RadNet, Inc. (NASDAQ:RDNT) Shares Acquired by E. Ohman J or Asset Management AB

E. Ohman J or Asset Management AB lifted its stake in shares of RadNet, Inc. (NASDAQ:RDNT - Free Report) by 17.1% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 36,258 shares of the medical research company's stock after acquiring an additional 5,300 shares during the quarter. E. Ohman J or Asset Management AB's holdings in RadNet were worth $1,803,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also modified their holdings of the stock. Summit Investment Advisors Inc. increased its position in shares of RadNet by 3.3% during the fourth 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. Summit Financial LLC increased its position in shares of RadNet by 2.4% during the fourth quarter. Summit Financial LLC now owns 11,111 shares of the medical research company's stock worth $776,000 after acquiring an additional 262 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd increased its position in shares of RadNet by 4.3% during the fourth quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 7,389 shares of the medical research company's stock worth $516,000 after acquiring an additional 302 shares during the period. Sanctuary Advisors LLC increased its position in shares of RadNet by 10.4% during the fourth quarter. Sanctuary Advisors LLC now owns 3,352 shares of the medical research company's stock worth $228,000 after acquiring an additional 316 shares during the period. Finally, Tower Research Capital LLC TRC increased 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 acquiring an additional 422 shares during the period. Hedge funds and other institutional investors own 77.90% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on RDNT. Raymond James raised RadNet from an "outperform" rating to a "strong-buy" rating and cut their price objective for the stock from $85.00 to $65.00 in a research report on Wednesday, March 5th. Wall Street Zen downgraded shares of RadNet from a "hold" rating to a "sell" rating in a research note on Thursday, May 22nd. Truist Financial lowered their target price on shares of RadNet from $88.00 to $74.00 and set a "buy" rating for the company in a research note on Friday, April 11th. Finally, Barclays lowered their target price 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. One equities research analyst has rated the stock with a sell rating, three have issued a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Buy" and an average target price of $69.75.

RadNet Stock Performance

RDNT traded up $0.22 on Tuesday, hitting $59.29. 553,458 shares of the company traded hands, compared to its average volume of 690,450. The company has a 50 day moving average of $54.51 and a 200-day moving average of $60.94. The company has a quick ratio of 2.16, a current ratio of 2.16 and a debt-to-equity ratio of 0.89. The stock has a market capitalization of $4.45 billion, a PE ratio of -846.88 and a beta of 1.43. RadNet, Inc. has a 12-month low of $45.00 and a 12-month high of $93.65.

Insider Transactions at RadNet

In related news, EVP Alma Gregory Sorensen sold 55,000 shares of the company's stock in a transaction that occurred 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 sale, the executive vice president now owns 1,160,509 shares in the company, valued at $65,545,548.32. This represents a 4.52% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, COO Norman R. Hames sold 5,000 shares of the company's stock in a transaction that occurred on Monday, March 17th. The stock was sold at an average price of $49.79, for a total value of $248,950.00. Following the completion of the sale, the chief operating officer now owns 261,959 shares in the company, valued at approximately $13,042,938.61. This represents a 1.87% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 73,447 shares of company stock valued at $4,113,270. Corporate insiders own 5.60% of the company's stock.

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.