Allspring Global Investments Holdings LLC Has $14.53 Million Stock Holdings in RadNet, Inc. (NASDAQ:RDNT)

Allspring Global Investments Holdings LLC trimmed its position in RadNet, Inc. (NASDAQ:RDNT - Free Report) by 19.2% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 417,775 shares of the medical research company's stock after selling 99,270 shares during the quarter. Allspring Global Investments Holdings LLC owned approximately 0.61% of RadNet worth $14,526,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Raymond James Financial Services Advisors Inc. increased its stake in RadNet by 38.2% in the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 15,727 shares of the medical research company's stock valued at $547,000 after purchasing an additional 4,350 shares during the period. Vanguard Group Inc. boosted its holdings in RadNet by 3.5% during the third quarter. Vanguard Group Inc. now owns 4,222,234 shares of the medical research company's stock worth $119,025,000 after buying an additional 143,295 shares in the last quarter. Teachers Retirement System of The State of Kentucky boosted its holdings in RadNet by 273.3% during the third quarter. Teachers Retirement System of The State of Kentucky now owns 59,175 shares of the medical research company's stock worth $1,668,000 after buying an additional 43,324 shares in the last quarter. Wellington Management Group LLP acquired a new position in RadNet during the third quarter worth about $17,534,000. Finally, Comerica Bank acquired a new position in RadNet during the third quarter worth about $785,000. 77.90% of the stock is currently owned by institutional investors and hedge funds.

RadNet Trading Up 0.2 %

RDNT traded up $0.08 during trading on Tuesday, hitting $47.89. 442,229 shares of the company's stock were exchanged, compared to its average volume of 529,113. The company has a current ratio of 1.32, a quick ratio of 1.32 and a debt-to-equity ratio of 1.00. RadNet, Inc. has a 1 year low of $25.11 and a 1 year high of $49.94. The stock has a 50 day moving average price of $43.94 and a 200 day moving average price of $36.86. The firm has a market cap of $3.28 billion, a P/E ratio of -2,393.30 and a beta of 1.69.

RadNet (NASDAQ:RDNT - Get Free Report) last released its quarterly earnings data on Friday, March 1st. The medical research company reported $0.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.11 by $0.09. RadNet had a net margin of 0.19% and a return on equity of 4.72%. The company had revenue of $420.38 million during the quarter, compared to the consensus estimate of $410.11 million. During the same period in the previous year, the firm earned $0.11 earnings per share. RadNet's revenue for the quarter was up 9.5% on a year-over-year basis. As a group, analysts expect that RadNet, Inc. will post 0.35 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

RDNT has been the subject of a number of analyst reports. Truist Financial reissued a "buy" rating and issued a $55.00 price objective (up previously from $51.00) on shares of RadNet in a research report on Thursday, March 28th. StockNews.com lowered shares of RadNet from a "hold" rating to a "sell" rating in a research report on Thursday, April 11th. Jefferies Financial Group boosted their price objective on shares of RadNet from $47.00 to $58.00 and gave the company a "buy" rating in a research report on Friday, March 22nd. Finally, Barclays initiated coverage on shares of RadNet in a research report on Wednesday, March 6th. They set an "equal weight" rating and a $48.00 price target for the company.

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.