473,791 Shares in RadNet, Inc. (NASDAQ:RDNT) Bought by Raymond James Financial Inc.

Raymond James Financial Inc. purchased a new stake in RadNet, Inc. (NASDAQ:RDNT - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor purchased 473,791 shares of the medical research company's stock, valued at approximately $33,090,000. Raymond James Financial Inc. owned about 0.64% of RadNet at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently bought and sold shares of RDNT. State Street Corp boosted its stake in shares of 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 in the last quarter. Geode Capital Management LLC boosted its position 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. increased its stake in 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 worth $104,539,000 after purchasing an additional 118,501 shares in the last quarter. JB Capital Partners LP increased its stake in 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 worth $104,367,000 after purchasing an additional 206,850 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC raised its holdings in RadNet by 30.4% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 1,475,995 shares of the medical research company's stock worth $103,532,000 after buying an additional 344,146 shares during the period. 77.90% of the stock is owned by institutional investors and hedge funds.

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Analyst Ratings Changes

RDNT has been the subject of several recent analyst reports. Truist Financial reiterated a "buy" rating and issued a $88.00 target price (down from $94.00) on shares of RadNet in a report on Wednesday, January 22nd. Barclays decreased their price objective on shares of RadNet from $85.00 to $74.00 and set an "overweight" rating for the company in a research note on Wednesday, January 22nd. Raymond James raised shares of RadNet from an "outperform" rating to a "strong-buy" rating and cut their target price for the company from $85.00 to $65.00 in a research note on Wednesday, March 5th. 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 analyst has rated the stock with a sell rating, three have issued a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Buy" and a consensus price target of $76.75.

RadNet Stock Up 5.3 %

Shares of NASDAQ RDNT traded up $2.48 during mid-day trading on Monday, reaching $49.02. The company had a trading volume of 1,446,227 shares, compared to its average volume of 608,798. The stock has a market capitalization of $3.63 billion, a PE ratio of -700.19 and a beta of 1.85. RadNet, Inc. has a twelve month low of $44.08 and a twelve month high of $93.65. The company has a debt-to-equity ratio of 0.89, a quick ratio of 2.16 and a current ratio of 2.16. The stock's 50 day moving average is $61.00 and its 200-day moving average is $68.05.

RadNet (NASDAQ:RDNT - Get Free Report) last issued its earnings results on Thursday, February 27th. The medical research company reported $0.22 earnings per share for the quarter, topping the consensus estimate of $0.21 by $0.01. The company had revenue of $477.10 million for the quarter, compared to analyst estimates of $459.42 million. RadNet had a positive return on equity of 4.29% and a negative net margin of 0.25%. As a group, equities analysts anticipate that RadNet, Inc. will post 0.56 earnings per share for the current fiscal year.

Insider Activity at RadNet

In other RadNet news, CEO Cornelis Wesdorp sold 1,000 shares of the stock in a transaction on Friday, March 7th. The shares were sold at an average price of $50.52, for a total transaction of $50,520.00. Following the transaction, the chief executive officer now directly owns 55,995 shares of the company's stock, valued at $2,828,867.40. This represents a 1.75 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director David L. Swartz sold 25,000 shares of the firm's stock in a transaction dated Friday, March 7th. The shares were sold at an average price of $50.84, for a total value of $1,271,000.00. Following the transaction, the director now owns 174,067 shares in the company, valued at approximately $8,849,566.28. This trade represents a 12.56 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 28,000 shares of company stock valued at $1,426,680. 5.12% of the stock is currently owned by corporate insiders.

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.