Tidal Investments LLC Has $27.19 Million Stock Holdings in RadNet, Inc. (NASDAQ:RDNT)

Tidal Investments LLC grew its holdings in RadNet, Inc. (NASDAQ:RDNT - Free Report) by 7,219.2% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 389,308 shares of the medical research company's stock after purchasing an additional 383,989 shares during the quarter. Tidal Investments LLC owned approximately 0.53% of RadNet worth $27,189,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Highland Capital Management LLC increased its stake in shares of RadNet by 6.5% in the 4th quarter. Highland Capital Management LLC now owns 3,307 shares of the medical research company's stock valued at $231,000 after acquiring an additional 202 shares during the last quarter. Summit Investment Advisors Inc. grew its holdings in RadNet by 3.3% during the fourth quarter. Summit Investment Advisors Inc. now owns 6,917 shares of the medical research company's stock valued at $483,000 after purchasing an additional 219 shares during the period. Summit Financial LLC increased its stake in RadNet by 2.4% in the fourth quarter. Summit Financial LLC now owns 11,111 shares of the medical research company's stock valued at $776,000 after purchasing an additional 262 shares in the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd boosted its position in shares of RadNet by 4.3% during the fourth quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 7,389 shares of the medical research company's stock worth $516,000 after purchasing an additional 302 shares in the last quarter. Finally, Fifth Third Bancorp grew its holdings 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 during the period. Institutional investors own 77.90% of the company's stock.

Insider Transactions at RadNet

In other news, Director David L. Swartz sold 25,000 shares of RadNet stock in a transaction that occurred on Friday, March 7th. The stock was sold at an average price of $50.84, for a total transaction of $1,271,000.00. Following the completion of the transaction, the director now directly owns 174,067 shares in the company, valued at approximately $8,849,566.28. The trade was a 12.56% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Cornelis Wesdorp sold 1,000 shares of the stock in a transaction on Friday, March 7th. The shares were 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 approximately $2,828,867.40. This trade represents a 1.75% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 46,447 shares of company stock worth $2,433,550 in the last ninety days. Insiders own 5.12% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on RDNT shares. Raymond James upgraded 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 report on Wednesday, March 5th. Wall Street Zen cut RadNet from a "hold" rating to a "sell" rating in a research note on Thursday. Truist Financial dropped their target price on shares of RadNet from $88.00 to $74.00 and set a "buy" rating on the stock in a report on Friday, April 11th. Finally, Barclays reduced their price target on shares of RadNet from $74.00 to $60.00 and set an "overweight" rating for the company in a report on Monday, March 24th. One 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's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Buy" and an average price target of $69.75.

RadNet Stock Down 0.6%

RadNet stock traded down $0.33 during midday trading on Friday, reaching $56.45. The stock had a trading volume of 137,454 shares, compared to its average volume of 683,937. RadNet, Inc. has a 1-year low of $45.00 and a 1-year high of $93.65. The company has a debt-to-equity ratio of 0.89, a quick ratio of 2.16 and a current ratio of 2.16. The firm's fifty day simple moving average is $52.65 and its 200-day simple moving average is $62.95. The stock has a market capitalization of $4.24 billion, a P/E ratio of -805.97 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 for the quarter, beating the consensus estimate 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 positive return on equity of 4.29% and a negative net margin of 0.25%. As a group, analysts expect that RadNet, Inc. will post 0.56 EPS for the current fiscal year.

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.