RadNet, Inc. (NASDAQ:RDNT) Shares Bought by Two Sigma Advisers LP

Two Sigma Advisers LP raised its stake in shares of RadNet, Inc. (NASDAQ:RDNT - Free Report) by 217.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 24,100 shares of the medical research company's stock after purchasing an additional 16,500 shares during the period. Two Sigma Advisers LP's holdings in RadNet were worth $1,683,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in RDNT. Barclays PLC raised its position in RadNet by 373.8% during the third quarter. Barclays PLC now owns 116,978 shares of the medical research company's stock valued at $8,118,000 after purchasing an additional 92,291 shares during the period. Nisa Investment Advisors LLC raised its position in RadNet by 20.0% during the fourth quarter. Nisa Investment Advisors LLC now owns 4,291 shares of the medical research company's stock valued at $300,000 after purchasing an additional 716 shares during the period. Fifth Third Bancorp raised its position in RadNet by 84.3% during 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. KBC Group NV raised its position in RadNet by 47.6% during the fourth quarter. KBC Group NV now owns 2,678 shares of the medical research company's stock valued at $187,000 after purchasing an additional 864 shares during the period. Finally, Highland Capital Management LLC raised its position in RadNet by 6.5% during the fourth quarter. Highland Capital Management LLC now owns 3,307 shares of the medical research company's stock valued at $231,000 after purchasing an additional 202 shares during the period. 77.90% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at RadNet

In related news, CEO Cornelis Wesdorp sold 1,000 shares of RadNet stock in a transaction that occurred 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director David L. Swartz sold 25,000 shares of the firm's stock in a transaction on Friday, March 7th. The stock was sold at an average price of $50.84, for a total value of $1,271,000.00. Following the transaction, the director now 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. In the last ninety days, insiders have sold 101,447 shares of company stock worth $5,539,950. Company insiders own 5.12% of the company's stock.

RadNet Price Performance

Shares of NASDAQ RDNT traded up $0.44 during midday trading on Tuesday, hitting $58.70. The stock had a trading volume of 452,723 shares, compared to its average volume of 691,364. RadNet, Inc. has a 1 year low of $45.00 and a 1 year high of $93.65. 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 stock has a 50 day simple moving average of $53.71 and a 200-day simple moving average of $61.72. The company has a market capitalization of $4.40 billion, a PE ratio of -838.45 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 (EPS) 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 negative net margin of 0.25% and a positive return on equity of 4.29%. On average, sell-side analysts expect that RadNet, Inc. will post 0.56 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on RDNT. Barclays reduced their price target on RadNet from $74.00 to $60.00 and set an "overweight" rating on the stock in a report on Monday, March 24th. Raymond James upgraded RadNet from an "outperform" rating to a "strong-buy" rating and reduced their price target for the stock from $85.00 to $65.00 in a report on Wednesday, March 5th. Truist Financial reduced their price target on RadNet from $88.00 to $74.00 and set a "buy" rating on the stock in a report on Friday, April 11th. Finally, Wall Street Zen downgraded RadNet from a "hold" rating to a "sell" rating in a report on Thursday, May 22nd. One equities research 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 stock. According to data from MarketBeat.com, the company presently has an average rating of "Buy" and a consensus target price 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.