Neuberger Berman Group LLC Purchases 6,899 Shares of RadNet, Inc. (NASDAQ:RDNT)

Neuberger Berman Group LLC grew its stake in shares of RadNet, Inc. (NASDAQ:RDNT - Free Report) by 3.6% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 200,281 shares of the medical research company's stock after buying an additional 6,899 shares during the period. Neuberger Berman Group LLC owned approximately 0.27% of RadNet worth $13,988,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently modified their holdings of the stock. HighTower Advisors LLC grew its holdings in RadNet by 1.8% during the third quarter. HighTower Advisors LLC now owns 7,861 shares of the medical research company's stock valued at $545,000 after purchasing an additional 136 shares during the period. State Street Corp boosted its position in shares of RadNet by 1.3% during the third quarter. State Street Corp now owns 2,446,179 shares of the medical research company's stock worth $169,740,000 after purchasing an additional 30,244 shares in the last quarter. Wolverine Trading LLC grew its holdings in shares of RadNet by 28.6% in the 3rd quarter. Wolverine Trading LLC now owns 4,502 shares of the medical research company's stock valued at $312,000 after buying an additional 1,002 shares during the period. Barclays PLC increased its position in shares of RadNet by 373.8% in the 3rd quarter. Barclays PLC now owns 116,978 shares of the medical research company's stock valued at $8,118,000 after buying an additional 92,291 shares in the last quarter. Finally, Geode Capital Management LLC raised its stake in 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 worth $107,936,000 after buying an additional 11,613 shares during the period. 77.90% of the stock is currently owned by institutional investors and hedge funds.

Remove Ads

Insider Buying and Selling at RadNet

In other news, COO Norman R. Hames sold 5,000 shares of the business's stock in a transaction dated Wednesday, March 19th. The shares were sold at an average price of $50.22, for a total transaction of $251,100.00. Following the transaction, the chief operating officer now directly owns 251,959 shares in the company, valued at $12,653,380.98. The trade was a 1.95 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director David L. Swartz sold 25,000 shares of the company's 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 completion of the sale, the director now directly owns 174,067 shares in the company, valued at approximately $8,849,566.28. The trade was a 12.56 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 38,000 shares of company stock worth $1,926,730 over the last ninety days. 5.12% of the stock is currently owned by corporate insiders.

RadNet Stock Down 0.1 %

Shares of NASDAQ RDNT traded down $0.05 during midday trading on Monday, reaching $53.36. The company's stock had a trading volume of 414,505 shares, compared to its average volume of 653,188. RadNet, Inc. has a fifty-two week low of $45.00 and a fifty-two week high of $93.65. The stock has a 50 day simple moving average of $54.22 and a 200-day simple moving average of $65.65. The stock has a market capitalization of $3.95 billion, a price-to-earnings ratio of -762.18 and a beta of 1.59. The company has a current ratio of 2.16, a quick ratio of 2.16 and a debt-to-equity ratio of 0.89.

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

Wall Street Analysts Forecast Growth

RDNT has been the subject of a number of research analyst reports. Barclays decreased their target price on RadNet from $74.00 to $60.00 and set an "overweight" rating for the company in a research note on Monday, March 24th. Raymond James upgraded shares of RadNet from an "outperform" rating to a "strong-buy" rating and dropped their target price for the stock from $85.00 to $65.00 in a report 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 research note on Wednesday, January 15th. StockNews.com raised shares of RadNet to a "sell" rating in a research report on Wednesday, March 19th. Finally, Truist Financial cut their price objective on shares of RadNet from $88.00 to $74.00 and set a "buy" rating on the stock in a research report on Friday. One investment 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. Based on data from MarketBeat.com, RadNet currently has an average rating of "Buy" and an average target price of $69.75.

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.