Susquehanna Fundamental Investments LLC Acquires New Position in RadNet, Inc. (NASDAQ:RDNT)

Susquehanna Fundamental Investments LLC acquired a new position in shares of RadNet, Inc. (NASDAQ:RDNT - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 8,184 shares of the medical research company's stock, valued at approximately $572,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. boosted its holdings in 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 buying an additional 71,910 shares in the last quarter. Invesco Ltd. grew its holdings in shares of RadNet by 4.3% in the 4th quarter. Invesco Ltd. now owns 1,731,074 shares of the medical research company's stock worth $120,898,000 after acquiring an additional 70,673 shares during the period. Principal Financial Group Inc. increased its stake in RadNet by 8.5% in the 3rd quarter. Principal Financial Group Inc. now owns 1,506,545 shares of the medical research company's stock valued at $104,539,000 after purchasing an additional 118,501 shares in the last quarter. Allspring Global Investments Holdings LLC raised its holdings in RadNet by 30.4% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 1,475,995 shares of the medical research company's stock worth $103,532,000 after purchasing an additional 344,146 shares during the last quarter. Finally, Hood River Capital Management LLC boosted its position in RadNet by 3.1% during the fourth quarter. Hood River Capital Management LLC now owns 1,322,879 shares of the medical research company's stock worth $92,390,000 after purchasing an additional 39,881 shares in the last quarter. Hedge funds and other institutional investors own 77.90% of the company's stock.

Insider Transactions at RadNet

In other news, COO Norman R. Hames sold 5,000 shares of RadNet stock in a transaction dated Wednesday, March 19th. The stock was sold at an average price of $50.22, for a total transaction of $251,100.00. Following the sale, the chief operating officer now directly 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 can be accessed through this hyperlink. Also, 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 owns 174,067 shares of the company's stock, valued at approximately $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 a total of 38,000 shares of company stock worth $1,926,730 in the last ninety days. Insiders own 5.12% of the company's stock.

RadNet Trading Up 0.2 %

RadNet stock traded up $0.14 during trading on Friday, hitting $56.52. The company's stock had a trading volume of 741,069 shares, compared to its average volume of 870,298. The stock's fifty day moving average is $50.69 and its 200 day moving average is $63.49. 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, Inc. has a 1-year low of $45.00 and a 1-year high of $93.65. The stock has a market capitalization of $4.24 billion, a price-to-earnings ratio of -807.31 and a beta of 1.46.

RadNet (NASDAQ:RDNT - Get Free Report) last released its 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. The business had revenue of $477.10 million for the quarter, compared to analysts' expectations of $459.42 million. RadNet had a negative net margin of 0.25% and a positive return on equity of 4.29%. As a group, equities research analysts predict that RadNet, Inc. will post 0.56 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on RDNT. Jefferies Financial Group dropped their price target on RadNet from $100.00 to $80.00 and set a "buy" rating for the company in a research report on Wednesday, January 15th. Raymond James upgraded shares of RadNet from an "outperform" rating to a "strong-buy" rating and cut their target price for the stock from $85.00 to $65.00 in a research report on Wednesday, March 5th. Barclays lowered their price target on shares of RadNet from $74.00 to $60.00 and set an "overweight" rating on the stock in a research report on Monday, March 24th. StockNews.com upgraded RadNet to a "sell" rating in a research report on Wednesday, March 19th. Finally, Truist Financial dropped 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. One investment analyst has rated the stock with a sell rating, three have issued a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, RadNet currently has an average rating of "Buy" and a consensus 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.