B. Metzler seel. Sohn & Co. AG Makes New Investment in RadNet, Inc. (NASDAQ:RDNT)

B. Metzler seel. Sohn & Co. AG purchased a new stake in shares of RadNet, Inc. (NASDAQ:RDNT) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund purchased 23,235 shares of the medical research company’s stock, valued at approximately $1,623,000.

Several other large investors have also made changes to their positions in RDNT. The Manufacturers Life Insurance Company lifted its stake in RadNet by 3.5% in the third quarter. The Manufacturers Life Insurance Company now owns 38,796 shares of the medical research company’s stock valued at $2,692,000 after acquiring an additional 1,323 shares during the last quarter. D.A. Davidson & CO. acquired a new stake in shares of RadNet in the 3rd quarter valued at $208,000. FMR LLC boosted its holdings in RadNet by 0.3% in the third quarter. FMR LLC now owns 701,396 shares of the medical research company’s stock worth $48,670,000 after purchasing an additional 2,242 shares in the last quarter. BNP Paribas Financial Markets increased its position in RadNet by 128.2% during the third quarter. BNP Paribas Financial Markets now owns 15,447 shares of the medical research company’s stock worth $1,072,000 after buying an additional 8,677 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in RadNet by 33.6% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 17,244 shares of the medical research company’s stock valued at $1,197,000 after buying an additional 4,332 shares in the last quarter. Institutional investors own 77.90% of the company’s stock.

Wall Street Analysts Forecast Growth

RDNT has been the subject of several recent analyst reports. Barclays decreased their price target on RadNet from $74.00 to $60.00 and set an “overweight” rating for the company in a research note on Monday, March 24th. Truist Financial reissued a “buy” rating and issued a $88.00 price target (down previously from $94.00) on shares of RadNet in a research report on Wednesday, January 22nd. StockNews.com upgraded shares of RadNet to a “sell” rating in a research note on Wednesday, March 19th. Jefferies Financial Group lowered their target price on shares of RadNet from $100.00 to $80.00 and set a “buy” rating on the stock in a research note on Wednesday, January 15th. Finally, Raymond James raised shares of RadNet from an “outperform” rating to a “strong-buy” rating and cut their target price for the stock from $85.00 to $65.00 in a research report on Wednesday, March 5th. One equities research analyst has rated the stock with a sell rating, three have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Buy” and a consensus target price of $73.25.

Insider Buying and Selling

In related news, Director David L. Swartz sold 25,000 shares of the company’s stock in a transaction on Friday, March 7th. The stock was sold at an average price of $50.84, for a total value of $1,271,000.00. Following the completion of the transaction, the director now directly owns 174,067 shares in the company, valued at approximately $8,849,566.28. This represents a 12.56 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, COO Norman R. Hames sold 5,000 shares of RadNet stock in a transaction on Wednesday, March 19th. The stock was sold at an average price of $50.22, for a total transaction of $251,100.00. Following the sale, the chief operating officer now owns 251,959 shares in the company, valued at $12,653,380.98. This represents a 1.95 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 38,000 shares of company stock valued at $1,926,730 over the last three months. 5.12% of the stock is owned by corporate insiders.

RadNet Trading Up 3.7 %

Shares of RadNet stock opened at $52.51 on Thursday. RadNet, Inc. has a 1 year low of $45.82 and a 1 year high of $93.65. The company’s fifty day simple moving average is $56.93 and its 200-day simple moving average is $66.79. The company has a market cap of $3.89 billion, a price-to-earnings ratio of -750.04 and a beta of 1.85. The company has a current ratio of 2.16, a quick ratio of 2.16 and a debt-to-equity ratio of 0.89.

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