Neuberger Berman Group LLC Raises Position in RadNet, Inc. (NASDAQ:RDNT)

Neuberger Berman Group LLC boosted its position in RadNet, Inc. (NASDAQ:RDNT) by 3.6% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 200,281 shares of the medical research company’s stock after purchasing an additional 6,899 shares during the period. Neuberger Berman Group LLC owned about 0.27% of RadNet worth $13,988,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of RDNT. USA Financial Formulas bought a new stake in shares of RadNet in the fourth quarter valued at $30,000. Fifth Third Bancorp raised its stake in RadNet by 84.3% in the 4th quarter. Fifth Third Bancorp now owns 667 shares of the medical research company’s stock valued at $47,000 after acquiring an additional 305 shares during the period. Smartleaf Asset Management LLC raised its stake in RadNet by 377.0% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,345 shares of the medical research company’s stock valued at $96,000 after acquiring an additional 1,063 shares during the period. Twin Tree Management LP purchased a new stake in RadNet during the fourth quarter valued at about $106,000. Finally, IFP Advisors Inc boosted its position in RadNet by 39.1% during the fourth quarter. IFP Advisors Inc now owns 1,697 shares of the medical research company’s stock worth $119,000 after purchasing an additional 477 shares during the period. 77.90% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of brokerages recently commented on RDNT. Barclays dropped their price target on shares of RadNet from $74.00 to $60.00 and set an “overweight” rating on the stock in a research note on Monday, March 24th. StockNews.com upgraded RadNet to a “sell” rating in a research report on Wednesday, March 19th. Jefferies Financial Group reduced their price target on RadNet from $100.00 to $80.00 and set a “buy” rating for the company in a research report on Wednesday, January 15th. Raymond James raised RadNet from an “outperform” rating to a “strong-buy” rating and dropped their price objective for the stock from $85.00 to $65.00 in a report on Wednesday, March 5th. Finally, Truist Financial reaffirmed a “buy” rating and set a $88.00 target price (down previously from $94.00) on shares of RadNet in a report on Wednesday, January 22nd. One investment analyst has rated the stock with a sell rating, three have assigned a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus price target of $73.25.

Insider Transactions at RadNet

In related news, Director David L. Swartz sold 25,000 shares of the stock in a transaction dated Friday, March 7th. The stock was sold at an average price of $50.84, for a total transaction of $1,271,000.00. Following the completion of the sale, the director now directly owns 174,067 shares in the company, valued at $8,849,566.28. This represents a 12.56 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Cornelis Wesdorp sold 1,000 shares of the business’s stock in a transaction that occurred on Friday, March 7th. The shares were sold at an average price of $50.52, for a total value of $50,520.00. Following the completion of the sale, the chief executive officer now owns 55,995 shares of the company’s stock, valued at $2,828,867.40. The trade was a 1.75 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 38,000 shares of company stock worth $1,926,730. 5.12% of the stock is currently owned by insiders.

RadNet Stock Performance

NASDAQ:RDNT opened at $53.00 on Friday. The stock has a market cap of $3.92 billion, a P/E ratio of -757.03 and a beta of 1.59. The company has a quick ratio of 2.16, a current ratio of 2.16 and a debt-to-equity ratio of 0.89. The business’s 50-day moving average price is $54.49 and its two-hundred day moving average price is $65.79. RadNet, Inc. has a twelve month low of $45.00 and a twelve month high of $93.65.

RadNet (NASDAQ:RDNT) last issued its quarterly earnings results on Thursday, February 27th. The medical research company reported $0.22 EPS for the quarter, topping analysts’ consensus estimates of $0.21 by $0.01. The firm had revenue of $477.10 million for the quarter, compared to analyst estimates of $459.42 million. RadNet had a negative net margin of 0.25% and a positive return on equity of 4.29%. As a group, equities analysts predict that RadNet, Inc. will post 0.56 EPS for the current fiscal year.

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.