D. E. Shaw & Co. Inc. Trims Stock Holdings in RadNet, Inc. (NASDAQ:RDNT)

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

Other institutional investors also recently bought and sold shares of the company. Norges Bank purchased a new stake in shares of RadNet during the 4th quarter worth approximately $56,381,000. Raymond James Financial Inc. purchased a new stake in RadNet during the fourth quarter valued at $33,090,000. T. Rowe Price Investment Management Inc. raised its stake in RadNet by 79.3% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 913,691 shares of the medical research company's stock valued at $63,813,000 after purchasing an additional 404,241 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its position in RadNet by 30.4% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 1,475,995 shares of the medical research company's stock valued at $103,532,000 after purchasing an additional 344,146 shares during the last quarter. Finally, Alyeska Investment Group L.P. grew its stake in shares of RadNet by 108.6% in the 4th quarter. Alyeska Investment Group L.P. now owns 502,612 shares of the medical research company's stock worth $35,102,000 after buying an additional 261,711 shares in the last quarter. 77.90% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages have recently issued reports on RDNT. Raymond James upgraded shares of RadNet from an "outperform" rating to a "strong-buy" rating and decreased their target price for the company from $85.00 to $65.00 in a research report on Wednesday, March 5th. Barclays decreased their price objective on RadNet from $74.00 to $60.00 and set an "overweight" rating on the stock in a research report on Monday, March 24th. Truist Financial lowered 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. Finally, Wall Street Zen downgraded RadNet from a "hold" rating to a "sell" rating in a research report on Thursday, May 22nd. One equities 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. Based on data from MarketBeat.com, the stock presently has an average rating of "Buy" and an average target price of $69.75.

RadNet Trading Down 0.2%

RadNet stock traded down $0.10 during midday trading on Thursday, reaching $55.19. The stock had a trading volume of 418,124 shares, compared to its average volume of 686,825. 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 firm has a market cap of $4.14 billion, a price-to-earnings ratio of -788.32 and a beta of 1.46. RadNet, Inc. has a 52-week low of $45.00 and a 52-week high of $93.65. The company has a fifty day moving average of $53.26 and a 200 day moving average of $62.35.

RadNet (NASDAQ:RDNT - Get Free Report) last released its earnings results on Thursday, February 27th. The medical research company reported $0.22 EPS 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 firm had revenue of $477.10 million for the quarter, compared to analysts' expectations of $459.42 million. On average, analysts anticipate that RadNet, Inc. will post 0.56 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Director David L. Swartz sold 25,000 shares of the business's stock in a transaction on Friday, March 7th. The stock was sold at an average price of $50.84, for a total value of $1,271,000.00. Following the completion of the transaction, the director now directly owns 174,067 shares of the company's stock, valued at approximately $8,849,566.28. The trade was a 12.56% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Alma Gregory Sorensen sold 55,000 shares of the firm's stock in a transaction dated Friday, May 23rd. The shares were sold at an average price of $56.48, for a total transaction of $3,106,400.00. Following the completion of the sale, the executive vice president now owns 1,160,509 shares in the company, valued at $65,545,548.32. This represents a 4.52% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 101,447 shares of company stock worth $5,539,950 over the last quarter. Company insiders own 5.12% of the company's stock.

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.