RadNet, Inc. (NASDAQ:RDNT) Shares Bought by Sumitomo Mitsui DS Asset Management Company Ltd

Sumitomo Mitsui DS Asset Management Company Ltd raised its holdings in shares of RadNet, Inc. (NASDAQ:RDNTFree Report) by 4.3% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 7,389 shares of the medical research company’s stock after purchasing an additional 302 shares during the quarter. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in RadNet were worth $516,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Lisanti Capital Growth LLC purchased a new stake in shares of RadNet during the third quarter worth $2,922,000. Franklin Resources Inc. grew its holdings in shares of RadNet by 12.0% during the third quarter. Franklin Resources Inc. now owns 387,061 shares of the medical research company’s stock worth $27,334,000 after buying an additional 41,381 shares in the last quarter. KBC Group NV grew its holdings in shares of RadNet by 47.6% in the fourth quarter. KBC Group NV now owns 2,678 shares of the medical research company’s stock valued at $187,000 after purchasing an additional 864 shares during the period. Pathstone Holdings LLC grew its holdings in shares of RadNet by 58.5% in the third quarter. Pathstone Holdings LLC now owns 27,503 shares of the medical research company’s stock valued at $1,908,000 after purchasing an additional 10,151 shares during the period. Finally, JPMorgan Chase & Co. grew its holdings in shares of RadNet by 1.4% in the third quarter. JPMorgan Chase & Co. now owns 132,997 shares of the medical research company’s stock valued at $9,229,000 after purchasing an additional 1,838 shares during the period. Hedge funds and other institutional investors own 77.90% of the company’s stock.

Wall Street Analysts Forecast Growth

RDNT has been the subject of a number of analyst reports. Barclays dropped their price objective on shares of RadNet from $85.00 to $74.00 and set an “overweight” rating for the company in a report on Wednesday, January 22nd. Truist Financial reissued a “buy” rating and issued a $88.00 price objective (down previously from $94.00) on shares of RadNet in a report on Wednesday, January 22nd. Finally, Jefferies Financial Group dropped their price objective on shares of RadNet from $100.00 to $80.00 and set a “buy” rating for the company in a report on Wednesday, January 15th. One research analyst has rated the stock with a sell rating, four have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $75.50.

Get Our Latest Analysis on RadNet

Insider Buying and Selling at RadNet

In other news, insider Ranjan Jayanathan sold 38,557 shares of the stock in a transaction dated Tuesday, November 19th. The shares were sold at an average price of $80.00, for a total transaction of $3,084,560.00. Following the sale, the insider now owns 192,724 shares of the company’s stock, valued at approximately $15,417,920. This represents a 16.67 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP David Jeffrey Katz sold 12,300 shares of the stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $81.65, for a total transaction of $1,004,295.00. Following the sale, the executive vice president now directly owns 62,909 shares in the company, valued at $5,136,519.85. This represents a 16.35 % decrease in their position. The disclosure for this sale can be found here. 5.12% of the stock is currently owned by corporate insiders.

RadNet Trading Up 0.4 %

NASDAQ RDNT opened at $62.05 on Thursday. The firm’s 50-day moving average is $69.84 and its two-hundred day moving average is $69.02. RadNet, Inc. has a 12 month low of $36.47 and a 12 month high of $93.65. The company has a debt-to-equity ratio of 0.89, a current ratio of 2.16 and a quick ratio of 2.16. The stock has a market capitalization of $4.59 billion, a P/E ratio of -886.30 and a beta of 1.79.

About RadNet

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for RadNet (NASDAQ:RDNT)

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