198,681 Shares in RadNet, Inc. (NASDAQ:RDNT) Acquired by WCM Investment Management LLC

WCM Investment Management LLC acquired a new stake in RadNet, Inc. (NASDAQ:RDNT) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 198,681 shares of the medical research company’s stock, valued at approximately $14,110,000. WCM Investment Management LLC owned about 0.27% of RadNet at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Lisanti Capital Growth LLC purchased a new position in RadNet in the third quarter valued at $2,922,000. Franklin Resources Inc. boosted its position in shares of RadNet by 12.0% during the 3rd quarter. Franklin Resources Inc. now owns 387,061 shares of the medical research company’s stock worth $27,334,000 after acquiring an additional 41,381 shares in the last quarter. KBC Group NV increased its holdings in shares of RadNet by 47.6% in the 4th quarter. KBC Group NV now owns 2,678 shares of the medical research company’s stock valued at $187,000 after acquiring an additional 864 shares during the last quarter. Pathstone Holdings LLC raised its position in shares of RadNet by 58.5% during the 3rd quarter. Pathstone Holdings LLC now owns 27,503 shares of the medical research company’s stock worth $1,908,000 after acquiring an additional 10,151 shares in the last quarter. Finally, JPMorgan Chase & Co. lifted its stake in RadNet by 1.4% during the third quarter. JPMorgan Chase & Co. now owns 132,997 shares of the medical research company’s stock worth $9,229,000 after purchasing an additional 1,838 shares during the last quarter. 77.90% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, insider Ranjan Jayanathan sold 38,557 shares of RadNet stock in a transaction on Tuesday, November 19th. The shares were sold at an average price of $80.00, for a total value of $3,084,560.00. Following the transaction, the insider now directly owns 192,724 shares in the company, valued at $15,417,920. This trade represents a 16.67 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP David Jeffrey Katz sold 12,300 shares of the business’s stock in a transaction 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 directly owns 62,909 shares in the company, valued at $5,136,519.85. This represents 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 currently owned by insiders.

RadNet Stock Performance

Shares of RadNet stock opened at $62.77 on Monday. The firm’s fifty day simple moving average is $70.62 and its 200-day simple moving average is $69.02. RadNet, Inc. has a 12 month low of $35.16 and a 12 month high of $93.65. The stock has a market capitalization of $4.65 billion, a price-to-earnings ratio of -896.59 and a beta of 1.79. The company has a debt-to-equity ratio of 0.89, a current ratio of 2.16 and a quick ratio of 2.16.

Analysts Set New Price Targets

Several equities analysts have commented on RDNT shares. Truist Financial reiterated a “buy” rating and issued a $88.00 price target (down from $94.00) on shares of RadNet in a research note on Wednesday, January 22nd. Barclays dropped their target price on shares of RadNet from $85.00 to $74.00 and set an “overweight” rating on the stock in a research report on Wednesday, January 22nd. Finally, Jefferies Financial Group reduced their price target on shares of RadNet from $100.00 to $80.00 and set a “buy” rating for the company in a research report on Wednesday, January 15th. One research analyst has rated the stock with a sell rating, four have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus 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.