RadNet, Inc. (NASDAQ:RDNT) Shares Sold by Deutsche Bank AG

Deutsche Bank AG lessened its holdings in shares of RadNet, Inc. (NASDAQ:RDNT - Free Report) by 5.2% in the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 492,266 shares of the medical research company's stock after selling 26,790 shares during the quarter. Deutsche Bank AG owned 0.66% of RadNet worth $24,475,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently bought and sold shares of RDNT. Wells Fargo & Company MN boosted its holdings in RadNet by 29.4% in the 4th quarter. Wells Fargo & Company MN now owns 80,243 shares of the medical research company's stock worth $5,604,000 after acquiring an additional 18,231 shares during the period. Bank of Montreal Can boosted its holdings in RadNet by 13.6% in the 4th quarter. Bank of Montreal Can now owns 8,563 shares of the medical research company's stock worth $598,000 after acquiring an additional 1,026 shares during the period. Renaissance Technologies LLC purchased a new position in RadNet in the 4th quarter worth approximately $237,000. Raymond James Financial Inc. purchased a new position in RadNet in the 4th quarter worth approximately $33,090,000. Finally, Summit Investment Advisors Inc. boosted its holdings in RadNet by 3.3% in the 4th quarter. Summit Investment Advisors Inc. now owns 6,917 shares of the medical research company's stock worth $483,000 after acquiring an additional 219 shares during the period. Hedge funds and other institutional investors own 77.90% of the company's stock.

Insider Buying and Selling at RadNet

In other RadNet news, EVP David Jeffrey Katz sold 17,000 shares of the stock in a transaction on Wednesday, August 13th. The stock was sold at an average price of $68.31, for a total value of $1,161,270.00. Following the sale, the executive vice president directly owned 86,774 shares of the company's stock, valued at $5,927,531.94. This trade represents a 16.38% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Alma Gregory Sorensen sold 55,000 shares of the stock in a transaction on Friday, May 23rd. The stock was sold at an average price of $56.48, for a total value of $3,106,400.00. Following the completion of the sale, the executive vice president directly owned 1,160,509 shares in the company, valued at $65,545,548.32. This represents a 4.52% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 5.60% of the company's stock.

RadNet Stock Performance

RDNT traded down $1.30 during trading hours on Friday, hitting $67.45. 1,388,172 shares of the stock were exchanged, compared to its average volume of 995,100. The stock has a 50-day simple moving average of $57.37 and a 200-day simple moving average of $55.88. RadNet, Inc. has a 12 month low of $45.00 and a 12 month high of $93.65. The stock has a market cap of $5.19 billion, a price-to-earnings ratio of -337.23 and a beta of 1.43. The company has a debt-to-equity ratio of 0.91, a current ratio of 2.00 and a quick ratio of 2.01.

RadNet (NASDAQ:RDNT - Get Free Report) last announced its quarterly earnings data on Sunday, August 10th. The medical research company reported $0.31 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.17 by $0.14. RadNet had a positive return on equity of 2.41% and a negative net margin of 0.78%. The firm had revenue of $498.23 million for the quarter, compared to analysts' expectations of $488.06 million. During the same period last year, the business posted $0.16 earnings per share. The firm's revenue for the quarter was up 8.4% on a year-over-year basis. Analysts anticipate that RadNet, Inc. will post 0.56 earnings per share for the current year.

Analyst Ratings Changes

RDNT has been the subject of a number of analyst reports. Raymond James Financial restated a "strong-buy" rating and issued a $75.00 price target (up previously from $66.00) on shares of RadNet in a report on Wednesday. Wall Street Zen upgraded RadNet from a "sell" rating to a "hold" rating in a research note on Saturday. Morgan Stanley upgraded RadNet to an "overweight" rating in a research note on Monday, August 11th. B. Riley started coverage on RadNet in a research note on Friday, June 13th. They set a "buy" rating and a $69.00 target price for the company. Finally, Truist Financial set a $74.00 target price on RadNet in a research note on Thursday, July 10th. One analyst has rated the stock with a hold rating, four have given a buy rating and three have given a strong buy rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Buy" and a consensus price target of $71.60.

About RadNet

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.