54,342 Shares in RadNet, Inc. (NASDAQ:RDNT) Purchased by F M Investments LLC

F M Investments LLC purchased a new stake in shares of RadNet, Inc. (NASDAQ:RDNT - Free Report) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm purchased 54,342 shares of the medical research company's stock, valued at approximately $3,795,000. F M Investments LLC owned 0.07% of RadNet as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently modified their holdings of RDNT. CenterBook Partners LP bought a new position in RadNet during the fourth quarter worth $855,000. Raymond James Financial Inc. acquired a new position in RadNet in the fourth quarter valued at about $33,090,000. Renaissance Technologies LLC acquired a new position in RadNet in the 4th quarter worth $237,000. Invesco Ltd. increased its stake in RadNet by 4.3% in the 4th quarter. Invesco Ltd. now owns 1,731,074 shares of the medical research company's stock valued at $120,898,000 after buying an additional 70,673 shares during the last quarter. Finally, Bank of Montreal Can grew its position in shares of RadNet by 13.6% in the 4th quarter. Bank of Montreal Can now owns 8,563 shares of the medical research company's stock valued at $598,000 after acquiring an additional 1,026 shares during the period. 77.90% of the stock is owned by institutional investors and hedge funds.

RadNet Price Performance

Shares of NASDAQ:RDNT traded down $1.62 on Wednesday, reaching $51.46. 766,842 shares of the company were exchanged, compared to its average volume of 654,031. RadNet, Inc. has a 1-year low of $45.00 and a 1-year high of $93.65. The firm has a market cap of $3.81 billion, a price-to-earnings ratio of -735.04 and a beta of 1.59. The company has a 50-day moving average of $53.71 and a 200-day moving average of $65.45. 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 - Get Free Report) last issued its quarterly earnings data on Thursday, February 27th. The medical research company reported $0.22 EPS for the quarter, topping analysts' consensus estimates 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 firm had revenue of $477.10 million for the quarter, compared to analyst estimates of $459.42 million. Equities analysts forecast that RadNet, Inc. will post 0.56 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other RadNet news, CEO Cornelis Wesdorp sold 1,000 shares of the stock in a transaction on Friday, March 7th. The shares were sold at an average price of $50.52, for a total value of $50,520.00. Following the sale, the chief executive officer now directly owns 55,995 shares in the company, valued at approximately $2,828,867.40. This trade represents a 1.75 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, COO Norman R. Hames sold 5,000 shares of the business's stock in a transaction dated 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 directly owns 251,959 shares in the company, valued at $12,653,380.98. This trade represents a 1.95 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 38,000 shares of company stock worth $1,926,730 in the last quarter. 5.12% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several research analysts have commented on the company. Jefferies Financial Group lowered their target price on RadNet from $100.00 to $80.00 and set a "buy" rating for the company in a research note on Wednesday, January 15th. Truist Financial cut their price target on shares of RadNet from $88.00 to $74.00 and set a "buy" rating on the stock in a report on Friday, April 11th. Raymond James upgraded 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 note on Wednesday, March 5th. Barclays reduced 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, StockNews.com upgraded RadNet to a "sell" rating in a report on Wednesday, March 19th. One research analyst has rated the stock with a sell rating, three have issued a buy rating and two have assigned a strong buy rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Buy" and an average price target of $69.75.

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.