RadNet, Inc. (NASDAQ:RDNT) Shares Bought by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC raised its position in RadNet, Inc. (NASDAQ:RDNT) by 30.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,475,995 shares of the medical research company’s stock after buying an additional 344,146 shares during the quarter. Allspring Global Investments Holdings LLC owned approximately 1.99% of RadNet worth $103,532,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also modified their holdings of RDNT. Lisanti Capital Growth LLC acquired a new stake in shares of RadNet during the third quarter worth about $2,922,000. Franklin Resources Inc. lifted its position in RadNet by 12.0% during the 3rd quarter. Franklin Resources Inc. now owns 387,061 shares of the medical research company’s stock worth $27,334,000 after acquiring an additional 41,381 shares during the period. KBC Group NV lifted its position in RadNet by 47.6% during the 4th quarter. KBC Group NV now owns 2,678 shares of the medical research company’s stock worth $187,000 after acquiring an additional 864 shares during the period. Pathstone Holdings LLC grew its stake in shares of RadNet by 58.5% in the 3rd quarter. Pathstone Holdings LLC now owns 27,503 shares of the medical research company’s stock valued at $1,908,000 after purchasing an additional 10,151 shares during the last quarter. Finally, JPMorgan Chase & Co. increased its holdings 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 purchasing an additional 1,838 shares during the period. 77.90% of the stock is owned by institutional investors and hedge funds.

RadNet Price Performance

RadNet stock opened at $62.05 on Thursday. The company has a market cap of $4.59 billion, a P/E ratio of -886.30 and a beta of 1.79. RadNet, Inc. has a one year low of $36.47 and a one year high of $93.65. The business has a fifty day moving average of $69.84 and a two-hundred day moving average of $69.02. The company has a debt-to-equity ratio of 0.89, a quick ratio of 2.16 and a current ratio of 2.16.

Insider Activity

In other RadNet news, EVP David Jeffrey Katz sold 12,300 shares of the company’s stock in a transaction on Monday, November 25th. The stock was sold at an average price of $81.65, for a total value of $1,004,295.00. Following the sale, the executive vice president now owns 62,909 shares of the company’s stock, valued at approximately $5,136,519.85. This represents a 16.35 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Ranjan Jayanathan sold 38,557 shares of the firm’s stock in a transaction 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 transaction, the insider now owns 192,724 shares of the company’s stock, valued at approximately $15,417,920. This represents a 16.67 % decrease in their position. The disclosure for this sale can be found here. Insiders own 5.12% of the company’s stock.

Analysts Set New Price Targets

RDNT has been the subject of several recent research reports. Jefferies Financial Group decreased their price target on RadNet from $100.00 to $80.00 and set a “buy” rating for the company in a report on Wednesday, January 15th. Truist Financial restated a “buy” rating and issued a $88.00 target price (down previously from $94.00) on shares of RadNet in a research note 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 on the stock in a research note on Wednesday, January 22nd. One investment analyst has rated the stock with a sell rating, four have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $75.50.

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.