American Century Companies Inc. Has $14.63 Million Stock Position in RadNet, Inc. (NASDAQ:RDNT)

American Century Companies Inc. cut its position in RadNet, Inc. (NASDAQ:RDNT) by 49.6% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 209,412 shares of the medical research company’s stock after selling 206,017 shares during the quarter. American Century Companies Inc.’s holdings in RadNet were worth $14,625,000 at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of RDNT. Franklin Resources Inc. grew its position in shares of RadNet by 12.0% in the third quarter. Franklin Resources Inc. now owns 387,061 shares of the medical research company’s stock valued at $27,334,000 after purchasing an additional 41,381 shares during the last quarter. KBC Group NV increased its position in RadNet by 47.6% in the 4th quarter. KBC Group NV now owns 2,678 shares of the medical research company’s stock worth $187,000 after buying an additional 864 shares during the period. Allspring Global Investments Holdings LLC lifted its holdings in shares of RadNet by 30.4% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 1,475,995 shares of the medical research company’s stock worth $103,532,000 after buying an additional 344,146 shares during the last quarter. JPMorgan Chase & Co. boosted its position 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 acquiring an additional 1,838 shares during the period. Finally, WCM Investment Management LLC acquired a new stake in shares of RadNet in the fourth quarter worth $14,110,000. Institutional investors own 77.90% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the stock. Raymond James upgraded shares of RadNet from an “outperform” rating to a “strong-buy” rating and cut their target price for the company from $85.00 to $65.00 in a research note on Wednesday, March 5th. StockNews.com raised shares of RadNet to a “sell” rating in a research report on Wednesday, March 19th. Jefferies Financial Group reduced their target price on shares of RadNet from $100.00 to $80.00 and set a “buy” rating for the company in a research note on Wednesday, January 15th. Barclays lowered 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. 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 report on Wednesday, January 22nd. One analyst has rated the stock with a sell rating, three have issued a buy rating and two have assigned 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 $73.25.

RadNet Price Performance

Shares of RadNet stock opened at $50.62 on Wednesday. The firm has a market cap of $3.75 billion, a P/E ratio of -723.04 and a beta of 1.85. The firm’s 50-day simple moving average is $57.16 and its 200-day simple moving average is $66.89. RadNet, Inc. has a twelve month low of $45.82 and a twelve month high of $93.65. The company has a debt-to-equity ratio of 0.89, a quick ratio of 2.16 and a current ratio of 2.16.

RadNet (NASDAQ:RDNT) last released its quarterly earnings data on Thursday, February 27th. The medical research company reported $0.22 earnings per share 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 for the quarter, compared to the consensus estimate of $459.42 million. As a group, research analysts expect that RadNet, Inc. will post 0.56 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director David L. Swartz sold 25,000 shares of the stock in a transaction dated 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 completion of the sale, the director now owns 174,067 shares in the company, valued at $8,849,566.28. This trade represents a 12.56 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Cornelis Wesdorp sold 2,000 shares of the business’s stock in a transaction dated Wednesday, March 5th. The shares were sold at an average price of $52.58, for a total transaction of $105,160.00. Following the completion of the transaction, the chief executive officer now owns 58,995 shares in the company, valued at approximately $3,101,957.10. This trade represents a 3.28 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 38,000 shares of company stock worth $1,926,730 in the last 90 days. 5.12% of the stock is owned by company insiders.

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.