RadNet, Inc. (NASDAQ:RDNT) Shares Purchased by Vanguard Group Inc.

Vanguard Group Inc. raised its position in RadNet, Inc. (NASDAQ:RDNT - Free Report) by 1.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 7,425,218 shares of the medical research company's stock after acquiring an additional 71,910 shares during the quarter. Vanguard Group Inc. owned 10.03% of RadNet worth $518,577,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in RDNT. The Manufacturers Life Insurance Company grew its holdings in RadNet by 3.5% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 38,796 shares of the medical research company's stock valued at $2,692,000 after purchasing an additional 1,323 shares in the last quarter. D.A. Davidson & CO. purchased a new position in RadNet in the 3rd quarter valued at about $208,000. FMR LLC grew its stake in shares of RadNet by 0.3% during the third quarter. FMR LLC now owns 701,396 shares of the medical research company's stock valued at $48,670,000 after acquiring an additional 2,242 shares in the last quarter. BNP Paribas Financial Markets increased its position in shares of RadNet by 128.2% during the third quarter. BNP Paribas Financial Markets now owns 15,447 shares of the medical research company's stock worth $1,072,000 after acquiring an additional 8,677 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of RadNet by 33.6% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 17,244 shares of the medical research company's stock worth $1,197,000 after acquiring an additional 4,332 shares in the last quarter. 77.90% of the stock is owned by institutional investors and hedge funds.

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Insider Buying and Selling at RadNet

In other RadNet news, CEO Cornelis Wesdorp sold 2,000 shares of the firm's stock in a transaction on Wednesday, March 5th. The stock was sold at an average price of $52.58, for a total value of $105,160.00. Following the sale, the chief executive officer now directly owns 58,995 shares in the company, valued at approximately $3,101,957.10. This trade represents a 3.28 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, COO Norman R. Hames sold 5,000 shares of the business's stock in a transaction on Monday, March 17th. The shares were sold at an average price of $49.79, for a total transaction of $248,950.00. Following the transaction, the chief operating officer now directly owns 261,959 shares of the company's stock, valued at approximately $13,042,938.61. This trade represents a 1.87 % decrease in their position. 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. Company insiders own 5.12% of the company's stock.

RadNet Stock Performance

RadNet stock traded down $0.81 during mid-day trading on Friday, reaching $48.70. The company's stock had a trading volume of 1,157,538 shares, compared to its average volume of 639,734. 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, Inc. has a twelve month low of $45.82 and a twelve month high of $93.65. The business has a 50 day moving average price of $56.32 and a 200-day moving average price of $66.55. The firm has a market cap 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 posted its quarterly earnings results on Thursday, February 27th. The medical research company reported $0.22 EPS for the quarter, beating the consensus estimate of $0.21 by $0.01. The business had revenue of $477.10 million during the quarter, compared to analyst estimates of $459.42 million. RadNet had a negative net margin of 0.25% and a positive return on equity of 4.29%. Sell-side analysts predict that RadNet, Inc. will post 0.56 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

RDNT has been the subject of a number of recent analyst reports. StockNews.com upgraded RadNet to a "sell" rating in a research note on Wednesday, March 19th. Barclays decreased their price target on shares of RadNet from $74.00 to $60.00 and set an "overweight" rating for the company in a research report on Monday, March 24th. 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. Raymond James upgraded shares of 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 note on Wednesday, March 5th. Finally, Truist Financial reissued a "buy" rating and issued a $88.00 target price (down previously from $94.00) on shares of RadNet in a research report on Wednesday, January 22nd. One investment analyst has rated the stock with a sell rating, three have given a buy rating and two have given a strong buy rating to the company's stock. According to MarketBeat.com, RadNet has an average rating of "Buy" and a consensus target price of $73.25.

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.