National Bank of Canada FI Increases Stock Position in RadNet, Inc. (NASDAQ:RDNT)

National Bank of Canada FI lifted its stake in RadNet, Inc. (NASDAQ:RDNT - Free Report) by 1,926.1% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 7,760 shares of the medical research company's stock after buying an additional 7,377 shares during the period. National Bank of Canada FI's holdings in RadNet were worth $542,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in RDNT. BNP Paribas Financial Markets increased its holdings in shares of RadNet by 128.2% in the 3rd quarter. BNP Paribas Financial Markets now owns 15,447 shares of the medical research company's stock valued at $1,072,000 after acquiring an additional 8,677 shares during the period. HighTower Advisors LLC increased its position in RadNet by 1.8% in the 3rd quarter. HighTower Advisors LLC now owns 7,861 shares of the medical research company's stock valued at $545,000 after acquiring an additional 136 shares during the period. State Street Corp raised its stake in RadNet by 1.3% during the 3rd quarter. State Street Corp now owns 2,446,179 shares of the medical research company's stock valued at $169,740,000 after acquiring an additional 30,244 shares during the last quarter. Wolverine Trading LLC lifted its position in RadNet by 28.6% during the 3rd quarter. Wolverine Trading LLC now owns 4,502 shares of the medical research company's stock worth $312,000 after acquiring an additional 1,002 shares during the period. Finally, Barclays PLC grew its stake in shares of RadNet by 373.8% in the 3rd 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 last quarter. Hedge funds and other institutional investors own 77.90% of the company's stock.

RadNet Price Performance

RadNet stock traded up $0.15 during midday trading on Tuesday, reaching $53.51. 116,527 shares of the company were exchanged, compared to its average volume of 651,114. The firm's 50-day simple moving average is $53.94 and its 200-day simple moving average is $65.54. RadNet, Inc. has a 1 year low of $45.00 and a 1 year high of $93.65. The company has a market capitalization of $3.96 billion, a price-to-earnings ratio of -764.42 and a beta of 1.59. The company has a debt-to-equity ratio of 0.89, a quick ratio of 2.16 and a current ratio of 2.16.

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. 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 for the quarter, compared to the consensus estimate of $459.42 million. On average, analysts anticipate that RadNet, Inc. will post 0.56 EPS for the current year.

Insider Activity

In other news, Director David L. Swartz sold 25,000 shares of the business's stock in a transaction on Friday, March 7th. The shares were sold at an average price of $50.84, for a total transaction of $1,271,000.00. Following the completion of the sale, the director now directly owns 174,067 shares of the company's stock, valued at $8,849,566.28. The trade was a 12.56 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, COO Norman R. Hames sold 5,000 shares of the company's stock in a transaction on Wednesday, March 19th. The stock was sold at an average price of $50.22, for a total value of $251,100.00. Following the sale, the chief operating officer now owns 251,959 shares of the company's stock, valued at approximately $12,653,380.98. The trade was a 1.95 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 38,000 shares of company stock valued at $1,926,730 in the last 90 days. 5.12% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of brokerages have commented on RDNT. Jefferies Financial Group cut their price objective on shares of RadNet from $100.00 to $80.00 and set a "buy" rating for the company in a research report on Wednesday, January 15th. Barclays cut 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. Truist Financial reduced their target price on RadNet from $88.00 to $74.00 and set a "buy" rating for the company in a report on Friday. StockNews.com raised shares of RadNet to a "sell" rating in a research note on Wednesday, March 19th. Finally, Raymond James upgraded shares of RadNet from an "outperform" rating to a "strong-buy" rating and lowered their target price for the stock from $85.00 to $65.00 in a research report on Wednesday, March 5th. 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, the company has a consensus rating of "Buy" and an average price target 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.