28,398 Shares in RadNet, Inc. (NASDAQ:RDNT) Bought by Scotia Capital Inc.

Scotia Capital Inc. acquired a new stake in RadNet, Inc. (NASDAQ:RDNT - Free Report) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 28,398 shares of the medical research company's stock, valued at approximately $1,983,000.

A number of other hedge funds have also made changes to their positions in RDNT. Vanguard Group Inc. lifted its holdings in shares of RadNet by 1.0% in the fourth quarter. Vanguard Group Inc. now owns 7,425,218 shares of the medical research company's stock valued at $518,577,000 after buying an additional 71,910 shares during the period. State Street Corp boosted its position in shares of RadNet by 1.3% during the 3rd quarter. State Street Corp now owns 2,446,179 shares of the medical research company's stock valued at $169,740,000 after purchasing an additional 30,244 shares in the last quarter. Invesco Ltd. grew its stake in shares of RadNet by 4.3% in the 4th quarter. Invesco Ltd. now owns 1,731,074 shares of the medical research company's stock worth $120,898,000 after purchasing an additional 70,673 shares during the last quarter. Geode Capital Management LLC lifted its stake in RadNet by 0.8% during the third quarter. Geode Capital Management LLC now owns 1,555,214 shares of the medical research company's stock valued at $107,936,000 after purchasing an additional 11,613 shares during the last quarter. Finally, Principal Financial Group Inc. boosted its holdings in RadNet by 8.5% during the third quarter. Principal Financial Group Inc. now owns 1,506,545 shares of the medical research company's stock worth $104,539,000 after buying an additional 118,501 shares in the last quarter. Institutional investors and hedge funds own 77.90% of the company's stock.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the company. Truist Financial reduced their price objective on RadNet from $88.00 to $74.00 and set a "buy" rating for the company in a research note on Friday, April 11th. Jefferies Financial Group cut their price objective on RadNet from $100.00 to $80.00 and set a "buy" rating on the stock in a report on Wednesday, January 15th. StockNews.com raised shares of RadNet to a "sell" rating in a research report on Wednesday, March 19th. Barclays lowered their price objective on shares of RadNet from $74.00 to $60.00 and set an "overweight" rating on the stock in a research report on Monday, March 24th. Finally, Raymond James raised RadNet from an "outperform" rating to a "strong-buy" rating and decreased their target price for the stock from $85.00 to $65.00 in a research report on Wednesday, March 5th. One research analyst has rated the stock with a sell rating, three have given a buy rating and two have issued a strong buy rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Buy" and an average price target of $69.75.

RadNet Stock Down 1.5 %

NASDAQ:RDNT traded down $0.74 during mid-day trading on Friday, reaching $49.78. The stock had a trading volume of 704,085 shares, compared to its average volume of 659,368. The company has a debt-to-equity ratio of 0.89, a current ratio of 2.16 and a quick ratio of 2.16. The stock has a market cap of $3.69 billion, a P/E ratio of -711.04 and a beta of 1.59. The business's 50 day moving average is $53.22 and its 200 day moving average is $65.21. RadNet, Inc. has a fifty-two week low of $45.00 and a fifty-two week high of $93.65.

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

Insiders Place Their Bets

In related news, CEO Cornelis Wesdorp sold 2,000 shares of the company's stock in a transaction on Wednesday, March 5th. The shares were sold at an average price of $52.58, for a total transaction of $105,160.00. Following the completion of the sale, the chief executive officer now directly owns 58,995 shares of the company's stock, valued at approximately $3,101,957.10. This represents a 3.28 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible 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 completion of the transaction, the chief operating officer now owns 251,959 shares in the company, valued at $12,653,380.98. This trade represents a 1.95 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 38,000 shares of company stock valued at $1,926,730 over the last 90 days. 5.12% of the stock is currently owned by company 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.