Legato Capital Management LLC grew its stake in RadNet, Inc. (NASDAQ:RDNT - Free Report) by 55.6% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 15,616 shares of the medical research company's stock after purchasing an additional 5,581 shares during the period. Legato Capital Management LLC's holdings in RadNet were worth $776,000 at the end of the most recent quarter.
Other hedge funds have also bought and sold shares of the company. Rhumbline Advisers lifted its position in shares of RadNet by 1.1% during the 1st quarter. Rhumbline Advisers now owns 175,776 shares of the medical research company's stock valued at $8,740,000 after buying an additional 1,895 shares in the last quarter. GAMMA Investing LLC increased its position in shares of RadNet by 22.3% during 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. Wealth Enhancement Advisory Services LLC boosted its holdings in RadNet by 28.6% during the 1st 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 period. SG Americas Securities LLC boosted its holdings in RadNet by 239.5% during the 1st 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 period. Finally, Envestnet Asset Management Inc. boosted its stake in shares of RadNet by 50.3% in the 1st quarter. Envestnet Asset Management Inc. now owns 137,870 shares of the medical research company's stock valued at $6,855,000 after buying an additional 46,169 shares during the period. Hedge funds and other institutional investors own 77.90% of the company's stock.
Analyst Ratings Changes
Several brokerages have recently weighed in on RDNT. Wall Street Zen lowered RadNet from a "hold" rating to a "sell" rating in a research report on Sunday, June 29th. Truist Financial set a $74.00 target price on RadNet in a report on Thursday, July 10th. Finally, B. Riley assumed coverage on RadNet in a report on Friday, June 13th. They set a "buy" rating and a $69.00 price objective on the stock. One investment analyst has rated the stock with a sell rating, three have given a buy rating and three have issued a strong buy rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Buy" and an average price target of $69.60.
Read Our Latest Report on RDNT
RadNet Price Performance
Shares of NASDAQ:RDNT traded up $1.42 on Friday, hitting $57.41. The company had a trading volume of 487,475 shares, compared to its average volume of 651,350. The company has a current ratio of 2.01, a quick ratio of 2.01 and a debt-to-equity ratio of 0.87. RadNet, Inc. has a 52-week low of $45.00 and a 52-week high of $93.65. The business has a 50 day moving average of $57.12 and a 200 day moving average of $56.68. The company has a market cap of $4.31 billion, a PE ratio of -133.51 and a beta of 1.41.
Insider Buying and Selling at RadNet
In other news, EVP Alma Gregory Sorensen sold 55,000 shares of the firm's 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 transaction, the executive vice president directly owned 1,160,509 shares in the company, valued at $65,545,548.32. This trade represents a 4.52% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, COO Norman R. Hames sold 2,911 shares of the firm's stock in a transaction dated Thursday, May 15th. The stock was sold at an average price of $60.00, for a total value of $174,660.00. Following the completion of the transaction, the chief operating officer owned 24,889 shares in the company, valued at approximately $1,493,340. This trade represents a 10.47% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 63,447 shares of company stock worth $3,613,220 over the last 90 days. Company insiders own 5.60% of the company's stock.
About RadNet
(
Free Report)
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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