Neuberger Berman Group LLC Purchases 6,899 Shares of RadNet, Inc. (NASDAQ:RDNT)

Neuberger Berman Group LLC increased its position in RadNet, Inc. (NASDAQ:RDNT - Free Report) by 3.6% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 200,281 shares of the medical research company's stock after purchasing an additional 6,899 shares during the period. Neuberger Berman Group LLC owned 0.27% of RadNet worth $13,988,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of RDNT. Scotia Capital Inc. purchased a new stake in shares of RadNet during the 4th quarter worth $1,983,000. F M Investments LLC acquired a new position in shares of RadNet during the 4th quarter valued at about $3,795,000. CenterBook Partners LP purchased a new stake in shares of RadNet during the 4th quarter valued at $855,000. Raymond James Financial Inc. acquired a new position in RadNet during the fourth quarter valued at approximately $33,090,000. Finally, Renaissance Technologies LLC purchased a new position in RadNet in the fourth quarter valued at about $237,000. 77.90% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at RadNet

In related news, Director David L. Swartz sold 25,000 shares of the stock in a transaction on Friday, March 7th. The shares were sold at an average price of $50.84, for a total transaction of $1,271,000.00. Following the transaction, the director now directly owns 174,067 shares of the company's stock, valued at $8,849,566.28. This represents a 12.56 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Norman R. Hames sold 5,000 shares of the firm's stock in a transaction that occurred on Wednesday, March 19th. The shares were sold at an average price of $50.22, for a total value of $251,100.00. Following the completion of the sale, the chief operating officer now directly owns 251,959 shares of the company's stock, valued at $12,653,380.98. This trade represents a 1.95 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 38,000 shares of company stock valued at $1,926,730. 5.12% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on RDNT shares. Raymond James upgraded shares of RadNet from an "outperform" rating to a "strong-buy" rating and reduced their price objective for the company from $85.00 to $65.00 in a research note on Wednesday, March 5th. Jefferies Financial Group decreased their price objective on RadNet from $100.00 to $80.00 and set a "buy" rating for the company in a report on Wednesday, January 15th. Truist Financial decreased their price objective on shares of RadNet from $88.00 to $74.00 and set a "buy" rating for the company in a report on Friday, April 11th. StockNews.com upgraded shares of RadNet to a "sell" rating in a research report on Wednesday, March 19th. Finally, Barclays dropped their price target on RadNet from $74.00 to $60.00 and set an "overweight" rating on the stock in a research note on Monday, March 24th. One analyst has rated the stock with a sell rating, three have issued a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, RadNet presently has a consensus rating of "Buy" and a consensus target price of $69.75.

RadNet Price Performance

RDNT traded down $1.68 during trading on Wednesday, hitting $51.40. The company's stock had a trading volume of 922,048 shares, compared to its average volume of 654,570. The firm's 50 day moving average price is $53.71 and its two-hundred day moving average price is $65.45. 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, Inc. has a 12 month low of $45.00 and a 12 month high of $93.65. The stock has a market capitalization of $3.81 billion, a price-to-earnings ratio of -734.18 and a beta of 1.59.

RadNet (NASDAQ:RDNT - Get Free Report) last announced its quarterly earnings results on Thursday, February 27th. The medical research company reported $0.22 EPS for the quarter, beating analysts' consensus estimates of $0.21 by $0.01. RadNet had a positive return on equity of 4.29% and a negative net margin of 0.25%. The company had revenue of $477.10 million during the quarter, compared to analysts' expectations of $459.42 million. Sell-side analysts forecast that RadNet, Inc. will post 0.56 earnings per share for the current fiscal year.

About RadNet

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.