American Century Companies Inc. Has $48.60 Million Position in RadNet, Inc. (NASDAQ:RDNT)

American Century Companies Inc. cut its stake in RadNet, Inc. (NASDAQ:RDNT) by 9.0% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 824,772 shares of the medical research company’s stock after selling 81,167 shares during the quarter. American Century Companies Inc. owned approximately 1.12% of RadNet worth $48,596,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. RTW Investments LP bought a new position in RadNet in the 4th quarter valued at about $23,073,000. Clearbridge Investments LLC bought a new position in shares of RadNet during the first quarter worth approximately $26,617,000. Allspring Global Investments Holdings LLC lifted its holdings in RadNet by 103.8% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 1,011,974 shares of the medical research company’s stock worth $59,626,000 after purchasing an additional 515,342 shares during the last quarter. 8 Knots Management LLC bought a new stake in RadNet in the 1st quarter valued at $20,273,000. Finally, Vanguard Group Inc. grew its holdings in RadNet by 8.1% in the 1st quarter. Vanguard Group Inc. now owns 4,600,539 shares of the medical research company’s stock valued at $223,862,000 after buying an additional 345,822 shares in the last quarter. Institutional investors and hedge funds own 77.90% of the company’s stock.

Insider Activity

In related news, EVP Michael N. Murdock sold 15,000 shares of the company’s stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $62.78, for a total transaction of $941,700.00. Following the completion of the sale, the executive vice president now directly owns 48,144 shares in the company, valued at approximately $3,022,480.32. The sale was disclosed in a filing with the SEC, which is available through this link. Corporate insiders own 5.12% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on RDNT shares. Truist Financial boosted their target price on shares of RadNet from $63.00 to $70.00 and gave the company a “buy” rating in a research report on Monday, July 15th. Jefferies Financial Group boosted their price objective on shares of RadNet from $61.00 to $75.00 and gave the company a “buy” rating in a report on Thursday, July 11th. Finally, Barclays raised shares of RadNet from an “equal weight” rating to an “overweight” rating and raised their target price for the stock from $57.00 to $79.00 in a report on Friday, September 6th. One research analyst has rated the stock with a sell rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $71.00.

RadNet Trading Down 2.6 %

RDNT opened at $66.02 on Tuesday. The stock has a market capitalization of $4.88 billion, a price-to-earnings ratio of 220.07 and a beta of 1.74. The company has a quick ratio of 2.12, a current ratio of 2.12 and a debt-to-equity ratio of 0.92. RadNet, Inc. has a twelve month low of $25.11 and a twelve month high of $69.60. The company has a 50-day simple moving average of $62.26 and a 200 day simple moving average of $56.24.

RadNet (NASDAQ:RDNT) last posted its quarterly earnings results on Wednesday, August 7th. The medical research company reported $0.16 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.17 by ($0.01). RadNet had a return on equity of 4.30% and a net margin of 0.58%. The firm had revenue of $459.70 million for the quarter, compared to analyst estimates of $438.53 million. During the same quarter in the prior year, the business posted $0.24 EPS. The business’s revenue was up 13.9% on a year-over-year basis. Analysts predict that RadNet, Inc. will post 0.58 EPS for the current fiscal year.

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.