1,518 Shares in RadNet, Inc. (NASDAQ:RDNT) Bought by Twin Tree Management LP

Twin Tree Management LP acquired a new position in shares of RadNet, Inc. (NASDAQ:RDNT) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 1,518 shares of the medical research company’s stock, valued at approximately $106,000.

Other institutional investors also recently bought and sold shares of the company. USA Financial Formulas purchased a new stake in RadNet during the fourth quarter worth $30,000. Fifth Third Bancorp boosted its position in RadNet by 84.3% during the fourth quarter. Fifth Third Bancorp now owns 667 shares of the medical research company’s stock worth $47,000 after purchasing an additional 305 shares in the last quarter. Smartleaf Asset Management LLC boosted its position in RadNet by 377.0% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,345 shares of the medical research company’s stock worth $96,000 after purchasing an additional 1,063 shares in the last quarter. 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 in the last quarter. Finally, AlphaQuest LLC boosted its position in RadNet by 14,726.7% during the fourth quarter. AlphaQuest LLC now owns 2,224 shares of the medical research company’s stock worth $155,000 after purchasing an additional 2,209 shares in the last quarter. 77.90% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms have commented on RDNT. StockNews.com upgraded RadNet to a “sell” rating in a research report on Wednesday. Raymond James upgraded RadNet from an “outperform” rating to a “strong-buy” rating and reduced their price objective for the company from $85.00 to $65.00 in a research report on Wednesday, March 5th. Jefferies Financial Group reduced their price objective on RadNet from $100.00 to $80.00 and set a “buy” rating on the stock in a research report on Wednesday, January 15th. Truist Financial restated a “buy” rating and issued a $88.00 price objective (down from $94.00) on shares of RadNet in a research report on Wednesday, January 22nd. Finally, Barclays reduced their price objective on RadNet from $85.00 to $74.00 and set an “overweight” rating on the stock in a research report on Wednesday, January 22nd. One 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 stock. According to MarketBeat.com, RadNet currently has a consensus rating of “Buy” and a consensus price target of $76.75.

RadNet Stock Performance

NASDAQ RDNT opened at $50.71 on Thursday. The business’s 50-day moving average price is $59.62 and its 200 day moving average price is $67.70. RadNet, Inc. has a twelve month low of $45.16 and a twelve month high of $93.65. The company has a market capitalization of $3.75 billion, a PE ratio of -724.33 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 released its earnings results on Thursday, February 27th. The medical research company reported $0.22 earnings per share for the quarter, topping the consensus estimate of $0.21 by $0.01. RadNet had a positive return on equity of 4.29% and a negative net margin of 0.25%. The firm had revenue of $477.10 million for the quarter, compared to the consensus estimate of $459.42 million. On average, research analysts predict that RadNet, Inc. will post 0.56 earnings per share for the current year.

Insiders Place Their Bets

In other RadNet news, CEO Cornelis Wesdorp sold 1,000 shares of the company’s stock in a transaction dated Friday, March 7th. The stock was sold at an average price of $50.52, for a total transaction of $50,520.00. Following the completion of the sale, the chief executive officer now directly owns 55,995 shares in the company, valued at $2,828,867.40. This represents a 1.75 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, COO Norman R. Hames sold 5,000 shares of the company’s stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $49.79, for a total value of $248,950.00. Following the sale, the chief operating officer now owns 261,959 shares of the company’s stock, valued at $13,042,938.61. This represents a 1.87 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 38,000 shares of company stock worth $1,926,730 over the last three months. 5.12% of the stock is owned by insiders.

RadNet Company 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.