B. Metzler seel. Sohn & Co. AG Acquires Shares of 23,235 RadNet, Inc. (NASDAQ:RDNT)

B. Metzler seel. Sohn & Co. AG bought a new position in RadNet, Inc. (NASDAQ:RDNT - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 23,235 shares of the medical research company's stock, valued at approximately $1,623,000.

A number of other hedge funds also recently made changes to their positions in RDNT. Vanguard Group Inc. lifted its stake in RadNet by 1.0% in the 4th quarter. Vanguard Group Inc. now owns 7,425,218 shares of the medical research company's stock valued at $518,577,000 after purchasing an additional 71,910 shares during the last quarter. State Street Corp lifted its stake in shares of RadNet by 1.3% in the 3rd quarter. State Street Corp now owns 2,446,179 shares of the medical research company's stock valued at $169,740,000 after acquiring an additional 30,244 shares during the last quarter. Geode Capital Management LLC boosted its holdings in shares of RadNet by 0.8% during 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 acquiring an additional 11,613 shares in the last quarter. Principal Financial Group Inc. grew its position in RadNet by 8.5% during 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 acquiring an additional 118,501 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC increased its holdings in RadNet by 30.4% in 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 purchasing an additional 344,146 shares in the last quarter. 77.90% of the stock is currently owned by institutional investors and hedge funds.

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Wall Street Analyst Weigh In

Several analysts have recently weighed in on the company. StockNews.com upgraded RadNet to a "sell" rating in a report on Wednesday, March 19th. Truist Financial reissued a "buy" rating and set a $88.00 target price (down from $94.00) on shares of RadNet in a report on Wednesday, January 22nd. Raymond James raised shares of RadNet from an "outperform" rating to a "strong-buy" rating and dropped their price target for the company from $85.00 to $65.00 in a research note on Wednesday, March 5th. Jefferies Financial Group cut their price target on shares of RadNet from $100.00 to $80.00 and set a "buy" rating on the stock in a report on Wednesday, January 15th. Finally, Barclays decreased their price objective on RadNet from $74.00 to $60.00 and set an "overweight" rating for the company in a report on Monday, March 24th. One investment analyst has rated the stock with a sell rating, three have given a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, RadNet presently has an average rating of "Buy" and a consensus target price of $73.25.

Insider Activity at RadNet

In other news, Director David L. Swartz sold 25,000 shares of the stock in a transaction dated Friday, March 7th. The shares were sold at an average price of $50.84, for a total transaction of $1,271,000.00. Following the transaction, the director now owns 174,067 shares of the company's stock, valued at $8,849,566.28. This represents a 12.56 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Cornelis Wesdorp sold 2,000 shares of the firm's stock in a transaction dated Wednesday, March 5th. The shares were sold at an average price of $52.58, for a total value of $105,160.00. Following the completion of the sale, the chief executive officer now owns 58,995 shares of the company's stock, valued at approximately $3,101,957.10. This represents a 3.28 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 38,000 shares of company stock worth $1,926,730 in the last 90 days. Corporate insiders own 5.12% of the company's stock.

RadNet Trading Down 1.6 %

RadNet stock traded down $0.81 during mid-day trading on Friday, hitting $48.70. 1,157,538 shares of the stock were exchanged, compared to its average volume of 639,734. The firm's fifty day simple moving average is $56.62 and its two-hundred day simple moving average is $66.67. The company has a quick ratio of 2.16, a current ratio of 2.16 and a debt-to-equity ratio of 0.89. RadNet, Inc. has a 12 month low of $45.82 and a 12 month high of $93.65. The stock has a market capitalization of $3.61 billion, a price-to-earnings ratio of -695.61 and a beta of 1.85.

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

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.