RadNet, Inc. (NASDAQ:RDNT) Shares Acquired by Axiom Investors LLC DE

Axiom Investors LLC DE raised its stake in RadNet, Inc. (NASDAQ:RDNT) by 46.2% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 279,467 shares of the medical research company’s stock after purchasing an additional 88,372 shares during the period. Axiom Investors LLC DE owned 0.38% of RadNet worth $19,518,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. USA Financial Formulas purchased a new stake in RadNet in the fourth quarter valued at $30,000. Fifth Third Bancorp lifted its holdings in shares of RadNet by 84.3% in the 4th quarter. Fifth Third Bancorp now owns 667 shares of the medical research company’s stock valued at $47,000 after purchasing an additional 305 shares during the last quarter. Smartleaf Asset Management LLC boosted its position 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 valued at $96,000 after purchasing an additional 1,063 shares during the period. Twin Tree Management LP purchased a new position in RadNet during the 4th quarter worth approximately $106,000. Finally, IFP Advisors Inc increased its position in RadNet by 39.1% during the fourth quarter. IFP Advisors Inc now owns 1,697 shares of the medical research company’s stock worth $119,000 after buying an additional 477 shares during the period. Institutional investors and hedge funds own 77.90% of the company’s stock.

RadNet Trading Down 2.4 %

Shares of RDNT stock opened at $49.44 on Monday. The firm has a 50-day moving average price of $57.55 and a 200 day moving average price of $67.13. The company has a current ratio of 2.16, a quick ratio of 2.16 and a debt-to-equity ratio of 0.89. The company has a market capitalization of $3.66 billion, a price-to-earnings ratio of -706.18 and a beta of 1.85. RadNet, Inc. has a twelve month low of $45.82 and a twelve month high of $93.65.

RadNet (NASDAQ:RDNT) last posted its quarterly earnings data 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 positive return on equity of 4.29% and a negative net margin of 0.25%. The business had revenue of $477.10 million for the quarter, compared to analysts’ expectations of $459.42 million. Research analysts forecast that RadNet, Inc. will post 0.56 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on RDNT shares. StockNews.com raised RadNet to a “sell” rating in a report on Wednesday, March 19th. Truist Financial reissued a “buy” rating and set a $88.00 price objective (down from $94.00) on shares of RadNet in a research report on Wednesday, January 22nd. 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. Raymond James upgraded shares of RadNet from an “outperform” rating to a “strong-buy” rating and decreased their target price for the stock from $85.00 to $65.00 in a research note on Wednesday, March 5th. Finally, Jefferies Financial Group reduced their price objective on RadNet from $100.00 to $80.00 and set a “buy” rating for the company in a research note on Wednesday, January 15th. One investment analyst has rated the stock with a sell rating, three have assigned a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus target price of $73.25.

Insider Activity

In other RadNet news, CEO Cornelis Wesdorp sold 1,000 shares of the company’s stock in a transaction dated Friday, March 7th. The stock was sold at an average price of $50.52, for a total transaction of $50,520.00. Following the completion of the sale, the chief executive officer now directly owns 55,995 shares in the company, valued at $2,828,867.40. This represents a 1.75 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director David L. Swartz sold 25,000 shares of RadNet stock in a transaction dated 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 completion of the transaction, the director now directly owns 174,067 shares in the company, valued at $8,849,566.28. This represents a 12.56 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 38,000 shares of company stock valued at $1,926,730 in the last ninety days. Company insiders own 5.12% of the company’s stock.

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.