TD Asset Management Inc Increases Stake in RadNet, Inc. (NASDAQ:RDNT)

TD Asset Management Inc raised its holdings in shares of RadNet, Inc. (NASDAQ:RDNT) by 77.9% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 52,996 shares of the medical research company’s stock after acquiring an additional 23,212 shares during the quarter. TD Asset Management Inc owned approximately 0.07% of RadNet worth $2,635,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently modified their holdings of the business. Rhumbline Advisers boosted its stake in RadNet by 1.1% in the 1st quarter. Rhumbline Advisers now owns 175,776 shares of the medical research company’s stock worth $8,740,000 after purchasing an additional 1,895 shares during the period. GAMMA Investing LLC boosted its position in shares of RadNet by 22.3% during the first quarter. GAMMA Investing LLC now owns 1,644 shares of the medical research company’s stock worth $82,000 after acquiring an additional 300 shares during the last quarter. Wealth Enhancement Advisory Services LLC boosted its position in shares of RadNet by 28.6% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 6,945 shares of the medical research company’s stock worth $345,000 after acquiring an additional 1,545 shares during the last quarter. Envestnet Asset Management Inc. grew its stake in RadNet by 50.3% during the first quarter. Envestnet Asset Management Inc. now owns 137,870 shares of the medical research company’s stock valued at $6,855,000 after acquiring an additional 46,169 shares in the last quarter. Finally, SG Americas Securities LLC increased its holdings in RadNet by 239.5% in the 1st quarter. SG Americas Securities LLC now owns 13,337 shares of the medical research company’s stock valued at $663,000 after acquiring an additional 9,409 shares during the last quarter. Institutional investors own 77.90% of the company’s stock.

Insider Activity at RadNet

In other RadNet news, COO Norman R. Hames sold 2,911 shares of the stock in a transaction dated Thursday, May 15th. The stock was sold at an average price of $60.00, for a total transaction of $174,660.00. Following the sale, the chief operating officer directly owned 24,889 shares of the company’s stock, valued at approximately $1,493,340. This trade represents a 10.47% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Alma Gregory Sorensen sold 55,000 shares of the stock in a transaction that occurred on Friday, May 23rd. The stock was sold at an average price of $56.48, for a total value of $3,106,400.00. Following the transaction, the executive vice president owned 1,160,509 shares in the company, valued at $65,545,548.32. This represents a 4.52% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 63,447 shares of company stock valued at $3,613,220. Company insiders own 5.60% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently commented on RDNT shares. B. Riley assumed coverage on RadNet in a research note on Friday, June 13th. They set a “buy” rating and a $69.00 price target for the company. Wall Street Zen cut RadNet from a “hold” rating to a “sell” rating in a report on Sunday, June 29th. Finally, Truist Financial set a $74.00 target price on shares of RadNet in a report on Thursday, July 10th. One investment analyst has rated the stock with a sell rating, three have given a buy rating and three have given a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Buy” and a consensus price target of $69.60.

RadNet Price Performance

Shares of RDNT stock opened at $54.69 on Friday. RadNet, Inc. has a fifty-two week low of $45.00 and a fifty-two week high of $93.65. The company has a debt-to-equity ratio of 0.87, a quick ratio of 2.01 and a current ratio of 2.01. The firm has a market capitalization of $4.10 billion, a price-to-earnings ratio of -127.18 and a beta of 1.43. The stock’s 50-day simple moving average is $56.81 and its 200-day simple moving average is $56.09.

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.