Assenagon Asset Management S.A. Decreases Stock Holdings in RadNet, Inc. (NASDAQ:RDNT)

Assenagon Asset Management S.A. reduced its stake in shares of RadNet, Inc. (NASDAQ:RDNT) by 15.0% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 18,465 shares of the medical research company’s stock after selling 3,260 shares during the quarter. Assenagon Asset Management S.A.’s holdings in RadNet were worth $1,290,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in the stock. State Street Corp grew its holdings in shares of RadNet by 1.3% in the 3rd quarter. State Street Corp now owns 2,446,179 shares of the medical research company’s stock worth $169,740,000 after acquiring an additional 30,244 shares during the period. Geode Capital Management LLC boosted its position in RadNet by 0.8% during the third quarter. Geode Capital Management LLC now owns 1,555,214 shares of the medical research company’s stock worth $107,936,000 after purchasing an additional 11,613 shares in the last quarter. Principal Financial Group Inc. grew its holdings in RadNet by 8.5% in the third quarter. Principal Financial Group Inc. now owns 1,506,545 shares of the medical research company’s stock valued at $104,539,000 after purchasing an additional 118,501 shares during the last quarter. JB Capital Partners LP increased its position in shares of 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 valued at $104,367,000 after buying an additional 206,850 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC raised its stake in shares of RadNet by 11.8% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 1,131,849 shares of the medical research company’s stock worth $78,539,000 after buying an additional 119,875 shares during the last quarter. 77.90% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, insider Ranjan Jayanathan sold 38,557 shares of the stock in a transaction dated Tuesday, November 19th. The stock was sold at an average price of $80.00, for a total transaction of $3,084,560.00. Following the transaction, the insider now directly owns 192,724 shares in the company, valued at approximately $15,417,920. This represents a 16.67 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, EVP David Jeffrey Katz sold 12,300 shares of the firm’s stock in a transaction dated 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 completion of the sale, the executive vice president now directly owns 62,909 shares in the company, valued at approximately $5,136,519.85. The trade was a 16.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 5.12% of the stock is owned by company insiders.

RadNet Price Performance

RadNet stock opened at $64.95 on Friday. The firm’s 50-day moving average is $74.38 and its two-hundred day moving average is $68.60. The company has a debt-to-equity ratio of 0.89, a current ratio of 2.16 and a quick ratio of 2.16. The stock has a market capitalization of $4.81 billion, a P/E ratio of -927.72 and a beta of 1.79. RadNet, Inc. has a 12-month low of $35.16 and a 12-month high of $93.65.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the stock. Sidoti raised shares of RadNet to a “strong-buy” rating in a research note on Friday, October 4th. Barclays lowered their price target on shares of RadNet from $85.00 to $74.00 and set an “overweight” rating on the stock in a research report on Wednesday. Jefferies Financial Group dropped their price objective 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. Finally, Truist Financial reaffirmed 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. One equities research analyst has rated the stock with a sell rating, four have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $75.50.

About RadNet

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.