E. Ohman J or Asset Management AB Buys 5,300 Shares of RadNet, Inc. (NASDAQ:RDNT)

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 the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 36,258 shares of the medical research company's stock after purchasing an additional 5,300 shares during the period. E. Ohman J or Asset Management AB's holdings in RadNet were worth $1,803,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in RDNT. Sumitomo Mitsui DS Asset Management Company Ltd increased its holdings in shares of RadNet by 4.3% during the 4th 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 last quarter. WCM Investment Management LLC acquired a new position in shares of RadNet during the 4th quarter worth approximately $14,110,000. Allspring Global Investments Holdings LLC increased its holdings in shares of RadNet by 30.4% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 1,475,995 shares of the medical research company's stock worth $103,532,000 after acquiring an additional 344,146 shares during the last quarter. Legato Capital Management LLC increased its holdings in shares of RadNet by 40.1% during the 4th quarter. Legato Capital Management LLC now owns 10,035 shares of the medical research company's stock worth $701,000 after acquiring an additional 2,870 shares during the last quarter. Finally, Sanctuary Advisors LLC increased its holdings in shares of RadNet by 10.4% during the 4th 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 last quarter. 77.90% of the stock is owned by institutional investors and hedge funds.

Insider Activity at RadNet

In other RadNet news, EVP Alma Gregory Sorensen sold 55,000 shares of the stock in a transaction dated 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 transaction, the executive vice president now directly owns 1,160,509 shares in the company, valued at approximately $65,545,548.32. This trade represents a 4.52% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Norman R. Hames sold 5,000 shares of the firm's stock in a transaction dated Wednesday, March 19th. The stock was sold at an average price of $50.22, for a total value of $251,100.00. Following the transaction, the chief operating officer now owns 251,959 shares of the company's stock, valued at $12,653,380.98. This trade represents a 1.95% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 73,447 shares of company stock valued at $4,113,270 over the last ninety days. 5.60% of the stock is owned by corporate insiders.

RadNet Stock Performance

NASDAQ:RDNT opened at $58.65 on Friday. The stock's 50-day simple moving average is $54.19 and its 200 day simple moving average is $61.40. The firm has a market capitalization of $4.40 billion, a PE ratio of -837.74 and a beta of 1.43. The company has a quick ratio of 2.16, a current ratio of 2.16 and a debt-to-equity ratio of 0.89. RadNet, Inc. has a twelve month low of $45.00 and a twelve month high of $93.65.

Analyst Ratings Changes

RDNT has been the topic of a number of research reports. Truist Financial decreased their price objective on 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 RadNet from $74.00 to $60.00 and set an "overweight" rating on the stock in a report on Monday, March 24th. Wall Street Zen downgraded RadNet from a "hold" rating to a "sell" rating in a research report on Thursday, May 22nd. Finally, Raymond James upgraded 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 report on Wednesday, March 5th. One investment analyst has rated the stock with a sell rating, three have assigned a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Buy" and a consensus price target of $69.75.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.