Assenagon Asset Management S.A. Takes Position in RadNet, Inc. $RDNT

Assenagon Asset Management S.A. acquired a new position in RadNet, Inc. (NASDAQ:RDNT) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 10,590 shares of the medical research company’s stock, valued at approximately $756,000.

Several other institutional investors also recently modified their holdings of the business. Allworth Financial LP lifted its holdings in RadNet by 346.6% during the third quarter. Allworth Financial LP now owns 393 shares of the medical research company’s stock worth $30,000 after acquiring an additional 305 shares during the period. Danske Bank A S purchased a new position in shares of RadNet in the 3rd quarter worth about $30,000. Farther Finance Advisors LLC boosted its holdings in shares of RadNet by 1,086.5% in the 3rd quarter. Farther Finance Advisors LLC now owns 439 shares of the medical research company’s stock worth $33,000 after buying an additional 402 shares during the last quarter. Jones Financial Companies Lllp grew its position in RadNet by 62.2% during the third quarter. Jones Financial Companies Lllp now owns 446 shares of the medical research company’s stock valued at $34,000 after buying an additional 171 shares during the period. Finally, Salomon & Ludwin LLC purchased a new position in RadNet in the third quarter valued at about $37,000. 77.90% of the stock is owned by institutional investors.

Insider Buying and Selling at RadNet

In other RadNet news, insider Alma Gregory Sorensen sold 15,000 shares of the firm’s stock in a transaction dated Wednesday, March 18th. The stock was sold at an average price of $62.15, for a total value of $932,250.00. Following the sale, the insider owned 1,208,923 shares of the company’s stock, valued at $75,134,564.45. This trade represents a 1.23% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 5.60% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of research analysts have recently weighed in on RDNT shares. UBS Group set a $92.00 target price on shares of RadNet in a research report on Friday, January 9th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of RadNet in a report on Monday, December 29th. Truist Financial set a $90.00 target price on RadNet in a research note on Wednesday, December 17th. Jefferies Financial Group reaffirmed a “buy” rating and set a $91.00 price target on shares of RadNet in a research report on Tuesday, March 3rd. Finally, Raymond James Financial reissued a “strong-buy” rating on shares of RadNet in a report on Thursday, December 18th. Two equities research analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, RadNet has a consensus rating of “Moderate Buy” and a consensus target price of $90.43.

RadNet Stock Down 1.0%

Shares of NASDAQ RDNT opened at $55.31 on Thursday. The business has a 50-day simple moving average of $66.47 and a two-hundred day simple moving average of $72.99. The company has a quick ratio of 1.76, a current ratio of 1.76 and a debt-to-equity ratio of 0.79. The company has a market cap of $4.29 billion, a P/E ratio of -221.24 and a beta of 1.53. RadNet, Inc. has a 52 week low of $45.00 and a 52 week high of $85.84.

RadNet (NASDAQ:RDNT) last announced its quarterly earnings results on Monday, March 2nd. The medical research company reported $0.23 EPS for the quarter, beating the consensus estimate of $0.19 by $0.04. The firm had revenue of $547.71 million during the quarter, compared to the consensus estimate of $515.67 million. RadNet had a negative net margin of 0.91% and a positive return on equity of 2.52%. The business’s quarterly revenue was up 14.8% compared to the same quarter last year. During the same period last year, the firm earned $0.22 EPS. Research analysts anticipate that RadNet, Inc. will post 0.56 earnings per share for the current fiscal year.

RadNet Profile

RadNet, Inc is a leading independent provider of outpatient diagnostic imaging services in the United States. Through a nationwide network of fixed-site imaging centers and affiliated joint-venture locations, the company delivers a comprehensive suite of radiology services including MRI, CT, PET/CT, ultrasound, X-ray, mammography, bone densitometry, nuclear medicine and interventional radiology procedures. RadNet also offers teleradiology and imaging management solutions to physician practices, hospitals and healthcare systems.

Founded in 1981 and headquartered in Los Angeles, RadNet has expanded its footprint organically and through strategic acquisitions.