Two Sigma Advisers LP Acquires 16,500 Shares of RadNet, Inc. (NASDAQ:RDNT)

Two Sigma Advisers LP boosted its position in 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 & Exchange Commission. The fund owned 24,100 shares of the medical research company's stock after acquiring an additional 16,500 shares during the quarter. Two Sigma Advisers LP's holdings in RadNet were worth $1,683,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also added to or reduced their stakes in the company. Fifth Third Bancorp increased its position in shares of RadNet by 84.3% during the 4th 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 last quarter. Smartleaf Asset Management LLC grew its position in RadNet by 377.0% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,345 shares of the medical research company's stock valued at $96,000 after acquiring 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 fourth quarter. Tower Research Capital LLC TRC now owns 1,422 shares of the medical research company's stock worth $99,000 after acquiring an additional 422 shares in the last quarter. Canada Pension Plan Investment Board bought a new stake in shares of RadNet in the 4th quarter worth approximately $105,000. Finally, Twin Tree Management LP purchased a new stake in shares of RadNet in the 4th quarter valued at $106,000. Hedge funds and other institutional investors own 77.90% of the company's stock.

RadNet Trading Up 4.7%

Shares of NASDAQ:RDNT traded up $2.59 during midday trading on Friday, hitting $57.78. 1,250,804 shares of the stock traded hands, compared to its average volume of 690,791. 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 business's 50 day moving average is $53.40 and its two-hundred day moving average is $62.03. The stock has a market capitalization of $4.34 billion, a PE ratio of -825.31 and a beta of 1.46. RadNet, Inc. has a one year low of $45.00 and a one year high of $93.65.

RadNet (NASDAQ:RDNT - Get Free Report) last released its quarterly earnings data on Thursday, February 27th. The medical research company reported $0.22 earnings per share for the quarter, topping the consensus estimate of $0.21 by $0.01. The business 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, research analysts forecast that RadNet, Inc. will post 0.56 earnings per share for the current year.

Insider Activity

In other RadNet news, COO Norman R. Hames sold 5,536 shares of the firm's stock in a transaction on Thursday, May 15th. The stock was sold at an average price of $60.00, for a total transaction of $332,160.00. Following the completion of the transaction, the chief operating officer now owns 249,183 shares of the company's stock, valued at approximately $14,950,980. This trade represents a 2.17% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Alma Gregory Sorensen sold 55,000 shares of the stock in a transaction dated Friday, May 23rd. The stock was sold at an average price of $56.48, for a total transaction of $3,106,400.00. Following the completion of the transaction, the executive vice president now owns 1,160,509 shares of the company's stock, valued at approximately $65,545,548.32. The trade was a 4.52% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 101,447 shares of company stock worth $5,539,950 in the last quarter. 5.12% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

RDNT has been the topic of a number of analyst reports. Raymond James upgraded shares of RadNet from an "outperform" rating to a "strong-buy" rating and decreased their target price for the stock from $85.00 to $65.00 in a research report on Wednesday, March 5th. Truist Financial decreased their price objective on RadNet from $88.00 to $74.00 and set a "buy" rating on the stock in a report on Friday, April 11th. Barclays lowered their target price on RadNet from $74.00 to $60.00 and set an "overweight" rating for the company in a research note on Monday, March 24th. Finally, Wall Street Zen lowered RadNet from a "hold" rating to a "sell" rating in a research report on Thursday, May 22nd. One analyst has rated the stock with a sell rating, three have issued a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Buy" and a consensus target price of $69.75.

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.