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

Two Sigma Investments LP lifted its stake in RadNet, Inc. (NASDAQ:RDNT - Free Report) by 46.0% during the 4th quarter, according to the company in its most recent disclosure 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 approximately 0.11% of RadNet worth $5,662,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Norges Bank bought a new position in shares of RadNet during the 4th quarter valued at $56,381,000. Raymond James Financial Inc. purchased a new position in RadNet in the fourth quarter worth about $33,090,000. T. Rowe Price Investment Management Inc. grew its position in RadNet by 79.3% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 913,691 shares of the medical research company's stock worth $63,813,000 after acquiring an additional 404,241 shares in the last quarter. Tidal Investments LLC grew its position in RadNet by 7,219.2% in the fourth quarter. Tidal Investments LLC now owns 389,308 shares of the medical research company's stock worth $27,189,000 after acquiring an additional 383,989 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC lifted its stake in RadNet by 30.4% in 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 purchasing an additional 344,146 shares during the last quarter. Hedge funds and other institutional investors own 77.90% of the company's stock.

Insider Activity at RadNet

In other RadNet news, CEO Cornelis Wesdorp sold 2,000 shares of the firm's stock in a transaction dated 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 directly 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 sale was disclosed in a filing with the SEC, which is available through this link. Also, COO Norman R. Hames sold 5,000 shares of the firm's stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $49.79, for a total transaction of $248,950.00. Following the completion of the transaction, the chief operating officer now owns 261,959 shares of the company's stock, valued at approximately $13,042,938.61. The trade was a 1.87% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 101,447 shares of company stock valued at $5,539,950 over the last ninety days. Corporate insiders own 5.12% of the company's stock.

RadNet Price Performance

RDNT traded up $2.59 during midday trading on Friday, reaching $57.78. 1,250,804 shares of the company's stock were exchanged, compared to its average volume of 690,791. The company has a debt-to-equity ratio of 0.89, a current ratio of 2.16 and a quick ratio of 2.16. The stock has a market capitalization of $4.34 billion, a PE ratio of -825.31 and a beta of 1.46. The business's 50-day moving average price is $53.40 and its 200 day moving average price is $62.03. RadNet, Inc. has a 1-year low of $45.00 and a 1-year high of $93.65.

RadNet (NASDAQ:RDNT - Get Free Report) last released its earnings results on Thursday, February 27th. The medical research company reported $0.22 earnings per share (EPS) 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 firm had revenue of $477.10 million during the quarter, compared to the consensus estimate of $459.42 million. As a group, equities analysts anticipate that RadNet, Inc. will post 0.56 EPS for the current fiscal year.

Analysts Set New Price Targets

Several analysts have recently weighed in on the stock. Raymond James raised shares of RadNet from an "outperform" rating to a "strong-buy" rating and decreased their price target for the company from $85.00 to $65.00 in a research note on Wednesday, March 5th. Wall Street Zen lowered shares of RadNet from a "hold" rating to a "sell" rating in a report on Thursday, May 22nd. Truist Financial cut their price target on shares of RadNet from $88.00 to $74.00 and set a "buy" rating on the stock in a report on Friday, April 11th. Finally, Barclays decreased their target price on shares of RadNet from $74.00 to $60.00 and set an "overweight" rating for the company in a research report on Monday, March 24th. One equities research 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 stock. According to MarketBeat, the stock currently has an average 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.