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

Allspring Global Investments Holdings LLC cut its stake in RadNet, Inc. (NASDAQ:RDNT) by 19.2% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 417,775 shares of the medical research company’s stock after selling 99,270 shares during the period. Allspring Global Investments Holdings LLC owned about 0.61% of RadNet worth $14,526,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Tower Research Capital LLC TRC grew its position in shares of RadNet by 84.3% during the first quarter. Tower Research Capital LLC TRC now owns 1,078 shares of the medical research company’s stock worth $27,000 after buying an additional 493 shares in the last quarter. UBS Group AG lifted its stake in RadNet by 48.8% in the third quarter. UBS Group AG now owns 2,645 shares of the medical research company’s stock worth $54,000 after acquiring an additional 867 shares during the last quarter. Cubist Systematic Strategies LLC grew its holdings in RadNet by 180.8% during the 2nd quarter. Cubist Systematic Strategies LLC now owns 3,443 shares of the medical research company’s stock worth $59,000 after acquiring an additional 2,217 shares in the last quarter. Assetmark Inc. increased its position in shares of RadNet by 51.6% in the 3rd quarter. Assetmark Inc. now owns 2,354 shares of the medical research company’s stock valued at $66,000 after purchasing an additional 801 shares during the last quarter. Finally, Lazard Asset Management LLC acquired a new stake in shares of RadNet in the 3rd quarter valued at $69,000. 77.90% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts recently commented on the stock. Jefferies Financial Group boosted their target price on shares of RadNet from $47.00 to $58.00 and gave the stock a “buy” rating in a research note on Friday, March 22nd. StockNews.com downgraded shares of RadNet from a “hold” rating to a “sell” rating in a research report on Thursday, April 11th. Barclays started coverage on shares of RadNet in a research report on Wednesday, March 6th. They issued an “equal weight” rating and a $48.00 price target for the company. Finally, Truist Financial reaffirmed a “buy” rating and set a $55.00 price objective (up previously from $51.00) on shares of RadNet in a report on Thursday, March 28th.

RadNet Stock Performance

Shares of RadNet stock opened at $47.81 on Tuesday. The company has a debt-to-equity ratio of 1.00, a current ratio of 1.32 and a quick ratio of 1.32. The stock has a market capitalization of $3.27 billion, a price-to-earnings ratio of -2,389.31 and a beta of 1.69. RadNet, Inc. has a 12 month low of $25.11 and a 12 month high of $49.94. The firm’s fifty day simple moving average is $43.94 and its 200-day simple moving average is $36.86.

RadNet (NASDAQ:RDNT) last announced its earnings results on Friday, March 1st. The medical research company reported $0.20 earnings per share for the quarter, topping the consensus estimate of $0.11 by $0.09. The business had revenue of $420.38 million during the quarter, compared to the consensus estimate of $410.11 million. RadNet had a net margin of 0.19% and a return on equity of 4.72%. The business’s quarterly revenue was up 9.5% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.11 earnings per share. As a group, equities analysts forecast that RadNet, Inc. will post 0.35 earnings per share for the current 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.