Knights of Columbus Asset Advisors LLC Has $2.18 Million Stock Position in RadNet, Inc. (NASDAQ:RDNT)

Key Points

• Knights of Columbus Asset Advisors LLC increased its position in RadNet, Inc. by 23.9%, holding a total of 43,935 shares worth approximately $2.18 million as of their latest SEC filing.
• Insider selling at RadNet included Executive VP Alma Gregory Sorensen, who sold 55,000 shares for over $3.1 million, resulting in a 4.52% decrease in her ownership.
• Analysts have mixed ratings for RadNet, with targets ranging from $69.00 to $74.00, as the company has a consensus rating of "Buy" despite some analysts downgrading to a "sell" rating.

Knights of Columbus Asset Advisors LLC boosted its holdings in shares of RadNet, Inc. (NASDAQ:RDNT - Free Report) by 23.9% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 43,935 shares of the medical research company's stock after buying an additional 8,463 shares during the period. Knights of Columbus Asset Advisors LLC owned approximately 0.06% of RadNet worth $2,184,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently bought and sold shares of RDNT. GAMMA Investing LLC increased its position in RadNet by 22.3% in the 1st quarter. GAMMA Investing LLC now owns 1,644 shares of the medical research company's stock worth $82,000 after purchasing an additional 300 shares during the last quarter. Tower Research Capital LLC TRC increased its position in RadNet by 42.2% in the 4th quarter. Tower Research Capital LLC TRC now owns 1,422 shares of the medical research company's stock worth $99,000 after purchasing an additional 422 shares during the last quarter. Canada Pension Plan Investment Board acquired a new position in RadNet in the 4th quarter worth about $105,000. Aquatic Capital Management LLC acquired a new position in RadNet in the 4th quarter worth about $187,000. Finally, Highland Capital Management LLC increased its position in RadNet by 24.8% in the 1st quarter. Highland Capital Management LLC now owns 4,128 shares of the medical research company's stock worth $205,000 after purchasing an additional 821 shares during the last quarter. 77.90% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at RadNet

In related news, EVP Alma Gregory Sorensen sold 55,000 shares of the stock in a transaction that occurred on Friday, May 23rd. The stock was sold at an average price of $56.48, for a total transaction of $3,106,400.00. Following the completion of the sale, the executive vice president owned 1,160,509 shares in the company, valued at $65,545,548.32. This represents a 4.52% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, COO Norman R. Hames sold 5,536 shares of the stock in a transaction that occurred on Thursday, May 15th. The shares were sold at an average price of $60.00, for a total value of $332,160.00. Following the sale, the chief operating officer owned 249,183 shares of the company's stock, valued at approximately $14,950,980. The trade was a 2.17% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 63,447 shares of company stock worth $3,613,220. 5.60% of the stock is currently owned by insiders.

Analysts Set New Price Targets

RDNT has been the topic of several research reports. Truist Financial set a $74.00 target price on RadNet in a research report on Thursday, July 10th. B. Riley started coverage on RadNet in a research report on Friday, June 13th. They issued a "buy" rating and a $69.00 target price on the stock. Finally, Wall Street Zen lowered RadNet from a "hold" rating to a "sell" rating in a report on Sunday, June 29th. One equities research analyst has rated the stock with a sell rating, three have issued a buy rating and three have issued a strong buy rating to the company's stock. According to MarketBeat.com, RadNet has a consensus rating of "Buy" and an average price target of $69.60.

RadNet Stock Performance

Shares of NASDAQ RDNT opened at $57.41 on Friday. The company has a debt-to-equity ratio of 0.87, a quick ratio of 2.01 and a current ratio of 2.01. The firm has a market cap of $4.31 billion, a price-to-earnings ratio of -133.51 and a beta of 1.41. The business's 50-day simple moving average is $57.04 and its 200-day simple moving average is $56.57. RadNet, Inc. has a 52 week low of $45.00 and a 52 week high of $93.65.

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.

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