Deutsche Bank AG Purchases 26,225 Shares of RadNet, Inc. (NASDAQ:RDNT)

Deutsche Bank AG lifted its holdings in shares of RadNet, Inc. (NASDAQ:RDNT - Free Report) by 5.3% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 519,056 shares of the medical research company's stock after acquiring an additional 26,225 shares during the period. Deutsche Bank AG owned approximately 0.70% of RadNet worth $36,251,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Centiva Capital LP purchased a new stake in shares of RadNet in the fourth quarter worth about $578,000. Bayesian Capital Management LP purchased a new position in RadNet in the 4th quarter worth approximately $319,000. Alyeska Investment Group L.P. boosted its position in shares of RadNet by 108.6% during the 4th quarter. Alyeska Investment Group L.P. now owns 502,612 shares of the medical research company's stock worth $35,102,000 after purchasing an additional 261,711 shares during the period. Northern Trust Corp grew its stake in shares of RadNet by 16.5% during the fourth quarter. Northern Trust Corp now owns 772,088 shares of the medical research company's stock worth $53,923,000 after purchasing an additional 109,093 shares in the last quarter. Finally, NewGen Asset Management Ltd raised its position in RadNet by 48.6% in the 4th quarter. NewGen Asset Management Ltd now owns 43,200 shares of the medical research company's stock valued at $3,017,000 after purchasing an additional 14,130 shares during the last quarter. Institutional investors own 77.90% of the company's stock.

Analysts Set New Price Targets

Several brokerages recently commented on RDNT. StockNews.com raised shares of RadNet to a "sell" rating in a research report on Monday, May 12th. Truist Financial decreased their price target 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. Raymond James raised 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. Finally, Barclays decreased their price target on RadNet from $74.00 to $60.00 and set an "overweight" rating on the stock in a research report on Monday, March 24th. One investment analyst has rated the stock with a sell rating, three have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, RadNet currently has a consensus rating of "Buy" and a consensus price target of $69.75.

RadNet Stock Down 2.0%

NASDAQ:RDNT traded down $1.22 during midday trading on Monday, reaching $59.93. The company had a trading volume of 65,204 shares, compared to its average volume of 681,994. The firm has a market capitalization of $4.50 billion, a price-to-earnings ratio of -858.23 and a beta of 1.46. The stock's fifty day simple moving average is $51.71 and its 200-day simple moving average is $63.13. The company has a current ratio of 2.16, a quick 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.

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

Insider Buying and Selling

In other news, CEO Cornelis Wesdorp sold 1,000 shares of the company's stock in a transaction dated Friday, March 7th. The shares were sold at an average price of $50.52, for a total value of $50,520.00. Following the sale, the chief executive officer now directly owns 55,995 shares of the company's stock, valued at $2,828,867.40. This represents a 1.75% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director David L. Swartz sold 25,000 shares of the firm's stock in a transaction that occurred on Friday, March 7th. The shares were sold at an average price of $50.84, for a total value of $1,271,000.00. Following the transaction, the director now owns 174,067 shares of the company's stock, valued at $8,849,566.28. This represents a 12.56% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 46,447 shares of company stock worth $2,433,550 in the last 90 days. Insiders own 5.12% of the company's stock.

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.