Two Sigma Investments LP Purchases 25,529 Shares of RadNet, Inc. (NASDAQ:RDNT)

Two Sigma Investments LP boosted its stake in shares of RadNet, Inc. (NASDAQ:RDNT - Free Report) by 46.0% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 81,065 shares of the medical research company's stock after buying an additional 25,529 shares during the period. Two Sigma Investments LP owned about 0.11% of RadNet worth $5,662,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. KBC Group NV raised its holdings in 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 buying an additional 864 shares during the period. Allspring Global Investments Holdings LLC raised its holdings in RadNet by 30.4% during the 4th 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 during the period. WCM Investment Management LLC acquired a new stake in RadNet during the 4th quarter worth about $14,110,000. Guidance Capital Inc. acquired a new stake in RadNet during the 4th quarter worth about $467,000. Finally, JPMorgan Chase & Co. increased its holdings in shares of 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 purchasing an additional 205,846 shares during the period. Institutional investors and hedge funds own 77.90% of the company's stock.

Insiders Place Their Bets

In related news, COO Norman R. Hames sold 5,536 shares of the company's stock in a transaction on 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 in the company, valued at approximately $14,950,980. This represents a 2.17% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Cornelis Wesdorp sold 2,000 shares of the company's stock in a transaction on Wednesday, March 5th. The shares were sold at an average price of $52.58, for a total value of $105,160.00. Following the completion of the transaction, the chief executive officer now owns 58,995 shares of the company's stock, valued at $3,101,957.10. The trade was a 3.28% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 46,447 shares of company stock valued at $2,433,550 over the last 90 days. 5.12% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on RDNT shares. Barclays dropped their target price on RadNet from $74.00 to $60.00 and set an "overweight" rating on the stock 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, May 22nd. Raymond James upgraded RadNet from an "outperform" rating to a "strong-buy" rating and dropped their target price for the company from $85.00 to $65.00 in a report on Wednesday, March 5th. Finally, Truist Financial dropped their target price on RadNet from $88.00 to $74.00 and set a "buy" rating on the stock in a report on Friday, April 11th. One investment analyst has rated the stock with a sell rating, three have issued a buy rating and two have given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Buy" and a consensus price target of $69.75.

RadNet Stock Down 2.5%

NASDAQ:RDNT traded down $1.39 during mid-day trading on Wednesday, reaching $55.29. The stock had a trading volume of 525,668 shares, compared to its average volume of 686,610. The business's 50 day moving average is $53.19 and its 200 day moving average is $62.56. RadNet, Inc. has a fifty-two week low of $45.00 and a fifty-two week high of $93.65. The stock has a market cap of $4.15 billion, a P/E ratio of -789.74 and a beta of 1.46. The company has a debt-to-equity ratio of 0.89, a current ratio of 2.16 and a quick ratio of 2.16.

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

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.