RadNet, Inc. (NASDAQ:RDNT) Shares Bought by KBC Group NV

KBC Group NV lifted its holdings in shares of RadNet, Inc. (NASDAQ:RDNT) by 47.6% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,678 shares of the medical research company’s stock after acquiring an additional 864 shares during the quarter. KBC Group NV’s holdings in RadNet were worth $187,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently added to or reduced their stakes in the company. HighTower Advisors LLC lifted its holdings in RadNet by 1.8% in the third quarter. HighTower Advisors LLC now owns 7,861 shares of the medical research company’s stock worth $545,000 after acquiring an additional 136 shares during the last quarter. AQR Capital Management LLC grew its holdings in RadNet by 3.2% in the 2nd quarter. AQR Capital Management LLC now owns 5,131 shares of the medical research company’s stock worth $302,000 after buying an additional 160 shares in the last quarter. Chartwell Investment Partners LLC increased its position in RadNet by 0.8% in the 3rd quarter. Chartwell Investment Partners LLC now owns 24,883 shares of the medical research company’s stock valued at $1,726,000 after acquiring an additional 193 shares during the period. Virtue Capital Management LLC raised its stake in RadNet by 1.4% during the 3rd quarter. Virtue Capital Management LLC now owns 19,389 shares of the medical research company’s stock valued at $1,345,000 after acquiring an additional 264 shares in the last quarter. Finally, Crossmark Global Holdings Inc. grew its stake in shares of RadNet by 6.3% in the third quarter. Crossmark Global Holdings Inc. now owns 4,958 shares of the medical research company’s stock worth $344,000 after purchasing an additional 296 shares in the last quarter. 77.90% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, insider Ranjan Jayanathan sold 38,557 shares of the business’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 transaction of $3,084,560.00. Following the transaction, the insider now directly owns 192,724 shares of the company’s stock, valued at approximately $15,417,920. The trade was a 16.67 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP David Jeffrey Katz sold 12,300 shares of the company’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 transaction, the executive vice president now owns 62,909 shares in the company, 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. 5.12% of the stock is currently owned by corporate insiders.

RadNet Price Performance

Shares of NASDAQ:RDNT opened at $67.35 on Thursday. The company’s fifty day moving average is $71.36 and its two-hundred day moving average is $68.98. The company has a market cap of $4.99 billion, a P/E ratio of -962.01 and a beta of 1.79. RadNet, Inc. has a 12-month low of $35.16 and a 12-month high of $93.65. The company has a quick ratio of 2.16, a current ratio of 2.16 and a debt-to-equity ratio of 0.89.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on RDNT shares. Barclays lowered their target price on RadNet from $85.00 to $74.00 and set an “overweight” rating on the stock in a report on Wednesday, January 22nd. Truist Financial reissued a “buy” rating and set a $88.00 price objective (down from $94.00) on shares of RadNet in a research note on Wednesday, January 22nd. Finally, Jefferies Financial Group reduced their target price on RadNet from $100.00 to $80.00 and set a “buy” rating for the company in a report on Wednesday, January 15th. One 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’s stock. According to data from MarketBeat.com, the stock presently 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.