RadNet, Inc. (NASDAQ:RDNT) Shares Acquired by RTW Investments LP

RTW Investments LP grew its stake in shares of RadNet, Inc. (NASDAQ:RDNT - Free Report) by 9.4% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,978,582 shares of the medical research company's stock after acquiring an additional 169,978 shares during the quarter. RadNet comprises approximately 2.1% of RTW Investments LP's investment portfolio, making the stock its 19th largest holding. RTW Investments LP owned about 2.67% of RadNet worth $138,184,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. USA Financial Formulas purchased a new position in shares of RadNet in the fourth quarter worth $30,000. Fifth Third Bancorp raised its holdings in shares of RadNet by 84.3% in the fourth quarter. Fifth Third Bancorp now owns 667 shares of the medical research company's stock worth $47,000 after buying an additional 305 shares during the last quarter. Smartleaf Asset Management LLC raised its holdings in shares of RadNet by 377.0% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,345 shares of the medical research company's stock worth $96,000 after buying an additional 1,063 shares during the last quarter. Tower Research Capital LLC TRC raised its holdings in shares of RadNet by 42.2% in the fourth quarter. Tower Research Capital LLC TRC now owns 1,422 shares of the medical research company's stock worth $99,000 after buying an additional 422 shares during the last quarter. Finally, Canada Pension Plan Investment Board purchased a new position in shares of RadNet in the fourth quarter worth $105,000. 77.90% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at RadNet

In related news, COO Norman R. Hames sold 5,000 shares of the firm's stock in a transaction on Monday, March 17th. The shares were sold at an average price of $49.79, for a total transaction of $248,950.00. Following the sale, the chief operating officer now owns 261,959 shares in the company, valued at approximately $13,042,938.61. This trade represents a 1.87% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Cornelis Wesdorp sold 1,000 shares of the firm's stock in a transaction on Friday, March 7th. The shares were sold at an average price of $50.52, for a total transaction of $50,520.00. Following the sale, the chief executive officer now owns 55,995 shares in the company, valued at approximately $2,828,867.40. This represents a 1.75% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 46,447 shares of company stock worth $2,433,550. 5.12% of the stock is owned by company insiders.

Analysts Set New Price Targets

RDNT has been the subject of a number of research analyst reports. Truist Financial decreased their price target on shares of RadNet from $88.00 to $74.00 and set a "buy" rating for the company in a report on Friday, April 11th. Raymond James raised shares of RadNet from an "outperform" rating to a "strong-buy" rating and reduced their target price for the stock from $85.00 to $65.00 in a report on Wednesday, March 5th. StockNews.com raised shares of RadNet to a "sell" rating in a report on Monday, May 12th. Finally, Barclays reduced their target price on shares of RadNet from $74.00 to $60.00 and set an "overweight" rating for the company in a 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 company. According to MarketBeat.com, the company presently has an average rating of "Buy" and a consensus target price of $69.75.

RadNet Stock Performance

Shares of RadNet stock traded down $0.48 during trading on Monday, hitting $60.66. 547,297 shares of the company's stock were exchanged, compared to its average volume of 683,895. The stock has a market capitalization of $4.55 billion, a price-to-earnings ratio of -866.45 and a beta of 1.46. The company has a debt-to-equity ratio of 0.89, a quick ratio of 2.16 and a current ratio of 2.16. The business has a 50-day simple moving average of $51.98 and a 200-day simple moving average of $63.09. RadNet, Inc. has a 52-week low of $45.00 and a 52-week high of $93.65.

RadNet (NASDAQ:RDNT - Get Free Report) last released its quarterly earnings results on Thursday, February 27th. The medical research company reported $0.22 EPS for the quarter, beating the consensus estimate of $0.21 by $0.01. The company had revenue of $477.10 million for the quarter, compared to analyst estimates of $459.42 million. RadNet had a negative net margin of 0.25% and a positive return on equity of 4.29%. On average, research analysts forecast that RadNet, Inc. will post 0.56 EPS 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.