Handelsbanken Fonder AB Purchases 1,800 Shares of RadNet, Inc. (NASDAQ:RDNT)

Handelsbanken Fonder AB increased its position in RadNet, Inc. (NASDAQ:RDNT) by 11.9% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 16,900 shares of the medical research company’s stock after purchasing an additional 1,800 shares during the period. Handelsbanken Fonder AB’s holdings in RadNet were worth $1,180,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in RDNT. HighTower Advisors LLC boosted its holdings in shares of RadNet by 1.8% during the 3rd quarter. HighTower Advisors LLC now owns 7,861 shares of the medical research company’s stock valued at $545,000 after buying an additional 136 shares in the last quarter. Chartwell Investment Partners LLC boosted its stake in RadNet by 0.8% during the third quarter. Chartwell Investment Partners LLC now owns 24,883 shares of the medical research company’s stock worth $1,726,000 after acquiring an additional 193 shares in the last quarter. Highland Capital Management LLC grew its holdings in RadNet by 6.5% in the fourth quarter. Highland Capital Management LLC now owns 3,307 shares of the medical research company’s stock worth $231,000 after purchasing an additional 202 shares during the period. Virtue Capital Management LLC increased its stake in shares of RadNet by 1.4% during the third quarter. Virtue Capital Management LLC now owns 19,389 shares of the medical research company’s stock valued at $1,345,000 after purchasing an additional 264 shares in the last quarter. Finally, Crossmark Global Holdings Inc. lifted its holdings in shares of RadNet by 6.3% during the third quarter. Crossmark Global Holdings Inc. now owns 4,958 shares of the medical research company’s stock valued at $344,000 after purchasing an additional 296 shares during the last quarter. Institutional investors own 77.90% of the company’s stock.

RadNet Stock Performance

Shares of RDNT opened at $57.60 on Friday. The company has a market cap of $4.26 billion, a price-to-earnings ratio of -822.74 and a beta of 1.79. The business’s fifty day simple moving average is $66.05 and its two-hundred day simple moving average is $69.12. RadNet, Inc. has a 12 month low of $36.47 and a 12 month high of $93.65. 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 (NASDAQ:RDNT) last released its quarterly earnings data on Friday, February 28th. The medical research company reported $0.22 EPS for the quarter, topping the consensus estimate of $0.21 by $0.01. RadNet had a positive return on equity of 4.29% and a negative net margin of 0.25%. Research analysts anticipate that RadNet, Inc. will post 0.56 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

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

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.