13,100 Shares in RadNet, Inc. (NASDAQ:RDNT) Acquired by KLP Kapitalforvaltning AS

KLP Kapitalforvaltning AS purchased a new stake in RadNet, Inc. (NASDAQ:RDNT) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 13,100 shares of the medical research company’s stock, valued at approximately $915,000.

A number of other institutional investors and hedge funds also recently modified their holdings of RDNT. The Manufacturers Life Insurance Company lifted its holdings in shares of RadNet by 3.5% during the third quarter. The Manufacturers Life Insurance Company now owns 38,796 shares of the medical research company’s stock valued at $2,692,000 after purchasing an additional 1,323 shares during the last quarter. D.A. Davidson & CO. purchased a new stake in RadNet during the third quarter valued at about $208,000. FMR LLC increased its position in shares of RadNet by 0.3% in the third quarter. FMR LLC now owns 701,396 shares of the medical research company’s stock worth $48,670,000 after acquiring an additional 2,242 shares in the last quarter. BNP Paribas Financial Markets raised its holdings in shares of RadNet by 128.2% during the third quarter. BNP Paribas Financial Markets now owns 15,447 shares of the medical research company’s stock valued at $1,072,000 after acquiring an additional 8,677 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of RadNet by 33.6% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 17,244 shares of the medical research company’s stock valued at $1,197,000 after acquiring an additional 4,332 shares in the last quarter. Institutional investors and hedge funds own 77.90% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have weighed in on the stock. Truist Financial reiterated a “buy” rating and set a $88.00 price objective (down from $94.00) on shares of RadNet in a research report on Wednesday, January 22nd. Barclays dropped 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. Raymond James raised RadNet from an “outperform” rating to a “strong-buy” rating and lowered their target price for the company from $85.00 to $65.00 in a research note on Wednesday, March 5th. Jefferies Financial Group reduced their price target on shares of RadNet from $100.00 to $80.00 and set a “buy” rating for the company in a research report on Wednesday, January 15th. Finally, StockNews.com raised shares of RadNet to a “sell” rating in a research report on Wednesday, March 19th. One research analyst has rated the stock with a sell rating, three have assigned a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus target price of $73.25.

RadNet Stock Up 0.6 %

RDNT opened at $49.72 on Tuesday. The company has a market capitalization of $3.68 billion, a PE ratio of -710.18 and a beta of 1.85. The company has a debt-to-equity ratio of 0.89, a current ratio of 2.16 and a quick ratio of 2.16. RadNet, Inc. has a fifty-two week low of $45.82 and a fifty-two week high of $93.65. The business has a 50-day moving average of $57.35 and a 200-day moving average of $67.01.

RadNet (NASDAQ:RDNT) last issued its quarterly earnings data on Thursday, February 27th. The medical research company reported $0.22 earnings per share for the quarter, beating the consensus estimate of $0.21 by $0.01. The firm had revenue of $477.10 million for the quarter, compared to analyst estimates of $459.42 million. RadNet had a negative net margin of 0.25% and a positive return on equity of 4.29%. Equities research analysts forecast that RadNet, Inc. will post 0.56 EPS for the current fiscal year.

Insider Activity at RadNet

In other RadNet news, Director David L. Swartz sold 25,000 shares of the business’s stock in a transaction dated Friday, March 7th. The stock was sold at an average price of $50.84, for a total value of $1,271,000.00. Following the completion of the sale, the director now owns 174,067 shares of the company’s stock, valued at $8,849,566.28. The trade was a 12.56 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Cornelis Wesdorp sold 1,000 shares of the 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 transaction, the chief executive officer now directly owns 55,995 shares in the company, valued at approximately $2,828,867.40. This represents a 1.75 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 38,000 shares of company stock valued at $1,926,730. Insiders own 5.12% of the company’s stock.

RadNet 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.