Assenagon Asset Management S.A. Cuts Holdings in RadNet, Inc. (NASDAQ:RDNT)

Assenagon Asset Management S.A. lessened its position in shares of RadNet, Inc. (NASDAQ:RDNT) by 15.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 18,465 shares of the medical research company’s stock after selling 3,260 shares during the period. Assenagon Asset Management S.A.’s holdings in RadNet were worth $1,290,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Covestor Ltd lifted its stake in shares of RadNet by 10,875.0% in the 3rd quarter. Covestor Ltd now owns 439 shares of the medical research company’s stock valued at $30,000 after purchasing an additional 435 shares in the last quarter. Highline Wealth Partners LLC acquired a new position in RadNet during the third quarter valued at approximately $68,000. Peterson Financial Group Inc. purchased a new stake in RadNet during the third quarter worth approximately $90,000. GAMMA Investing LLC increased its position in shares of RadNet by 57.3% in the third quarter. GAMMA Investing LLC now owns 1,361 shares of the medical research company’s stock worth $94,000 after acquiring an additional 496 shares in the last quarter. Finally, Profund Advisors LLC acquired a new stake in shares of RadNet in the second quarter worth $207,000. 77.90% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

RDNT has been the subject of a number of research reports. Truist Financial reaffirmed a “buy” rating and set a $88.00 price target (down from $94.00) on shares of RadNet in a research report on Wednesday. Jefferies Financial Group decreased their target price on RadNet from $100.00 to $80.00 and set a “buy” rating for the company in a research report on Wednesday, January 15th. Sidoti upgraded RadNet to a “strong-buy” rating in a research note on Friday, October 4th. Finally, Barclays reduced their price target on RadNet from $85.00 to $74.00 and set an “overweight” rating on the stock in a research report on Wednesday. One analyst has rated the stock with a sell rating, four have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $75.50.

Insider Transactions at RadNet

In other news, EVP David Jeffrey Katz sold 12,300 shares of the firm’s stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $81.65, for a total transaction of $1,004,295.00. Following the completion of the sale, the executive vice president now owns 62,909 shares of the company’s stock, valued at approximately $5,136,519.85. This trade represents a 16.35 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Ranjan Jayanathan sold 38,557 shares of the company’s stock in a transaction on Tuesday, November 19th. The shares were sold at an average price of $80.00, for a total transaction of $3,084,560.00. Following the completion of the sale, the insider now directly owns 192,724 shares in the company, valued at $15,417,920. This represents a 16.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 5.12% of the company’s stock.

RadNet Stock Performance

Shares of RDNT stock opened at $64.95 on Friday. 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 company’s fifty day moving average price is $74.38 and its two-hundred day moving average price is $68.60. The firm has a market capitalization of $4.81 billion, a P/E ratio of -927.72 and a beta of 1.79. RadNet, Inc. has a 12 month low of $35.16 and a 12 month high of $93.65.

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.