B. Metzler seel. Sohn & Co. AG Takes Position in RadNet, Inc. (NASDAQ:RDNT)

B. Metzler seel. Sohn & Co. AG bought a new position in shares of RadNet, Inc. (NASDAQ:RDNT) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 23,235 shares of the medical research company’s stock, valued at approximately $1,623,000.

Other institutional investors have also bought and sold shares of the company. Norges Bank bought a new position in shares of RadNet during the fourth quarter valued at $56,381,000. Raymond James Financial Inc. bought a new position in RadNet during the 4th quarter valued at about $33,090,000. Portolan Capital Management LLC boosted its position in RadNet by 384.8% in the third quarter. Portolan Capital Management LLC now owns 491,358 shares of the medical research company’s stock valued at $34,095,000 after buying an additional 390,011 shares in the last quarter. Allspring Global Investments Holdings LLC grew its stake in RadNet by 30.4% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 1,475,995 shares of the medical research company’s stock worth $103,532,000 after buying an additional 344,146 shares during the last quarter. Finally, Clearbridge Investments LLC increased its holdings in shares of RadNet by 28.3% during the fourth quarter. Clearbridge Investments LLC now owns 942,082 shares of the medical research company’s stock worth $65,795,000 after buying an additional 207,582 shares in the last quarter. Institutional investors and hedge funds own 77.90% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently commented on RDNT. Raymond James raised RadNet from an “outperform” rating to a “strong-buy” rating and reduced their target price for the stock from $85.00 to $65.00 in a report on Wednesday, March 5th. Truist Financial restated a “buy” rating and set a $88.00 target price (down previously from $94.00) on shares of RadNet in a report on Wednesday, January 22nd. Jefferies Financial Group cut their price target on RadNet from $100.00 to $80.00 and set a “buy” rating for the company in a report on Wednesday, January 15th. StockNews.com raised shares of RadNet to a “sell” rating in a report on Wednesday, March 19th. Finally, Barclays dropped their target price on shares of RadNet from $74.00 to $60.00 and set an “overweight” rating for the company in a research note on Monday, March 24th. One research analyst has rated the stock with a sell rating, three have issued a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of “Buy” and an average target price of $73.25.

RadNet Price Performance

RadNet stock opened at $52.51 on Thursday. The stock has a market cap of $3.89 billion, a price-to-earnings ratio of -750.04 and a beta of 1.85. RadNet, Inc. has a 12-month low of $45.82 and a 12-month high of $93.65. The company has a quick ratio of 2.16, a current ratio of 2.16 and a debt-to-equity ratio of 0.89. The business’s 50-day simple moving average is $56.93 and its 200 day simple moving average is $66.79.

RadNet (NASDAQ:RDNT) last issued its earnings results on Thursday, February 27th. The medical research company reported $0.22 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.21 by $0.01. The company had revenue of $477.10 million for 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%. As a group, research analysts anticipate that RadNet, Inc. will post 0.56 earnings per share for the current year.

Insider Buying and Selling at RadNet

In other RadNet news, COO Norman R. Hames sold 5,000 shares of the stock in a transaction dated Wednesday, March 19th. The stock was sold at an average price of $50.22, for a total value of $251,100.00. Following the transaction, the chief operating officer now owns 251,959 shares of the company’s stock, valued at approximately $12,653,380.98. This represents a 1.95 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Cornelis Wesdorp sold 1,000 shares of the business’s stock in a transaction dated Friday, March 7th. The stock was sold at an average price of $50.52, for a total value of $50,520.00. Following the transaction, the chief executive officer now owns 55,995 shares of the company’s stock, valued at $2,828,867.40. The trade was a 1.75 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 38,000 shares of company stock valued at $1,926,730. 5.12% of the stock is currently owned by insiders.

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.