Squarepoint Ops LLC Takes $3.41 Million Position in RadNet, Inc. (NASDAQ:RDNT)

Squarepoint Ops LLC bought a new position in shares of RadNet, Inc. (NASDAQ:RDNT - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund bought 48,779 shares of the medical research company's stock, valued at approximately $3,407,000. Squarepoint Ops LLC owned about 0.07% of RadNet as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. KBC Group NV boosted its holdings in shares of RadNet by 47.6% during the 4th quarter. KBC Group NV now owns 2,678 shares of the medical research company's stock worth $187,000 after purchasing an additional 864 shares during 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 worth $103,532,000 after buying an additional 344,146 shares in the last quarter. WCM Investment Management LLC acquired a new position in RadNet during the fourth quarter worth $14,110,000. Guidance Capital Inc. purchased a new stake in RadNet in the 4th quarter valued at $467,000. Finally, JPMorgan Chase & Co. grew its holdings in RadNet by 154.8% in the 4th quarter. JPMorgan Chase & Co. now owns 338,843 shares of the medical research company's stock valued at $23,665,000 after buying an additional 205,846 shares in the last quarter. 77.90% of the stock is currently owned by institutional investors and hedge funds.

RadNet Trading Down 2.5%

RDNT traded down $1.39 on Wednesday, hitting $55.29. The company had a trading volume of 525,668 shares, compared to its average volume of 686,610. The company's fifty day moving average price is $53.19 and its 200 day moving average price is $62.56. RadNet, Inc. has a 1 year low of $45.00 and a 1 year high of $93.65. The company has a current ratio of 2.16, a quick ratio of 2.16 and a debt-to-equity ratio of 0.89. The firm has a market cap of $4.15 billion, a P/E ratio of -789.74 and a beta of 1.46.

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

Analysts Set New Price Targets

Several research analysts have recently weighed in on RDNT shares. Raymond James raised shares of RadNet from an "outperform" rating to a "strong-buy" rating and lowered their price target for the company from $85.00 to $65.00 in a research report on Wednesday, March 5th. Barclays decreased their target price on shares of RadNet from $74.00 to $60.00 and set an "overweight" rating on the stock in a report on Monday, March 24th. Truist Financial dropped their price target on shares of 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 lowered shares of RadNet from a "hold" rating to a "sell" rating in a research report on Thursday, May 22nd. One research analyst has rated the stock with a sell rating, three have assigned a buy rating and two have assigned a strong buy rating to the company's stock. Based on data from MarketBeat, RadNet presently has an average rating of "Buy" and an average target price of $69.75.

Insider Buying and Selling at RadNet

In other RadNet news, COO Norman R. Hames sold 5,536 shares of RadNet stock in a transaction dated Thursday, May 15th. The stock was sold at an average price of $60.00, for a total value of $332,160.00. Following the completion of the transaction, the chief operating officer now directly owns 249,183 shares of the company's stock, valued at $14,950,980. The trade was a 2.17% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Cornelis Wesdorp sold 2,000 shares of the business's stock in a transaction dated Wednesday, March 5th. The stock was sold at an average price of $52.58, for a total transaction of $105,160.00. Following the sale, the chief executive officer now owns 58,995 shares in the company, valued at $3,101,957.10. This trade represents a 3.28% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 46,447 shares of company stock valued at $2,433,550 over the last quarter. 5.12% of the stock is owned by company insiders.

RadNet 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.