10,590 Shares in RadNet, Inc. $RDNT Acquired by Assenagon Asset Management S.A.

Assenagon Asset Management S.A. purchased a new position in shares of RadNet, Inc. (NASDAQ:RDNT) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 10,590 shares of the medical research company’s stock, valued at approximately $756,000.

Other large investors also recently modified their holdings of the company. WCM Investment Management LLC boosted its position in RadNet by 32.6% during the 3rd quarter. WCM Investment Management LLC now owns 285,778 shares of the medical research company’s stock worth $21,348,000 after buying an additional 70,244 shares during the period. Castleark Management LLC grew its holdings in RadNet by 241.7% during the 2nd quarter. Castleark Management LLC now owns 96,203 shares of the medical research company’s stock worth $5,475,000 after acquiring an additional 68,050 shares during the last quarter. Norges Bank acquired a new position in RadNet in the 2nd quarter valued at approximately $31,051,000. US Bancorp DE raised its stake in shares of RadNet by 485.4% during the third quarter. US Bancorp DE now owns 28,350 shares of the medical research company’s stock valued at $2,161,000 after acquiring an additional 23,507 shares during the last quarter. Finally, Penserra Capital Management LLC grew its position in shares of RadNet by 43.4% in the 3rd quarter. Penserra Capital Management LLC now owns 479,077 shares of the medical research company’s stock valued at $36,510,000 after buying an additional 144,897 shares during the last quarter. 77.90% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other news, insider Alma Gregory Sorensen sold 15,000 shares of the stock in a transaction that occurred on Wednesday, March 18th. The stock was sold at an average price of $62.15, for a total value of $932,250.00. Following the completion of the sale, the insider directly owned 1,208,923 shares of the company’s stock, valued at $75,134,564.45. This represents a 1.23% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 5.60% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently commented on RDNT. Truist Financial set a $90.00 price objective on shares of RadNet in a research note on Wednesday, December 17th. KeyCorp raised shares of RadNet to a “strong-buy” rating in a research note on Friday, January 9th. Raymond James Financial restated a “strong-buy” rating on shares of RadNet in a report on Thursday, December 18th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of RadNet in a research report on Monday, December 29th. Finally, UBS Group set a $92.00 price target on RadNet in a report on Friday, January 9th. Two investment analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $90.43.

RadNet Trading Down 1.0%

NASDAQ:RDNT opened at $55.31 on Thursday. RadNet, Inc. has a 12 month low of $45.00 and a 12 month high of $85.84. The company has a current ratio of 1.76, a quick ratio of 1.76 and a debt-to-equity ratio of 0.79. The stock has a market capitalization of $4.29 billion, a price-to-earnings ratio of -221.24 and a beta of 1.53. The firm has a fifty day simple moving average of $66.47 and a two-hundred day simple moving average of $72.99.

RadNet (NASDAQ:RDNT) last announced its quarterly earnings data on Monday, March 2nd. The medical research company reported $0.23 earnings per share for the quarter, beating the consensus estimate of $0.19 by $0.04. RadNet had a negative net margin of 0.91% and a positive return on equity of 2.52%. The firm had revenue of $547.71 million for the quarter, compared to analyst estimates of $515.67 million. During the same quarter in the prior year, the business earned $0.22 earnings per share. The business’s quarterly revenue was up 14.8% compared to the same quarter last year. Analysts expect that RadNet, Inc. will post 0.56 EPS for the current fiscal year.

RadNet Company Profile

RadNet, Inc is a leading independent provider of outpatient diagnostic imaging services in the United States. Through a nationwide network of fixed-site imaging centers and affiliated joint-venture locations, the company delivers a comprehensive suite of radiology services including MRI, CT, PET/CT, ultrasound, X-ray, mammography, bone densitometry, nuclear medicine and interventional radiology procedures. RadNet also offers teleradiology and imaging management solutions to physician practices, hospitals and healthcare systems.

Founded in 1981 and headquartered in Los Angeles, RadNet has expanded its footprint organically and through strategic acquisitions.