Alyeska Investment Group L.P. Buys 261,711 Shares of RadNet, Inc. (NASDAQ:RDNT)

Alyeska Investment Group L.P. boosted 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 Securities and Exchange Commission. The institutional investor owned 502,612 shares of the medical research company's stock after acquiring an additional 261,711 shares during the quarter. Alyeska Investment Group L.P. owned about 0.68% of RadNet worth $35,102,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of RDNT. Barclays PLC raised its holdings 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 worth $8,118,000 after purchasing an additional 92,291 shares in the last quarter. Franklin Resources Inc. boosted its stake in shares of RadNet by 12.0% during the 3rd quarter. Franklin Resources Inc. now owns 387,061 shares of the medical research company's stock worth $27,334,000 after acquiring an additional 41,381 shares in the last quarter. Principal Financial Group Inc. raised its position in shares of RadNet by 8.5% during the third quarter. Principal Financial Group Inc. now owns 1,506,545 shares of the medical research company's stock worth $104,539,000 after purchasing an additional 118,501 shares during the period. JPMorgan Chase & Co. boosted its position in shares of RadNet by 1.4% in the 3rd quarter. JPMorgan Chase & Co. now owns 132,997 shares of the medical research company's stock valued at $9,229,000 after purchasing an additional 1,838 shares during the period. Finally, Harbor Capital Advisors Inc. raised its holdings in RadNet by 3.2% during the 4th quarter. Harbor Capital Advisors Inc. now owns 415,000 shares of the medical research company's stock worth $28,984,000 after buying an additional 12,795 shares during the period. 77.90% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

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

RadNet Price Performance

RDNT traded up $0.17 during midday trading on Tuesday, reaching $53.30. 632,472 shares of the company's stock were exchanged, compared to its average volume of 664,694. The company has a quick ratio of 2.16, a current ratio of 2.16 and a debt-to-equity ratio of 0.89. The business has a 50-day simple moving average of $50.68 and a two-hundred day simple moving average of $63.70. The firm has a market capitalization of $4.00 billion, a price-to-earnings ratio of -761.32 and a beta of 1.46. RadNet, Inc. has a one year low of $45.00 and a one year high of $93.65.

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

Insider Buying and Selling

In related news, COO Norman R. Hames sold 5,000 shares of the stock in a transaction that occurred on Monday, March 17th. The stock was sold at an average price of $49.79, for a total transaction of $248,950.00. Following the sale, the chief operating officer now directly owns 261,959 shares in the company, valued at $13,042,938.61. This represents a 1.87 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Cornelis Wesdorp sold 2,000 shares of RadNet stock in a transaction on 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 owns 58,995 shares of the company's stock, valued at approximately $3,101,957.10. The trade was a 3.28 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 38,000 shares of company stock worth $1,926,730 in the last quarter. 5.12% of the stock is owned by corporate insiders.

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.