Legato Capital Management LLC Has $701,000 Position in RadNet, Inc. (NASDAQ:RDNT)

Legato Capital Management LLC grew its stake in shares of RadNet, Inc. (NASDAQ:RDNT) by 40.1% in the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 10,035 shares of the medical research company’s stock after buying an additional 2,870 shares during the period. Legato Capital Management LLC’s holdings in RadNet were worth $701,000 as of its most recent filing with the SEC.

A number of other large investors have also made changes to their positions in RDNT. Portolan Capital Management LLC raised its position in RadNet by 384.8% in the third quarter. Portolan Capital Management LLC now owns 491,358 shares of the medical research company’s stock worth $34,095,000 after purchasing an additional 390,011 shares in the last quarter. Allspring Global Investments Holdings LLC raised its position in RadNet by 30.4% in 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 purchasing an additional 344,146 shares in the last quarter. Harbor Capital Advisors Inc. raised its position in RadNet by 130.5% in the third quarter. Harbor Capital Advisors Inc. now owns 402,205 shares of the medical research company’s stock worth $27,909,000 after purchasing an additional 227,713 shares in the last quarter. Cerity Partners LLC raised its position in RadNet by 131.4% in the third quarter. Cerity Partners LLC now owns 387,536 shares of the medical research company’s stock worth $26,891,000 after purchasing an additional 220,068 shares in the last quarter. Finally, JB Capital Partners LP raised its position in RadNet by 15.9% in the third quarter. JB Capital Partners LP now owns 1,504,061 shares of the medical research company’s stock worth $104,367,000 after purchasing an additional 206,850 shares in the last quarter. Institutional investors and hedge funds own 77.90% of the company’s stock.

RadNet Stock Performance

NASDAQ RDNT opened at $62.52 on Friday. The firm has a market cap of $4.63 billion, a price-to-earnings ratio of -893.02 and a beta of 1.79. The company has a 50 day moving average of $69.46 and a 200-day moving average of $68.97. 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, Inc. has a 1-year low of $36.47 and a 1-year high of $93.65.

Wall Street Analyst Weigh In

Several research firms recently issued reports on RDNT. Jefferies Financial Group dropped 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. Truist Financial reissued 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. Finally, Barclays dropped their price target on shares of RadNet from $85.00 to $74.00 and set an “overweight” rating for the company in a research report on Wednesday, January 22nd. One equities research 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. According to MarketBeat, RadNet currently has an average rating of “Moderate Buy” and an average price target of $75.50.

Insider Transactions at RadNet

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