RadNet, Inc. (NASDAQ:RDNT) Stock Holdings Boosted by Man Group plc

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

Other large investors have also recently added to or reduced their stakes in the company. Highland Capital Management LLC boosted its stake in shares of RadNet by 6.5% during the 4th quarter. Highland Capital Management LLC now owns 3,307 shares of the medical research company's stock worth $231,000 after purchasing an additional 202 shares during the last quarter. Summit Investment Advisors Inc. boosted its stake in shares of RadNet by 3.3% during the 4th quarter. Summit Investment Advisors Inc. now owns 6,917 shares of the medical research company's stock worth $483,000 after purchasing an additional 219 shares during the last quarter. Summit Financial LLC boosted its stake in shares of RadNet by 2.4% during the 4th quarter. Summit Financial LLC now owns 11,111 shares of the medical research company's stock worth $776,000 after purchasing an additional 262 shares during the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd boosted its stake 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 purchasing an additional 302 shares during the last quarter. Finally, Fifth Third Bancorp boosted its stake in shares of RadNet by 84.3% during the 4th quarter. Fifth Third Bancorp now owns 667 shares of the medical research company's stock worth $47,000 after purchasing an additional 305 shares during the last quarter. 77.90% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the stock. Barclays decreased their target price on shares of RadNet from $74.00 to $60.00 and set an "overweight" rating on the stock in a research report on Monday, March 24th. Raymond James upgraded shares of RadNet from an "outperform" rating to a "strong-buy" rating and cut their price target for the company from $85.00 to $65.00 in a report on Wednesday, March 5th. Wall Street Zen lowered shares of RadNet from a "hold" rating to a "sell" rating in a report on Thursday, May 22nd. Finally, Truist Financial cut their price target on shares of RadNet from $88.00 to $74.00 and set a "buy" rating on the stock in a report on Friday, April 11th. One research analyst has rated the stock with a sell rating, three have given a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of "Buy" and an average target price of $69.75.

RadNet Stock Up 0.2%

Shares of RDNT traded up $0.13 during mid-day trading on Thursday, reaching $55.42. 57,612 shares of the stock traded hands, compared to its average volume of 684,137. The firm has a market cap of $4.16 billion, a price-to-earnings ratio of -791.53 and a beta of 1.46. The stock has a fifty day simple moving average of $53.19 and a 200 day simple moving average of $62.56. RadNet, Inc. has a 12-month low of $45.00 and a 12-month high of $93.65. 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 (NASDAQ:RDNT - Get Free Report) last posted its quarterly earnings data on Thursday, February 27th. The medical research company reported $0.22 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.21 by $0.01. RadNet had a negative net margin of 0.25% and a positive return on equity of 4.29%. The company had revenue of $477.10 million for the quarter, compared to analyst estimates of $459.42 million. Sell-side analysts expect that RadNet, Inc. will post 0.56 EPS for the current fiscal year.

Insider Transactions at RadNet

In other RadNet news, EVP Alma Gregory Sorensen sold 55,000 shares of RadNet stock in a transaction on Friday, May 23rd. The shares were 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 owns 1,160,509 shares of the company's stock, valued at $65,545,548.32. The trade was a 4.52% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, COO Norman R. Hames sold 5,000 shares of RadNet stock in a transaction on Monday, March 17th. The stock was sold at an average price of $49.79, for a total transaction of $248,950.00. Following the completion of the transaction, the chief operating officer now directly owns 261,959 shares of the company's stock, 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. Over the last quarter, insiders sold 101,447 shares of company stock valued at $5,539,950. 5.12% of the stock is currently owned by corporate insiders.

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.