SG Americas Securities LLC Purchases 9,409 Shares of RadNet, Inc. (NASDAQ:RDNT)

SG Americas Securities LLC grew its stake in shares of RadNet, Inc. (NASDAQ:RDNT - Free Report) by 239.5% in the first quarter, according to the company in its most recent filing with the SEC. The firm owned 13,337 shares of the medical research company's stock after acquiring an additional 9,409 shares during the quarter. SG Americas Securities LLC's holdings in RadNet were worth $663,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of RDNT. Rhumbline Advisers increased its stake in RadNet by 1.1% in the first quarter. Rhumbline Advisers now owns 175,776 shares of the medical research company's stock valued at $8,740,000 after acquiring an additional 1,895 shares during the last quarter. JPMorgan Chase & Co. boosted its holdings in shares of RadNet by 154.8% in the 4th quarter. JPMorgan Chase & Co. now owns 338,843 shares of the medical research company's stock valued at $23,665,000 after purchasing an additional 205,846 shares in the last quarter. Janus Henderson Group PLC increased its stake in shares of RadNet by 3.5% in the 4th 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. Smartleaf Asset Management LLC raised its holdings in shares of RadNet by 377.0% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,345 shares of the medical research company's stock worth $96,000 after buying an additional 1,063 shares in the last quarter. Finally, Vanguard Group Inc. raised its holdings in shares of RadNet by 1.0% during the 4th quarter. Vanguard Group Inc. now owns 7,425,218 shares of the medical research company's stock worth $518,577,000 after buying an additional 71,910 shares in the last quarter. 77.90% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

RDNT has been the topic of a number of research reports. 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 note on Monday, March 24th. B. Riley initiated coverage on RadNet in a research report on Friday, June 13th. They set a "buy" rating and a $69.00 price objective on the stock. Truist Financial dropped their target price on RadNet from $88.00 to $74.00 and set a "buy" rating for the company in a research report on Friday, April 11th. Raymond James Financial raised 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 research note on Wednesday, March 5th. Finally, Wall Street Zen raised RadNet from a "sell" rating to a "hold" rating in a research note on Saturday. One investment analyst has rated the stock with a hold rating, three have given a buy rating and three have issued a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Buy" and an average price target of $69.60.

RadNet Stock Up 0.6%

NASDAQ:RDNT traded up $0.32 on Wednesday, hitting $56.10. The stock had a trading volume of 468,462 shares, compared to its average volume of 682,171. RadNet, Inc. has a 1 year low of $45.00 and a 1 year high of $93.65. The firm's fifty day simple moving average is $55.63 and its two-hundred day simple moving average is $59.18. 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 stock has a market cap of $4.21 billion, a P/E ratio of -130.46 and a beta of 1.43.

Insider Buying and Selling at RadNet

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 now directly owns 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 on Thursday, May 15th. The shares were sold at an average price of $60.00, for a total transaction of $174,660.00. Following the transaction, the chief operating officer now directly owns 24,889 shares in the company, valued at approximately $1,493,340. This represents a 10.47% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 63,447 shares of company stock worth $3,613,220 over the last three months. 5.60% of the stock is currently owned by 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.