Bessemer Group Inc. Acquires 40,745 Shares of RadNet, Inc. (NASDAQ:RDNT)

Bessemer Group Inc. raised its position in RadNet, Inc. (NASDAQ:RDNT - Free Report) by 12.8% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 358,093 shares of the medical research company's stock after purchasing an additional 40,745 shares during the quarter. Bessemer Group Inc. owned 0.48% of RadNet worth $17,804,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the company. Moran Wealth Management LLC raised its position in RadNet by 2.2% in the first quarter. Moran Wealth Management LLC now owns 10,643 shares of the medical research company's stock valued at $529,000 after purchasing an additional 225 shares during the last quarter. Wealth Enhancement Advisory Services LLC raised its stake in shares of RadNet by 28.6% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 6,945 shares of the medical research company's stock valued at $345,000 after acquiring an additional 1,545 shares during the last quarter. SG Americas Securities LLC raised its stake in shares of RadNet by 239.5% during the first quarter. SG Americas Securities LLC now owns 13,337 shares of the medical research company's stock valued at $663,000 after acquiring an additional 9,409 shares during the last quarter. GAMMA Investing LLC raised its stake in shares of RadNet by 22.3% during the first quarter. GAMMA Investing LLC now owns 1,644 shares of the medical research company's stock valued at $82,000 after acquiring an additional 300 shares during the last quarter. Finally, Harbor Capital Advisors Inc. raised its stake in shares of RadNet by 3.1% during the first quarter. Harbor Capital Advisors Inc. now owns 427,992 shares of the medical research company's stock valued at $21,280,000 after acquiring an additional 12,992 shares during the last quarter. 77.90% of the stock is currently owned by institutional investors.

Insider Transactions at RadNet

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

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the stock. Barclays dropped their price target 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. Raymond James Financial raised shares of RadNet from an "outperform" rating to a "strong-buy" rating and dropped their price target for the company from $85.00 to $65.00 in a research note on Wednesday, March 5th. Wall Street Zen raised shares of RadNet from a "sell" rating to a "hold" rating in a research note on Saturday, June 21st. B. Riley initiated coverage on shares of RadNet in a research note on Friday, June 13th. They set a "buy" rating and a $69.00 price target for the company. Finally, Truist Financial decreased their price objective on shares of RadNet from $88.00 to $74.00 and set a "buy" rating for the company in a research report on Friday, April 11th. One analyst has rated the stock with a hold rating, three have issued a buy rating and three have assigned a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Buy" and a consensus target price of $69.60.

RadNet Trading Down 1.6%

Shares of RDNT traded down $0.93 during trading hours on Friday, hitting $57.12. 1,047,316 shares of the stock were exchanged, compared to its average volume of 683,822. RadNet, Inc. has a fifty-two week low of $45.00 and a fifty-two week high of $93.65. The company has a debt-to-equity ratio of 0.87, a current ratio of 2.01 and a quick ratio of 2.01. The business has a 50-day moving average of $55.79 and a 200-day moving average of $59.03. The firm has a market capitalization of $4.29 billion, a P/E ratio of -132.83 and a beta of 1.43.

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.