198,681 Shares in RadNet, Inc. (NASDAQ:RDNT) Bought by WCM Investment Management LLC

WCM Investment Management LLC purchased a new position in shares of RadNet, Inc. (NASDAQ:RDNT - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm purchased 198,681 shares of the medical research company's stock, valued at approximately $14,110,000. WCM Investment Management LLC owned about 0.27% of RadNet at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. State Street Corp grew its position in RadNet by 1.3% during the 3rd quarter. State Street Corp now owns 2,446,179 shares of the medical research company's stock worth $169,740,000 after acquiring an additional 30,244 shares during the last quarter. Geode Capital Management LLC lifted its stake in shares of RadNet by 0.8% in the 3rd quarter. Geode Capital Management LLC now owns 1,555,214 shares of the medical research company's stock valued at $107,936,000 after purchasing an additional 11,613 shares during the period. Principal Financial Group Inc. lifted its stake in shares of RadNet by 8.5% in the 3rd quarter. Principal Financial Group Inc. now owns 1,506,545 shares of the medical research company's stock valued at $104,539,000 after purchasing an additional 118,501 shares during the period. JB Capital Partners LP lifted its stake in shares of RadNet by 15.9% in the 3rd quarter. JB Capital Partners LP now owns 1,504,061 shares of the medical research company's stock valued at $104,367,000 after purchasing an additional 206,850 shares during the period. Finally, Allspring Global Investments Holdings LLC raised its stake in RadNet by 11.8% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 1,131,849 shares of the medical research company's stock worth $78,539,000 after buying an additional 119,875 shares during the period. 77.90% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts recently weighed in on RDNT shares. Barclays dropped their price target on RadNet from $85.00 to $74.00 and set an "overweight" rating on the stock in a research note on Wednesday, January 22nd. Truist Financial reissued a "buy" rating and set a $88.00 price objective (down from $94.00) on shares of RadNet in a report on Wednesday, January 22nd. Finally, Jefferies Financial Group reduced their target price on RadNet from $100.00 to $80.00 and set a "buy" rating for the company in a report on Wednesday, January 15th. One equities research analyst has rated the stock with a sell rating, four have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $75.50.

Insider Buying and Selling at RadNet

In other RadNet news, insider Ranjan Jayanathan sold 38,557 shares of the stock in a transaction on Tuesday, November 19th. The stock was sold at an average price of $80.00, for a total transaction of $3,084,560.00. Following the sale, the insider now owns 192,724 shares in the company, valued at $15,417,920. This represents a 16.67 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP David Jeffrey Katz sold 12,300 shares of the stock in a transaction on Monday, November 25th. The stock was sold at an average price of $81.65, for a total value of $1,004,295.00. Following the sale, the executive vice president now owns 62,909 shares in the company, valued at approximately $5,136,519.85. This represents a 16.35 % decrease in their position. The disclosure for this sale can be found here. 5.12% of the stock is owned by corporate insiders.

RadNet Stock Performance

Shares of RDNT stock traded up $0.47 during trading on Thursday, hitting $62.52. The company's stock had a trading volume of 853,808 shares, compared to its average volume of 805,955. The business has a fifty day moving average of $69.46 and a 200-day moving average of $68.97. RadNet, Inc. has a 52 week low of $36.47 and a 52 week high of $93.65. The company has a market cap of $4.63 billion, a PE ratio of -893.02 and a beta of 1.79. The company has a current ratio of 2.16, a quick ratio of 2.16 and a debt-to-equity ratio of 0.89.

About RadNet

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.