4,563 Shares in RadNet, Inc. (NASDAQ:RDNT) Acquired by Bayesian Capital Management LP

Bayesian Capital Management LP bought a new stake in RadNet, Inc. (NASDAQ:RDNT - Free Report) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 4,563 shares of the medical research company's stock, valued at approximately $319,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. USA Financial Formulas purchased a new stake in shares of RadNet during the fourth quarter worth $30,000. Fifth Third Bancorp grew its position in shares of RadNet by 84.3% during the 4th quarter. Fifth Third Bancorp now owns 667 shares of the medical research company's stock valued at $47,000 after purchasing an additional 305 shares in the last quarter. Smartleaf Asset Management LLC boosted its stake 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 valued at $96,000 after buying an additional 1,063 shares during the period. Tower Research Capital LLC TRC boosted its position in shares of RadNet by 42.2% during the 4th quarter. Tower Research Capital LLC TRC now owns 1,422 shares of the medical research company's stock valued at $99,000 after acquiring an additional 422 shares during the last quarter. Finally, Canada Pension Plan Investment Board bought a new position in shares of RadNet in the fourth quarter worth approximately $105,000. 77.90% of the stock is owned by institutional investors.

RadNet Stock Down 1.1 %

Shares of NASDAQ:RDNT traded down $0.61 during midday trading on Friday, reaching $55.77. The company's stock had a trading volume of 1,993,767 shares, compared to its average volume of 671,860. RadNet, Inc. has a 12-month low of $45.00 and a 12-month high of $93.65. The firm has a market capitalization of $4.18 billion, a P/E ratio of -796.60 and a beta of 1.46. The firm has a 50 day moving average of $50.77 and a 200-day moving average of $63.38. The company has a quick ratio of 2.16, a current ratio of 2.16 and a debt-to-equity ratio of 0.89.

RadNet (NASDAQ:RDNT - Get Free Report) last posted its quarterly earnings data on Thursday, February 27th. The medical research company reported $0.22 earnings per share for the quarter, beating analysts' consensus estimates 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 company had revenue of $477.10 million during the quarter, compared to analyst estimates of $459.42 million. On average, research analysts anticipate that RadNet, Inc. will post 0.56 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the stock. StockNews.com raised shares of RadNet to a "sell" rating in a report on Wednesday, March 19th. Barclays decreased their price target on shares of RadNet from $74.00 to $60.00 and set an "overweight" rating on the stock in a research note on Monday, March 24th. Jefferies Financial Group reduced their price target on RadNet from $100.00 to $80.00 and set a "buy" rating on the stock in a research report on Wednesday, January 15th. Raymond James raised shares of 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 note on Wednesday, March 5th. Finally, 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. One equities research analyst has rated the stock with a sell rating, three have assigned a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Buy" and a consensus target price of $69.75.

Insider Activity at RadNet

In related news, COO Norman R. Hames sold 5,000 shares of the firm's stock in a transaction that occurred on Monday, March 17th. The shares were 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 in the company, valued at approximately $13,042,938.61. This trade represents a 1.87 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Cornelis Wesdorp sold 1,000 shares of the business's stock in a transaction on Friday, March 7th. The shares were sold at an average price of $50.52, for a total transaction of $50,520.00. Following the sale, the chief executive officer now owns 55,995 shares of the company's stock, valued at approximately $2,828,867.40. This represents a 1.75 % decrease in their ownership of the stock. 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. Corporate insiders own 5.12% of the company's stock.

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.