87, a current ratio of 2.01 and a quick ratio of 2.01. The firm has a market capitalization of $4.31 billion, a P/E ratio of -133.69 and a beta of 1.41.

RadNet 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.