RadNet, Inc. (NASDAQ:RDNT) Shares Bought by Bessemer Group Inc.

Bessemer Group Inc. grew its stake in shares of RadNet, Inc. (NASDAQ:RDNT - Free Report) by 12.8% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 358,093 shares of the medical research company's stock after acquiring an additional 40,745 shares during the quarter. Bessemer Group Inc. owned about 0.48% of RadNet worth $17,804,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of RDNT. Norges Bank acquired a new position in RadNet in the fourth quarter valued at $56,381,000. Raymond James Financial Inc. acquired a new stake in shares of RadNet during the fourth quarter valued at about $33,090,000. T. Rowe Price Investment Management Inc. increased its position in shares of RadNet by 79.3% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 913,691 shares of the medical research company's stock worth $63,813,000 after acquiring an additional 404,241 shares during the last quarter. Tidal Investments LLC lifted its stake in shares of RadNet by 7,219.2% in the fourth quarter. Tidal Investments LLC now owns 389,308 shares of the medical research company's stock worth $27,189,000 after acquiring an additional 383,989 shares in the last quarter. Finally, Alyeska Investment Group L.P. lifted its stake in shares of RadNet by 108.6% in the fourth quarter. Alyeska Investment Group L.P. now owns 502,612 shares of the medical research company's stock worth $35,102,000 after acquiring an additional 261,711 shares in the last quarter. 77.90% of the stock is currently owned by hedge funds and other institutional investors.

RadNet Stock Performance

Shares of NASDAQ:RDNT traded down $0.21 on Monday, reaching $56.91. 777,225 shares of the company's stock were exchanged, compared to its average volume of 680,608. The business's 50-day moving average is $56.13 and its two-hundred day moving average is $58.44. The company has a quick ratio of 2.01, a current ratio of 2.01 and a debt-to-equity ratio of 0.87. RadNet, Inc. has a fifty-two week low of $45.00 and a fifty-two week high of $93.65. The firm has a market capitalization of $4.27 billion, a price-to-earnings ratio of -132.35 and a beta of 1.43.

Analyst Ratings Changes

Several research firms have issued reports on RDNT. Wall Street Zen downgraded RadNet from a "hold" rating to a "sell" rating in a report on Sunday. B. Riley started coverage on shares of RadNet in a research note on Friday, June 13th. They issued a "buy" rating and a $69.00 price target for the company. Truist Financial cut their price target 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. Barclays decreased their price objective on shares of RadNet from $74.00 to $60.00 and set an "overweight" rating for the company in a report on Monday, March 24th. Finally, Raymond James Financial upgraded shares of RadNet from an "outperform" rating to a "strong-buy" rating and cut their target price for the company from $85.00 to $65.00 in a research note on Wednesday, March 5th. One equities research analyst has rated the stock with a sell rating, three have assigned a buy rating and three have assigned a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of "Buy" and an average target price of $69.60.

Insider Buying and Selling at RadNet

In other RadNet news, COO Norman R. Hames sold 2,911 shares of the business's stock in a transaction dated Thursday, May 15th. The shares were sold at an average price of $60.00, for a total transaction of $174,660.00. Following the completion of the transaction, the chief operating officer directly owned 24,889 shares of the company's stock, valued at $1,493,340. The trade was a 10.47% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Alma Gregory Sorensen sold 55,000 shares of RadNet stock in a transaction that occurred on Friday, May 23rd. The shares were sold at an average price of $56.48, for a total value of $3,106,400.00. Following the sale, the executive vice president directly owned 1,160,509 shares in the company, valued at approximately $65,545,548.32. This trade represents a 4.52% decrease in their position. The disclosure for this sale can be found here. Insiders sold 63,447 shares of company stock worth $3,613,220 over the last ninety days. 5.60% of the stock is owned by corporate insiders.

RadNet Company 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.