JPMorgan Chase & Co. Has $23.67 Million Stock Position in RadNet, Inc. (NASDAQ:RDNT)

JPMorgan Chase & Co. boosted its holdings in shares of RadNet, Inc. (NASDAQ:RDNT - Free Report) by 154.8% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 338,843 shares of the medical research company's stock after buying an additional 205,846 shares during the period. JPMorgan Chase & Co. owned approximately 0.46% of RadNet worth $23,665,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently bought and sold shares of the business. WINTON GROUP Ltd purchased a new stake in shares of RadNet in the fourth quarter worth approximately $344,000. Pier Capital LLC increased its stake in RadNet by 3.0% in the 4th quarter. Pier Capital LLC now owns 125,085 shares of the medical research company's stock valued at $8,736,000 after buying an additional 3,600 shares during the period. Vanguard Group Inc. lifted its position 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 worth $518,577,000 after buying an additional 71,910 shares in the last quarter. KLP Kapitalforvaltning AS acquired a new stake in shares of RadNet during the 4th quarter valued at $915,000. Finally, Sei Investments Co. grew its holdings in shares of RadNet by 6.9% during the 4th quarter. Sei Investments Co. now owns 256,906 shares of the medical research company's stock valued at $17,943,000 after acquiring an additional 16,643 shares in the last quarter. 77.90% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other RadNet news, CEO Cornelis Wesdorp sold 1,000 shares of the firm's stock in a transaction that occurred on Friday, March 7th. The stock was sold at an average price of $50.52, for a total value of $50,520.00. Following the sale, the chief executive officer now owns 55,995 shares of the company's stock, valued at $2,828,867.40. This trade represents a 1.75 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director David L. Swartz sold 25,000 shares of the company's stock in a transaction that occurred on Friday, March 7th. The stock was 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 of the company's stock, 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 ninety days, insiders have sold 38,000 shares of company stock valued at $1,926,730. 5.12% of the stock is owned by insiders.

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RadNet Stock Performance

RadNet stock traded down $0.47 during trading hours on Monday, reaching $52.94. 162,084 shares of the company were exchanged, compared to its average volume of 652,222. RadNet, Inc. has a 12 month low of $45.00 and a 12 month high of $93.65. The company has a current ratio of 2.16, a quick ratio of 2.16 and a debt-to-equity ratio of 0.89. The stock has a 50-day moving average of $54.22 and a 200 day moving average of $65.65. The firm has a market cap of $3.92 billion, a price-to-earnings ratio of -756.18 and a beta of 1.59.

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

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on RDNT. Raymond James raised RadNet from an "outperform" rating to a "strong-buy" rating and reduced their price objective for the company from $85.00 to $65.00 in a research report on Wednesday, March 5th. Truist Financial reduced their price target on RadNet from $88.00 to $74.00 and set a "buy" rating for the company in a report on Friday. StockNews.com upgraded RadNet to a "sell" rating in a report on Wednesday, March 19th. Barclays reduced their target price on shares of RadNet from $74.00 to $60.00 and set an "overweight" rating for the company in a research note on Monday, March 24th. Finally, 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. One analyst has rated the stock with a sell rating, three have issued a buy rating and two have assigned a strong buy rating to the company's stock. According to data from MarketBeat, RadNet currently has an average rating of "Buy" and a consensus price target of $69.75.

RadNet Company 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.