Vanguard Group Inc. Grows Stock Holdings in RadNet, Inc. (NASDAQ:RDNT)

Vanguard Group Inc. grew its holdings in RadNet, Inc. (NASDAQ:RDNT) by 1.0% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 7,425,218 shares of the medical research company’s stock after buying an additional 71,910 shares during the period. Vanguard Group Inc. owned approximately 10.03% of RadNet worth $518,577,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in RDNT. HighTower Advisors LLC grew its position in RadNet by 1.8% in the third quarter. HighTower Advisors LLC now owns 7,861 shares of the medical research company’s stock worth $545,000 after acquiring an additional 136 shares in the last quarter. Highland Capital Management LLC boosted its holdings in shares of RadNet by 6.5% in the 4th quarter. Highland Capital Management LLC now owns 3,307 shares of the medical research company’s stock worth $231,000 after purchasing an additional 202 shares during the period. Virtue Capital Management LLC boosted its holdings in shares of RadNet by 1.4% in the 3rd quarter. Virtue Capital Management LLC now owns 19,389 shares of the medical research company’s stock worth $1,345,000 after purchasing an additional 264 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd increased its position in shares of RadNet by 4.3% during the 4th quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 7,389 shares of the medical research company’s stock valued at $516,000 after purchasing an additional 302 shares during the last quarter. Finally, Fifth Third Bancorp raised its holdings in RadNet by 84.3% during the 4th quarter. Fifth Third Bancorp now owns 667 shares of the medical research company’s stock valued at $47,000 after buying an additional 305 shares during the period. 77.90% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

RDNT has been the topic of a number of analyst reports. Raymond James upgraded shares of RadNet from an “outperform” rating to a “strong-buy” rating and cut their price objective for the company from $85.00 to $65.00 in a research report on Wednesday, March 5th. StockNews.com raised shares of RadNet to a “sell” rating in a research report on Wednesday, March 19th. Jefferies Financial Group dropped 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. Truist Financial reiterated a “buy” rating and issued a $88.00 price target (down from $94.00) on shares of RadNet in a report on Wednesday, January 22nd. Finally, Barclays dropped their price objective on RadNet from $74.00 to $60.00 and set an “overweight” rating for the company in a report on Monday, March 24th. One analyst has rated the stock with a sell rating, three have given a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus price target of $73.25.

RadNet Price Performance

Shares of RDNT stock opened at $49.72 on Tuesday. The company’s 50-day simple moving average is $57.35 and its two-hundred day simple moving average is $67.01. The company has a debt-to-equity ratio of 0.89, a current ratio of 2.16 and a quick ratio of 2.16. RadNet, Inc. has a one year low of $45.82 and a one year high of $93.65. The company has a market capitalization of $3.68 billion, a P/E ratio of -710.18 and a beta of 1.85.

RadNet (NASDAQ:RDNT) last released its quarterly earnings data 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. RadNet had a positive return on equity of 4.29% and a negative net margin of 0.25%. The company had revenue of $477.10 million for the quarter, compared to the consensus estimate of $459.42 million. As a group, equities analysts anticipate that RadNet, Inc. will post 0.56 EPS for the current year.

Insider Activity at RadNet

In other RadNet news, Director David L. Swartz sold 25,000 shares of the firm’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 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 position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Cornelis Wesdorp sold 1,000 shares of the company’s stock in a transaction that occurred on Friday, March 7th. The stock was sold at an average price of $50.52, for a total transaction of $50,520.00. Following the completion of the sale, the chief executive officer now directly owns 55,995 shares of the company’s stock, valued at $2,828,867.40. The trade was a 1.75 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 38,000 shares of company stock worth $1,926,730 over the last three months. 5.12% of the stock is owned by corporate insiders.

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.