Deutsche Bank AG Lowers Position in RadNet, Inc. (NASDAQ:RDNT)

Deutsche Bank AG decreased its position in RadNet, Inc. (NASDAQ:RDNT) by 5.2% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 492,266 shares of the medical research company’s stock after selling 26,790 shares during the period. Deutsche Bank AG owned about 0.66% of RadNet worth $24,475,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in RDNT. Raymond James Financial Inc. purchased a new stake in shares of RadNet in the fourth quarter valued at about $33,090,000. T. Rowe Price Investment Management Inc. boosted its holdings in RadNet by 79.3% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 913,691 shares of the medical research company’s stock worth $63,813,000 after buying an additional 404,241 shares in the last quarter. Tidal Investments LLC boosted its holdings in RadNet by 7,219.2% during the fourth quarter. Tidal Investments LLC now owns 389,308 shares of the medical research company’s stock worth $27,189,000 after buying an additional 383,989 shares in the last quarter. Alyeska Investment Group L.P. boosted its holdings in RadNet by 108.6% during the fourth quarter. Alyeska Investment Group L.P. now owns 502,612 shares of the medical research company’s stock worth $35,102,000 after buying an additional 261,711 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC boosted its holdings in RadNet by 14.4% during the first quarter. Allspring Global Investments Holdings LLC now owns 1,689,275 shares of the medical research company’s stock worth $85,511,000 after buying an additional 213,280 shares in the last quarter. Hedge funds and other institutional investors own 77.90% of the company’s stock.

RadNet Stock Up 7.5%

Shares of NASDAQ RDNT opened at $68.40 on Thursday. RadNet, Inc. has a 12-month low of $45.00 and a 12-month high of $93.65. The company has a market capitalization of $5.26 billion, a PE ratio of -341.96 and a beta of 1.43. The company has a debt-to-equity ratio of 0.91, a current ratio of 2.00 and a quick ratio of 2.01. The firm’s 50-day moving average is $56.98 and its two-hundred day moving average is $55.91.

RadNet (NASDAQ:RDNT) last announced its quarterly earnings results on Sunday, August 10th. The medical research company reported $0.31 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.17 by $0.14. RadNet had a negative net margin of 0.78% and a positive return on equity of 2.41%. The company had revenue of $498.23 million for the quarter, compared to the consensus estimate of $488.06 million. During the same quarter in the prior year, the firm earned $0.16 earnings per share. The company’s revenue for the quarter was up 8.4% compared to the same quarter last year. Equities analysts anticipate that RadNet, Inc. will post 0.56 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts recently commented on RDNT shares. Truist Financial set a $74.00 price objective on shares of RadNet in a report on Thursday, July 10th. Raymond James Financial reissued a “strong-buy” rating and set a $75.00 price objective (up previously from $66.00) on shares of RadNet in a report on Wednesday. Morgan Stanley raised shares of RadNet to an “overweight” rating in a report on Monday. B. Riley started coverage on shares of RadNet in a report on Friday, June 13th. They set a “buy” rating and a $69.00 price objective on the stock. Finally, Wall Street Zen downgraded shares of RadNet from a “hold” rating to a “sell” rating in a report on Sunday, June 29th. One research analyst has rated the stock with a sell rating, four have given a buy rating and three have given a strong buy rating to the company. According to MarketBeat.com, RadNet presently has a consensus rating of “Buy” and an average price target of $71.60.

Insider Activity

In related news, EVP Alma Gregory Sorensen sold 55,000 shares of the company’s stock in a transaction that occurred on Friday, May 23rd. The shares were sold at an average price of $56.48, for a total transaction of $3,106,400.00. Following the transaction, the executive vice president owned 1,160,509 shares of the company’s stock, valued at approximately $65,545,548.32. This represents a 4.52% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 5.60% of the company’s stock.

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.