RadNet, Inc. (NASDAQ:RDNT) Holdings Raised by Wells Fargo & Company MN

Wells Fargo & Company MN raised its stake in shares of RadNet, Inc. (NASDAQ:RDNT - Free Report) by 29.4% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 80,243 shares of the medical research company's stock after acquiring an additional 18,231 shares during the period. Wells Fargo & Company MN owned approximately 0.11% of RadNet worth $5,604,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in RDNT. HighTower Advisors LLC grew its holdings in shares of RadNet by 1.8% in 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 in the last quarter. Barclays PLC raised its position in 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 purchasing an additional 92,291 shares during the last quarter. Sanctuary Advisors LLC purchased a new stake in shares of RadNet in the third quarter valued at about $211,000. Franklin Resources Inc. lifted its stake in shares of RadNet by 12.0% in the third quarter. Franklin Resources Inc. now owns 387,061 shares of the medical research company's stock valued at $27,334,000 after purchasing an additional 41,381 shares during the period. Finally, Principal Financial Group Inc. boosted its stake in shares of 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 in the last quarter. 77.90% of the stock is currently owned by institutional investors and hedge funds.

RadNet Trading Up 2.1 %

RDNT traded up $1.04 during trading on Thursday, hitting $50.05. The company's stock had a trading volume of 59,999 shares, compared to its average volume of 893,475. The firm's 50 day moving average price is $52.15 and its 200-day moving average price is $64.67. The company has a debt-to-equity ratio of 0.89, a current ratio of 2.16 and a quick ratio of 2.16. The stock has a market cap of $3.71 billion, a PE ratio of -714.33 and a beta of 1.59. RadNet, Inc. has a twelve month low of $45.00 and a twelve month high of $93.65.

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

Analyst Ratings Changes

Several equities research analysts have recently commented on the company. Truist Financial decreased their price target on RadNet from $88.00 to $74.00 and set a "buy" rating on the stock in a research note on Friday, April 11th. Raymond James upgraded RadNet from an "outperform" rating to a "strong-buy" rating and cut their price objective for the stock from $85.00 to $65.00 in a research report on Wednesday, March 5th. Barclays cut their price objective on RadNet from $74.00 to $60.00 and set an "overweight" rating for the company in a research report on Monday, March 24th. StockNews.com upgraded RadNet to a "sell" rating in a research report on Wednesday, March 19th. Finally, Jefferies Financial Group cut their price objective on RadNet from $100.00 to $80.00 and set a "buy" rating for the company in a research report on Wednesday, January 15th. One investment analyst has rated the stock with a sell rating, three have assigned a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, RadNet currently has a consensus rating of "Buy" and a consensus target price of $69.75.

Insider Buying and Selling at RadNet

In other news, Director David L. Swartz sold 25,000 shares of the business'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 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 position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Norman R. Hames sold 5,000 shares of the company's stock in a transaction on Monday, March 17th. The stock was sold at an average price of $49.79, for a total value of $248,950.00. Following the transaction, the chief operating officer now owns 261,959 shares of the company's stock, valued at approximately $13,042,938.61. The trade was a 1.87 % 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 valued at $1,926,730 in the last ninety days. Insiders own 5.12% of the company's stock.

About RadNet

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.