TD Asset Management Inc Buys 23,212 Shares of RadNet, Inc. (NASDAQ:RDNT)

Key Points

• TD Asset Management Inc increased its stake in RadNet, Inc. by 77.9%, owning approximately 52,996 shares valued at $2.63 million after acquiring an additional 23,212 shares during the first quarter.
• Several other hedge funds also boosted their holdings in RadNet, with SG Americas Securities LLC increasing its position by a staggering 239.5%.
• Despite positive ratings from analysts, RadNet's executives have recently sold significant shares, with the COO selling 2,911 shares for $174,660 and an EVP selling 55,000 shares for over $3.1 million.

TD Asset Management Inc raised its holdings in RadNet, Inc. (NASDAQ:RDNT - Free Report) by 77.9% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 52,996 shares of the medical research company's stock after acquiring an additional 23,212 shares during the period. TD Asset Management Inc owned about 0.07% of RadNet worth $2,635,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of RDNT. Knights of Columbus Asset Advisors LLC raised its position in RadNet by 23.9% in the first quarter. Knights of Columbus Asset Advisors LLC now owns 43,935 shares of the medical research company's stock valued at $2,184,000 after purchasing an additional 8,463 shares during the last quarter. Royce & Associates LP boosted its position in RadNet by 24.1% during the 1st quarter. Royce & Associates LP now owns 126,549 shares of the medical research company's stock worth $6,292,000 after buying an additional 24,560 shares during the period. Brookwood Investment Group LLC bought a new stake in RadNet during the 1st quarter worth approximately $1,377,000. Legato Capital Management LLC increased its position in RadNet by 55.6% in the 1st quarter. Legato Capital Management LLC now owns 15,616 shares of the medical research company's stock valued at $776,000 after acquiring an additional 5,581 shares during the period. Finally, Universal Beteiligungs und Servicegesellschaft mbH bought a new position in shares of RadNet during the first quarter valued at $2,120,000. Institutional investors and hedge funds own 77.90% of the company's stock.

Analysts Set New Price Targets

A number of analysts recently weighed in on the company. Wall Street Zen lowered RadNet from a "hold" rating to a "sell" rating in a research report on Sunday, June 29th. B. Riley started coverage on RadNet in a research note on Friday, June 13th. They issued a "buy" rating and a $69.00 price target for the company. Finally, Truist Financial set a $74.00 target price on shares of RadNet in a research report on Thursday, July 10th. One equities research analyst has rated the stock with a sell rating, three have assigned a buy rating and three have issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Buy" and a consensus price target of $69.60.

RadNet Trading Up 2.0%

RDNT traded up $1.08 during trading on Monday, hitting $55.77. The company's stock had a trading volume of 372,483 shares, compared to its average volume of 789,542. The firm has a market capitalization of $4.18 billion, a P/E ratio of -129.69 and a beta of 1.43. RadNet, Inc. has a twelve month low of $45.00 and a twelve month high of $93.65. The company has a quick ratio of 2.01, a current ratio of 2.01 and a debt-to-equity ratio of 0.87. The stock's fifty day moving average price is $56.81 and its 200-day moving average price is $56.09.

Insiders Place Their Bets

In related news, EVP Alma Gregory Sorensen sold 55,000 shares of the business'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 completion of the sale, the executive vice president directly owned 1,160,509 shares of the company's stock, valued at $65,545,548.32. The trade was a 4.52% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, COO Norman R. Hames sold 5,536 shares of the stock in a transaction that occurred on Thursday, May 15th. The stock was sold at an average price of $60.00, for a total value of $332,160.00. Following the completion of the transaction, the chief operating officer owned 249,183 shares in the company, valued at approximately $14,950,980. The trade was a 2.17% 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 in the last quarter. 5.60% of the stock is owned by corporate insiders.

RadNet Company 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.