RTW Investments LP Has $138.18 Million Stock Position in RadNet, Inc. (NASDAQ:RDNT)

RTW Investments LP raised its holdings in RadNet, Inc. (NASDAQ:RDNT - Free Report) by 9.4% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,978,582 shares of the medical research company's stock after buying an additional 169,978 shares during the period. RadNet comprises approximately 2.1% of RTW Investments LP's investment portfolio, making the stock its 19th biggest holding. RTW Investments LP owned approximately 2.67% of RadNet worth $138,184,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in the business. Vanguard Group Inc. boosted its holdings in shares of RadNet by 1.0% during the fourth quarter. Vanguard Group Inc. now owns 7,425,218 shares of the medical research company's stock worth $518,577,000 after acquiring an additional 71,910 shares during the period. Invesco Ltd. lifted its holdings in RadNet by 4.3% during the 4th quarter. Invesco Ltd. now owns 1,731,074 shares of the medical research company's stock worth $120,898,000 after purchasing an additional 70,673 shares during the last quarter. Allspring Global Investments Holdings LLC boosted its stake in RadNet by 30.4% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 1,475,995 shares of the medical research company's stock valued at $103,532,000 after purchasing an additional 344,146 shares during the period. Hood River Capital Management LLC grew its holdings in RadNet by 3.1% in the 4th quarter. Hood River Capital Management LLC now owns 1,322,879 shares of the medical research company's stock valued at $92,390,000 after buying an additional 39,881 shares in the last quarter. Finally, Marshall Wace LLP increased its position in RadNet by 11.5% during the 4th quarter. Marshall Wace LLP now owns 1,222,690 shares of the medical research company's stock worth $85,393,000 after buying an additional 125,844 shares during the period. Institutional investors own 77.90% of the company's stock.

Analyst Ratings Changes

Several equities analysts recently commented on RDNT shares. Barclays decreased their price target on shares of RadNet from $74.00 to $60.00 and set an "overweight" rating on the stock in a research note on Monday, March 24th. StockNews.com raised shares of RadNet to a "sell" rating in a report on Monday, May 12th. Truist Financial lowered their target price 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, Raymond James upgraded shares of RadNet from an "outperform" rating to a "strong-buy" rating and dropped their price target for the company from $85.00 to $65.00 in a research report on Wednesday, March 5th. One research analyst has rated the stock with a sell rating, three have given a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Buy" and a consensus target price of $69.75.

Insider Activity at RadNet

In other news, Director David L. Swartz sold 25,000 shares of the firm's stock in a transaction that occurred on Friday, March 7th. The shares were sold at an average price of $50.84, for a total value of $1,271,000.00. Following the sale, the director now directly owns 174,067 shares in the company, valued at approximately $8,849,566.28. This trade represents a 12.56% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Cornelis Wesdorp sold 1,000 shares of the company's stock in a transaction that occurred on Friday, March 7th. The stock was sold at an average price of $50.52, for a total transaction of $50,520.00. Following the transaction, the chief executive officer now owns 55,995 shares of the company's stock, valued at approximately $2,828,867.40. This represents a 1.75% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 46,447 shares of company stock valued at $2,433,550 over the last ninety days. 5.12% of the stock is owned by corporate insiders.

RadNet Price Performance

RDNT traded down $1.85 on Wednesday, hitting $58.31. 97,555 shares of the stock were exchanged, compared to its average volume of 682,693. The firm has a market capitalization of $4.37 billion, a price-to-earnings ratio of -834.08 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, Inc. has a 12 month low of $45.00 and a 12 month high of $93.65. The business has a 50-day moving average of $52.26 and a two-hundred day moving average of $63.06.

RadNet (NASDAQ:RDNT - Get Free Report) last posted its quarterly earnings results on Thursday, February 27th. The medical research company reported $0.22 earnings per share (EPS) for the quarter, topping 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 analyst estimates of $459.42 million. Sell-side analysts forecast that RadNet, Inc. will post 0.56 EPS for the current fiscal 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.