Segall Bryant & Hamill LLC raised its holdings in RadNet, Inc. (NASDAQ:RDNT - Free Report) by 28.2% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 265,043 shares of the medical research company's stock after acquiring an additional 58,240 shares during the quarter. Segall Bryant & Hamill LLC owned about 0.35% of RadNet worth $13,178,000 at the end of the most recent quarter.
Other institutional investors also recently modified their holdings of the company. GAMMA Investing LLC increased its holdings 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 period. Tower Research Capital LLC TRC grew its holdings in RadNet by 42.2% during the 4th quarter. Tower Research Capital LLC TRC now owns 1,422 shares of the medical research company's stock worth $99,000 after acquiring an additional 422 shares during the last quarter. Canada Pension Plan Investment Board bought a new stake in RadNet during the 4th quarter worth about $105,000. Twin Tree Management LP acquired a new position in RadNet during the 4th quarter valued at about $106,000. Finally, Aquatic Capital Management LLC acquired a new position in RadNet during the 4th quarter valued at about $187,000. Institutional investors own 77.90% of the company's stock.
RadNet Stock Performance
Shares of RDNT stock traded down $1.35 on Friday, hitting $57.49. 1,352,954 shares of the stock were exchanged, compared to its average volume of 689,569. The company has a current ratio of 2.01, a quick ratio of 2.01 and a debt-to-equity ratio of 0.87. The firm has a market capitalization of $4.31 billion, a PE ratio of -133.69 and a beta of 1.41. RadNet, Inc. has a one year low of $45.00 and a one year high of $93.65. The firm's 50 day moving average is $57.29 and its two-hundred day moving average is $56.87.
Insider Activity
In other 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 transaction of $3,106,400.00. Following the transaction, the executive vice president directly owned 1,160,509 shares in the company, valued at approximately $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 can be accessed through this link. Also, COO Norman R. Hames sold 2,911 shares of the stock in a transaction dated Thursday, May 15th. The shares were sold at an average price of $60.00, for a total value of $174,660.00. Following the transaction, the chief operating officer owned 24,889 shares in the company, valued at $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. In the last ninety days, insiders sold 63,447 shares of company stock worth $3,613,220. Insiders own 5.60% of the company's stock.
Analyst Upgrades and Downgrades
A number of analysts recently weighed in on RDNT shares. Barclays cut their price target 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. Truist Financial set a $74.00 target price on RadNet in a research report on Thursday, July 10th. Wall Street Zen lowered RadNet from a "hold" rating to a "sell" rating in a research note on Sunday, June 29th. Finally, B. Riley assumed coverage on RadNet in a research report on Friday, June 13th. They set a "buy" rating and a $69.00 target price on the stock. One investment analyst has rated the stock with a sell rating, three have assigned a buy rating and three have given a strong buy rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Buy" and an average target price of $69.60.
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RadNet Company Profile
(
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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