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

Tidal Investments LLC boosted its holdings in shares of RadNet, Inc. (NASDAQ:RDNT - Free Report) by 7,219.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 389,308 shares of the medical research company's stock after purchasing an additional 383,989 shares during the period. Tidal Investments LLC owned about 0.53% of RadNet worth $27,189,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in RDNT. Sherbrooke Park Advisers LLC bought a new position in shares of RadNet during the 4th quarter worth approximately $342,000. Silvercrest Asset Management Group LLC lifted its holdings in shares of RadNet by 0.7% during the fourth quarter. Silvercrest Asset Management Group LLC now owns 461,138 shares of the medical research company's stock valued at $32,206,000 after acquiring an additional 3,368 shares during the period. RTW Investments LP lifted its holdings in shares of RadNet by 9.4% during the fourth quarter. RTW Investments LP now owns 1,978,582 shares of the medical research company's stock valued at $138,184,000 after acquiring an additional 169,978 shares during the period. ProShare Advisors LLC boosted its stake in shares of RadNet by 44.5% in the 4th quarter. ProShare Advisors LLC now owns 19,906 shares of the medical research company's stock valued at $1,390,000 after purchasing an additional 6,134 shares in the last quarter. Finally, Man Group plc grew its holdings in shares of RadNet by 181.5% in the 4th quarter. Man Group plc now owns 25,881 shares of the medical research company's stock worth $1,808,000 after purchasing an additional 16,686 shares during the last quarter. 77.90% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other RadNet news, COO Norman R. Hames sold 5,000 shares of the firm's stock in a transaction that occurred on Monday, March 17th. The shares were sold at an average price of $49.79, for a total value of $248,950.00. Following the transaction, the chief operating officer now directly owns 261,959 shares of the company's stock, valued at approximately $13,042,938.61. This trade represents a 1.87% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Cornelis Wesdorp sold 1,000 shares of RadNet stock in a transaction on Friday, March 7th. The stock was sold at an average price of $50.52, for a total transaction of $50,520.00. Following the sale, the chief executive officer now directly owns 55,995 shares of the company's stock, valued at $2,828,867.40. This represents a 1.75% decrease in their position. 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. 5.12% of the stock is currently owned by insiders.

RadNet Price Performance

RDNT traded down $1.29 during midday trading on Thursday, hitting $56.77. The company had a trading volume of 491,724 shares, compared to its average volume of 684,772. RadNet, Inc. has a twelve month low of $45.00 and a twelve month high of $93.65. The firm's 50-day simple moving average is $52.49 and its 200-day simple moving average is $63.03. The company has a market capitalization of $4.26 billion, a PE ratio of -810.88 and a beta of 1.46. The company has a debt-to-equity ratio of 0.89, a quick ratio of 2.16 and a current ratio of 2.16.

RadNet (NASDAQ:RDNT - Get Free Report) last issued its quarterly earnings results on Thursday, February 27th. The medical research company reported $0.22 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.21 by $0.01. The business had revenue of $477.10 million for the quarter, compared to analyst estimates of $459.42 million. RadNet had a positive return on equity of 4.29% and a negative net margin of 0.25%. Equities research analysts predict that RadNet, Inc. will post 0.56 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the stock. Truist Financial cut their price target on shares of RadNet from $88.00 to $74.00 and set a "buy" rating for the company in a report on Friday, April 11th. Barclays dropped their price objective 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. Wall Street Zen downgraded RadNet from a "hold" rating to a "sell" rating in a report on Thursday. Finally, Raymond James upgraded RadNet from an "outperform" rating to a "strong-buy" rating and decreased their price target for the stock from $85.00 to $65.00 in a research report on Wednesday, March 5th. One analyst has rated the stock with a sell rating, three have given a buy rating and two have assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, RadNet currently has a consensus rating of "Buy" and an average price target of $69.75.

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.