Alyeska Investment Group L.P. Grows Holdings in RadNet, Inc. (NASDAQ:RDNT)

Alyeska Investment Group L.P. raised its holdings in RadNet, Inc. (NASDAQ:RDNT - Free Report) by 108.6% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 502,612 shares of the medical research company's stock after buying an additional 261,711 shares during the quarter. Alyeska Investment Group L.P. owned 0.68% of RadNet worth $35,102,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of RDNT. USA Financial Formulas acquired a new position in shares of RadNet during the 4th quarter valued at $30,000. Fifth Third Bancorp raised its position in shares of RadNet by 84.3% during the fourth quarter. Fifth Third Bancorp now owns 667 shares of the medical research company's stock worth $47,000 after purchasing an additional 305 shares during the period. Smartleaf Asset Management LLC lifted its holdings in shares of RadNet by 377.0% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,345 shares of the medical research company's stock worth $96,000 after purchasing an additional 1,063 shares in the last quarter. Tower Research Capital LLC TRC grew its position in RadNet by 42.2% in the 4th quarter. Tower Research Capital LLC TRC now owns 1,422 shares of the medical research company's stock valued at $99,000 after purchasing an additional 422 shares during the period. Finally, Canada Pension Plan Investment Board bought a new stake in RadNet during the 4th quarter valued at $105,000. 77.90% of the stock is currently owned by institutional investors.

Insider Transactions at RadNet

In related news, COO Norman R. Hames sold 5,000 shares of the business's stock in a transaction that occurred on Wednesday, March 19th. The shares were sold at an average price of $50.22, for a total transaction of $251,100.00. Following the completion of the transaction, 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director David L. Swartz sold 25,000 shares of the company's stock in a transaction that occurred on Friday, March 7th. The stock was sold at an average price of $50.84, for a total transaction of $1,271,000.00. Following the sale, the director now directly owns 174,067 shares in the company, valued at $8,849,566.28. This trade represents a 12.56 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 38,000 shares of company stock valued at $1,926,730 over the last three months. Company insiders own 5.12% of the company's stock.

Wall Street Analyst Weigh In

Several research firms recently weighed in on RDNT. Jefferies Financial Group cut their price target on shares of RadNet from $100.00 to $80.00 and set a "buy" rating on the stock in a report on Wednesday, January 15th. Truist Financial decreased their price target on RadNet from $88.00 to $74.00 and set a "buy" rating for the company in a research report on Friday, April 11th. Raymond James raised RadNet from an "outperform" rating to a "strong-buy" rating and cut their price objective for the stock from $85.00 to $65.00 in a research report on Wednesday, March 5th. StockNews.com raised RadNet to a "sell" rating in a research report on Wednesday, March 19th. Finally, Barclays cut their price target on shares of RadNet from $74.00 to $60.00 and set an "overweight" rating on the stock in a report on Monday, March 24th. One analyst has rated the stock with a sell rating, three have assigned a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Buy" and an average price target of $69.75.

RadNet Stock Performance

Shares of RDNT stock traded up $0.40 on Friday, hitting $56.78. 944,333 shares of the stock were exchanged, compared to its average volume of 668,758. The firm's 50 day moving average is $50.69 and its two-hundred day moving average is $63.49. RadNet, Inc. has a one year low of $45.00 and a one year high of $93.65. The firm has a market capitalization of $4.26 billion, a PE ratio of -811.03 and a beta of 1.46. The company has a current ratio of 2.16, a quick ratio of 2.16 and a debt-to-equity ratio of 0.89.

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

About RadNet

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.