Man Group plc Purchases 16,686 Shares of RadNet, Inc. (NASDAQ:RDNT)

Man Group plc grew its position in RadNet, Inc. (NASDAQ:RDNT - Free Report) by 181.5% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 25,881 shares of the medical research company's stock after purchasing an additional 16,686 shares during the quarter. Man Group plc's holdings in RadNet were worth $1,808,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Nuveen Asset Management LLC grew its position in shares of RadNet by 23.3% in the fourth quarter. Nuveen Asset Management LLC now owns 640,303 shares of the medical research company's stock valued at $44,719,000 after purchasing an additional 121,026 shares during the last quarter. Occudo Quantitative Strategies LP acquired a new position in shares of RadNet in the fourth quarter valued at approximately $269,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in shares of RadNet by 4.0% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 37,642 shares of the medical research company's stock valued at $2,629,000 after purchasing an additional 1,452 shares during the last quarter. Janus Henderson Group PLC grew its position in shares of RadNet by 3.5% in the fourth quarter. Janus Henderson Group PLC now owns 31,436 shares of the medical research company's stock valued at $2,195,000 after purchasing an additional 1,049 shares during the last quarter. Finally, Fred Alger Management LLC acquired a new position in shares of RadNet in the fourth quarter valued at approximately $1,781,000. Institutional investors and hedge funds own 77.90% of the company's stock.

Insider Buying and Selling at RadNet

In other RadNet news, CEO Cornelis Wesdorp sold 2,000 shares of the firm's stock in a transaction on Wednesday, March 5th. The stock was sold at an average price of $52.58, for a total value of $105,160.00. Following the sale, the chief executive officer now owns 58,995 shares of the company's stock, valued at approximately $3,101,957.10. This trade represents a 3.28% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director David L. Swartz sold 25,000 shares of the firm's stock in a transaction on Friday, March 7th. The shares were sold at an average price of $50.84, for a total value of $1,271,000.00. Following the completion of the sale, the director now directly owns 174,067 shares in the company, valued at approximately $8,849,566.28. This represents a 12.56% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 46,447 shares of company stock valued at $2,433,550. 5.12% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

RDNT has been the topic of several research reports. Truist Financial decreased their target price on RadNet from $88.00 to $74.00 and set a "buy" rating on the stock in a research report on Friday, April 11th. Wall Street Zen downgraded RadNet from a "hold" rating to a "sell" rating in a research report on Thursday, May 22nd. Raymond James raised RadNet from an "outperform" rating to a "strong-buy" rating and reduced their price target for the stock from $85.00 to $65.00 in a research report on Wednesday, March 5th. Finally, Barclays reduced their price target on RadNet from $74.00 to $60.00 and set an "overweight" rating on the stock in a research report on Monday, March 24th. One 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.com, the stock presently has an average rating of "Buy" and a consensus price target of $69.75.

RadNet Price Performance

NASDAQ:RDNT traded up $0.07 during trading hours on Tuesday, reaching $56.68. 456,091 shares of the company were exchanged, compared to its average volume of 686,228. The company has a market capitalization of $4.25 billion, a P/E ratio of -809.60 and a beta of 1.46. RadNet, Inc. has a 1-year low of $45.00 and a 1-year high of $93.65. The company has a debt-to-equity ratio of 0.89, a current ratio of 2.16 and a quick ratio of 2.16. The business has a 50 day moving average of $52.93 and a 200 day moving average of $62.65.

RadNet (NASDAQ:RDNT - Get Free Report) last issued its earnings results on Thursday, February 27th. The medical research company reported $0.22 earnings per share for the quarter, beating analysts' consensus estimates of $0.21 by $0.01. The firm had revenue of $477.10 million for the quarter, compared to the consensus estimate of $459.42 million. RadNet had a positive return on equity of 4.29% and a negative net margin of 0.25%. Research analysts forecast that RadNet, Inc. will post 0.56 EPS for the current year.

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.