RadNet, Inc. (NASDAQ:RDNT) Shares Purchased by ProShare Advisors LLC

ProShare Advisors LLC grew its position in RadNet, Inc. (NASDAQ:RDNT - Free Report) by 44.5% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 19,906 shares of the medical research company's stock after purchasing an additional 6,134 shares during the period. ProShare Advisors LLC's holdings in RadNet were worth $1,390,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Fifth Third Bancorp increased its holdings in shares of 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 purchasing an additional 305 shares during the period. Smartleaf Asset Management LLC raised its stake in shares of RadNet by 377.0% during the 4th 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 last quarter. Tower Research Capital LLC TRC raised its stake 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 buying an additional 422 shares during the last quarter. Canada Pension Plan Investment Board purchased a new position in shares of RadNet during the 4th quarter valued at about $105,000. Finally, Twin Tree Management LP purchased a new position in shares of RadNet during the 4th quarter valued at about $106,000. 77.90% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts recently commented on the company. Barclays dropped their target price on RadNet from $74.00 to $60.00 and set an "overweight" rating on the stock in a report on Monday, March 24th. Wall Street Zen lowered RadNet from a "hold" rating to a "sell" rating in a report on Thursday. Raymond James raised RadNet from an "outperform" rating to a "strong-buy" rating and dropped their target price for the stock from $85.00 to $65.00 in a report on Wednesday, March 5th. Finally, Truist Financial dropped 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. One analyst has rated the stock with a sell rating, three have issued a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of "Buy" and an average price target of $69.75.

RadNet Price Performance

Shares of RDNT stock traded down $0.16 during trading hours on Friday, hitting $56.61. 454,156 shares of the company's stock were exchanged, compared to its average volume of 687,151. RadNet, Inc. has a fifty-two week low of $45.00 and a fifty-two week high of $93.65. The firm has a market cap of $4.25 billion, a P/E ratio of -808.60 and a beta of 1.46. 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 50 day moving average of $52.81 and a two-hundred day moving average of $62.83.

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, topping analysts' consensus estimates of $0.21 by $0.01. The company 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%. Sell-side analysts forecast that RadNet, Inc. will post 0.56 EPS for the current year.

Insider Transactions at RadNet

In other news, COO Norman R. Hames sold 2,911 shares of RadNet stock in a transaction that occurred on Thursday, May 15th. The stock was 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. The trade was a 10.47% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director David L. Swartz sold 25,000 shares of the stock in a transaction on Friday, March 7th. The shares were 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. This represents a 12.56% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 46,447 shares of company stock valued at $2,433,550 over the last 90 days. Corporate 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.