Centiva Capital LP Purchases Shares of 8,277 RadNet, Inc. (NASDAQ:RDNT)

Centiva Capital LP acquired a new stake in RadNet, Inc. (NASDAQ:RDNT - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor acquired 8,277 shares of the medical research company's stock, valued at approximately $578,000.

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

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the stock. Barclays reduced 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. StockNews.com upgraded RadNet to a "sell" rating in a research note on Monday. Truist Financial reduced their price objective on RadNet from $88.00 to $74.00 and set a "buy" rating on the stock in a research report on Friday, April 11th. Raymond James raised RadNet from an "outperform" rating to a "strong-buy" rating and lowered their price objective for the company from $85.00 to $65.00 in a research note on Wednesday, March 5th. Finally, Jefferies Financial Group cut their target price on shares of RadNet from $100.00 to $80.00 and set a "buy" rating on the stock in a research report on Wednesday, January 15th. One research 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, the stock currently has a consensus rating of "Buy" and an average target price of $69.75.

Insiders Place Their Bets

In other RadNet news, COO Norman R. Hames sold 5,000 shares of the 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 directly owns 261,959 shares in the company, valued at $13,042,938.61. This represents a 1.87% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Cornelis Wesdorp sold 1,000 shares of the stock in a transaction on Friday, March 7th. The stock was sold at an average price of $50.52, for a total value of $50,520.00. Following the completion of the sale, the chief executive officer now owns 55,995 shares in the company, valued at $2,828,867.40. This trade represents a 1.75% decrease in their position. 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 owned by company insiders.

RadNet Stock Performance

Shares of RadNet stock traded down $0.69 during trading hours on Thursday, hitting $59.66. 366,465 shares of the company's stock traded hands, compared to its average volume of 678,956. The stock has a market capitalization of $4.47 billion, a price-to-earnings ratio of -852.09 and a beta of 1.46. The company has a debt-to-equity ratio of 0.89, a current ratio of 2.16 and a quick ratio of 2.16. RadNet, Inc. has a 12-month low of $45.00 and a 12-month high of $93.65. The company has a fifty day simple moving average of $51.03 and a 200-day simple moving average of $63.28.

RadNet (NASDAQ:RDNT - Get Free Report) last posted its quarterly 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. The company had revenue of $477.10 million during the quarter, compared to the consensus estimate of $459.42 million. RadNet had a positive return on equity of 4.29% and a negative net margin of 0.25%. Equities research analysts anticipate that RadNet, Inc. will post 0.56 EPS for the current fiscal year.

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.