Allspring Global Investments Holdings LLC Grows Stock Position in RadNet, Inc. (NASDAQ:RDNT)

Allspring Global Investments Holdings LLC boosted its position in RadNet, Inc. (NASDAQ:RDNT - Free Report) by 14.4% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,689,275 shares of the medical research company's stock after purchasing an additional 213,280 shares during the period. Allspring Global Investments Holdings LLC owned approximately 2.28% of RadNet worth $85,511,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also modified their holdings of RDNT. GAMMA Investing LLC lifted its stake in shares of RadNet by 22.3% during the 1st quarter. GAMMA Investing LLC now owns 1,644 shares of the medical research company's stock worth $82,000 after acquiring an additional 300 shares during the last quarter. Smartleaf Asset Management LLC increased its stake in RadNet by 377.0% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,345 shares of the medical research company's stock worth $96,000 after purchasing an additional 1,063 shares during the period. Tower Research Capital LLC TRC lifted its position in shares of RadNet by 42.2% during the fourth quarter. Tower Research Capital LLC TRC now owns 1,422 shares of the medical research company's stock worth $99,000 after purchasing an additional 422 shares during the last quarter. Canada Pension Plan Investment Board bought a new position in shares of RadNet in the fourth quarter worth about $105,000. Finally, Twin Tree Management LP purchased a new position in RadNet in the 4th quarter worth about $106,000. Hedge funds and other institutional investors own 77.90% of the company's stock.

Insider Buying and Selling at RadNet

In other RadNet news, COO Norman R. Hames sold 5,536 shares of the stock in a transaction that occurred on Thursday, May 15th. The stock was sold at an average price of $60.00, for a total transaction of $332,160.00. Following the completion of the sale, the chief operating officer directly owned 249,183 shares of the company's stock, valued at approximately $14,950,980. This trade represents a 2.17% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Alma Gregory Sorensen sold 55,000 shares of the firm's stock in a transaction on Friday, May 23rd. The stock was sold at an average price of $56.48, for a total transaction of $3,106,400.00. Following the completion of the sale, the executive vice president owned 1,160,509 shares of the company's stock, valued at $65,545,548.32. This trade represents a 4.52% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 63,447 shares of company stock valued at $3,613,220. Company insiders own 5.60% of the company's stock.

Wall Street Analyst Weigh In

RDNT has been the topic of a number of research reports. Barclays reduced their target price on shares of RadNet from $74.00 to $60.00 and set an "overweight" rating on the stock in a research report on Monday, March 24th. Wall Street Zen cut RadNet from a "hold" rating to a "sell" rating in a report on Sunday. Raymond James Financial raised RadNet from an "outperform" rating to a "strong-buy" rating and dropped their price target for the stock from $85.00 to $65.00 in a research report on Wednesday, March 5th. B. Riley started coverage on RadNet in a report on Friday, June 13th. They issued a "buy" rating and a $69.00 price objective for the company. Finally, Truist Financial dropped their target price on shares of RadNet from $88.00 to $74.00 and set a "buy" rating on the stock in a report on Friday, April 11th. One analyst has rated the stock with a sell rating, three have assigned a buy rating and three have given a strong buy rating to the stock. According to data from MarketBeat.com, RadNet currently has an average rating of "Buy" and a consensus target price of $69.60.

RadNet Trading Up 0.1%

Shares of RDNT stock traded up $0.03 on Wednesday, hitting $55.65. 555,078 shares of the stock traded hands, compared to its average volume of 816,629. The company has a debt-to-equity ratio of 0.87, a quick ratio of 2.01 and a current ratio of 2.01. RadNet, Inc. has a twelve month low of $45.00 and a twelve month high of $93.65. The firm's 50-day moving average price is $56.28 and its two-hundred day moving average price is $58.42. The stock has a market capitalization of $4.18 billion, a PE ratio of -129.42 and a beta of 1.41.

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.