B. Metzler seel. Sohn & Co. AG Takes Position in RadNet, Inc. $RDNT

B. Metzler seel. Sohn & Co. AG purchased a new position in shares of RadNet, Inc. (NASDAQ:RDNT - Free Report) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 29,748 shares of the medical research company's stock, valued at approximately $1,835,000.

Other large investors have also modified their holdings of the company. BlackRock Inc. bought a new stake in RadNet during the 2nd quarter valued at $675,768,000. RTW Investments LP lifted its stake in shares of RadNet by 39.9% in the 4th quarter. RTW Investments LP now owns 3,938,500 shares of the medical research company's stock worth $281,012,000 after acquiring an additional 1,122,956 shares during the period. Polar Capital Holdings Plc bought a new position in shares of RadNet in the third quarter valued at approximately $63,423,000. Price T Rowe Associates Inc. MD boosted its holdings in shares of RadNet by 30.3% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 2,699,082 shares of the medical research company's stock valued at $192,581,000 after acquiring an additional 627,936 shares in the last quarter. Finally, Ameriprise Financial Inc. increased its stake in shares of RadNet by 79.7% during the second quarter. Ameriprise Financial Inc. now owns 1,394,552 shares of the medical research company's stock valued at $79,364,000 after acquiring an additional 618,392 shares during the period. Institutional investors and hedge funds own 77.90% of the company's stock.

Insider Buying and Selling at RadNet

In other news, Director David L. Swartz sold 2,699 shares of the company's stock in a transaction that occurred on Thursday, June 18th. The stock was sold at an average price of $53.89, for a total transaction of $145,449.11. Following the completion of the transaction, the director directly owned 177,013 shares in the company, valued at $9,539,230.57. The trade was a 1.50% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Cornelis Wesdorp sold 4,750 shares of the stock in a transaction that occurred on Tuesday, June 16th. The shares were sold at an average price of $58.11, for a total value of $276,022.50. Following the completion of the sale, the chief executive officer directly owned 69,075 shares of the company's stock, valued at $4,013,948.25. This represents a 6.43% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 5.14% of the stock is currently owned by corporate insiders.

RadNet Trading Down 0.3%

NASDAQ:RDNT opened at $76.82 on Friday. The company has a market capitalization of $6.05 billion, a P/E ratio of -284.51 and a beta of 1.36. The stock's 50 day moving average price is $65.23 and its 200 day moving average price is $62.04. The company has a debt-to-equity ratio of 0.94, a quick ratio of 1.48 and a current ratio of 1.48. RadNet, Inc. has a 52 week low of $50.82 and a 52 week high of $85.84.

RadNet (NASDAQ:RDNT - Get Free Report) last released its quarterly earnings results on Monday, August 10th. The medical research company reported $0.29 earnings per share for the quarter, beating analysts' consensus estimates of $0.20 by $0.09. The business had revenue of $622.72 million for the quarter, compared to the consensus estimate of $610.87 million. RadNet had a negative net margin of 0.93% and a positive return on equity of 2.61%. RadNet's revenue for the quarter was up 25.0% on a year-over-year basis. During the same quarter last year, the firm earned $0.31 EPS. On average, research analysts forecast that RadNet, Inc. will post 0.49 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the stock. Jefferies Financial Group reaffirmed a "buy" rating on shares of RadNet in a research note on Friday, July 31st. Weiss Ratings restated a "sell (d-)" rating on shares of RadNet in a report on Friday, August 7th. Barclays reduced their target price on RadNet from $70.00 to $65.00 and set an "overweight" rating for the company in a report on Wednesday, May 20th. Truist Financial boosted their price objective on RadNet from $90.00 to $94.00 and gave the stock a "buy" rating in a report on Tuesday, August 11th. Finally, Zacks Research raised shares of RadNet from a "strong sell" rating to a "hold" rating in a research note on Thursday, August 13th. Two analysts have rated the stock with a Strong Buy rating, five have given a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, RadNet has a consensus rating of "Moderate Buy" and an average target price of $88.00.

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.

Want to see what other hedge funds are holding RDNT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for RadNet, Inc. (NASDAQ:RDNT - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source