GAMMA Investing LLC boosted its stake in shares of RadNet, Inc. (NASDAQ:RDNT - Free Report) by 5,981.8% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 81,740 shares of the medical research company's stock after acquiring an additional 80,396 shares during the quarter. GAMMA Investing LLC owned 0.11% of RadNet worth $4,064,000 as of its most recent SEC filing.
Other hedge funds have also recently bought and sold shares of the company. Smartleaf Asset Management LLC raised 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 acquiring an additional 1,063 shares in the last quarter. Tower Research Capital LLC TRC grew its holdings in shares of RadNet by 42.2% during the fourth quarter. Tower Research Capital LLC TRC now owns 1,422 shares of the medical research company's stock worth $99,000 after purchasing an additional 422 shares during the last quarter. Canada Pension Plan Investment Board bought a new stake in shares of RadNet during the fourth quarter worth $105,000. Twin Tree Management LP bought a new stake in shares of RadNet during the fourth quarter worth $106,000. Finally, IFP Advisors Inc grew its holdings in shares of RadNet by 39.1% during the fourth quarter. IFP Advisors Inc now owns 1,697 shares of the medical research company's stock worth $119,000 after purchasing an additional 477 shares during the last quarter. 77.90% of the stock is currently owned by institutional investors and hedge funds.
Insider Activity
In related news, EVP Alma Gregory Sorensen sold 55,000 shares of the company's stock in a transaction dated Friday, May 23rd. The shares were sold at an average price of $56.48, for a total value of $3,106,400.00. Following the transaction, the executive vice president now owns 1,160,509 shares in the company, valued at approximately $65,545,548.32. This represents a 4.52% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Norman R. Hames sold 5,000 shares of the company's stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $49.79, for a total transaction of $248,950.00. Following the completion of the transaction, 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 position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 73,447 shares of company stock valued at $4,113,270. 5.60% of the stock is owned by company insiders.
Analyst Ratings Changes
RDNT has been the topic of several research analyst reports. Truist Financial decreased their target price on RadNet from $88.00 to $74.00 and set a "buy" rating on the stock in a report on Friday, April 11th. B. Riley initiated coverage on RadNet in a report on Friday. They issued a "buy" rating and a $69.00 price target on the stock. Wall Street Zen cut RadNet from a "hold" rating to a "sell" rating in a report on Thursday, May 22nd. Raymond James upgraded RadNet from an "outperform" rating to a "strong-buy" rating and reduced their target price for the stock from $85.00 to $65.00 in a report on Wednesday, March 5th. Finally, Barclays lowered their price objective on shares of RadNet from $74.00 to $60.00 and set an "overweight" rating for the company in a research report on Monday, March 24th. One investment analyst has rated the stock with a sell rating, three have given a buy rating and three have given a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Buy" and a consensus target price of $69.60.
View Our Latest Report on RDNT
RadNet Stock Performance
Shares of RDNT stock traded down $1.17 on Friday, reaching $55.41. The stock had a trading volume of 705,671 shares, compared to its average volume of 690,300. 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's 50-day moving average is $54.99 and its two-hundred day moving average is $60.42. The firm has a market capitalization of $4.16 billion, a price-to-earnings ratio of -791.46 and a beta of 1.43. RadNet, Inc. has a 12 month low of $45.00 and a 12 month high of $93.65.
RadNet Company Profile
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Free Report)
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.
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