RadNet, Inc. (NASDAQ:RDNT) Shares Sold by D. E. Shaw & Co. Inc.

D. E. Shaw & Co. Inc. decreased its holdings in RadNet, Inc. (NASDAQ:RDNT - Free Report) by 71.4% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 11,302 shares of the medical research company's stock after selling 28,165 shares during the quarter. D. E. Shaw & Co. Inc.'s holdings in RadNet were worth $789,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of the business. Fifth Third Bancorp increased its stake in RadNet by 84.3% in the fourth quarter. Fifth Third Bancorp now owns 667 shares of the medical research company's stock valued at $47,000 after acquiring an additional 305 shares during the last quarter. Smartleaf Asset Management LLC raised its holdings in shares of RadNet by 377.0% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,345 shares of the medical research company's stock worth $96,000 after acquiring an additional 1,063 shares during the last quarter. Tower Research Capital LLC TRC increased its stake in 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 buying an additional 422 shares during the last quarter. Canada Pension Plan Investment Board bought a new position in shares of RadNet during the 4th quarter valued at approximately $105,000. Finally, Twin Tree Management LP bought a new position in shares of RadNet during the 4th quarter valued at approximately $106,000. Institutional investors and hedge funds own 77.90% of the company's stock.

RadNet Stock Up 0.1%

Shares of NASDAQ RDNT traded up $0.07 during midday trading on Tuesday, hitting $56.68. The stock had a trading volume of 456,091 shares, compared to its average volume of 686,228. The company has a quick ratio of 2.16, a current ratio of 2.16 and a debt-to-equity ratio of 0.89. The business's 50 day moving average is $52.93 and its 200-day moving average is $62.65. RadNet, Inc. has a 52 week low of $45.00 and a 52 week high of $93.65. The company has a market cap of $4.25 billion, a P/E ratio of -809.60 and a beta of 1.46.

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

Analysts Set New Price Targets

Several research firms recently commented on RDNT. Wall Street Zen downgraded shares of RadNet from a "hold" rating to a "sell" rating in a report on Thursday, May 22nd. Truist Financial lowered their price target on shares of RadNet from $88.00 to $74.00 and set a "buy" rating for the company in a research note on Friday, April 11th. Raymond James raised shares of RadNet from an "outperform" rating to a "strong-buy" rating and lowered their price target for the stock from $85.00 to $65.00 in a research note on Wednesday, March 5th. Finally, Barclays decreased 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. One investment analyst has rated the stock with a sell rating, three have assigned a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Buy" and a consensus target price of $69.75.

Insiders Place Their Bets

In other news, COO Norman R. Hames sold 2,911 shares of the company's stock in a transaction on Thursday, May 15th. The shares were sold at an average price of $60.00, for a total value of $174,660.00. Following the sale, the chief operating officer now directly owns 24,889 shares of the company's stock, valued at $1,493,340. This represents a 10.47% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Cornelis Wesdorp sold 1,000 shares of the company'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 completion of the sale, the chief executive officer now directly owns 55,995 shares in the company, valued at $2,828,867.40. This trade represents a 1.75% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 46,447 shares of company stock valued at $2,433,550. 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.