RadNet, Inc. (NASDAQ:RDNT) Shares Acquired by Alyeska Investment Group L.P.

Alyeska Investment Group L.P. lifted its holdings in RadNet, Inc. (NASDAQ:RDNT) by 108.6% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm 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 0.68% of RadNet worth $35,102,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of RDNT. USA Financial Formulas purchased a new position in shares of RadNet during the 4th quarter valued at approximately $30,000. Fifth Third Bancorp lifted its stake in 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 buying an additional 305 shares in the last quarter. Smartleaf Asset Management LLC boosted its holdings in 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 buying an additional 1,063 shares during the last quarter. Tower Research Capital LLC TRC increased its stake in RadNet by 42.2% during the 4th quarter. Tower Research Capital LLC TRC now owns 1,422 shares of the medical research company’s stock worth $99,000 after buying an additional 422 shares in the last quarter. Finally, Canada Pension Plan Investment Board acquired a new position in shares of RadNet during the fourth quarter valued at approximately $105,000. Institutional investors and hedge funds own 77.90% of the company’s stock.

Insider Activity

In related news, CEO Cornelis Wesdorp sold 2,000 shares of the company’s stock in a transaction that occurred on Wednesday, March 5th. The stock was sold at an average price of $52.58, for a total value of $105,160.00. Following the sale, the chief executive officer now owns 58,995 shares of the company’s stock, valued at approximately $3,101,957.10. This represents a 3.28 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director David L. Swartz sold 25,000 shares of the stock in a transaction 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. The trade was 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 over the last 90 days. 5.12% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the company. 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. Jefferies Financial Group lowered their price objective on shares of RadNet from $100.00 to $80.00 and set a “buy” rating for the company in a research report on Wednesday, January 15th. Barclays reduced 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. Raymond James upgraded RadNet from an “outperform” rating to a “strong-buy” rating and reduced their price objective for the company from $85.00 to $65.00 in a research note on Wednesday, March 5th. Finally, StockNews.com upgraded RadNet to a “sell” rating in a report on Wednesday, March 19th. 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 company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average target price of $69.75.

RadNet Price Performance

Shares of RDNT opened at $53.38 on Friday. 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 fifty-two week low of $45.00 and a fifty-two week high of $93.65. The firm has a 50-day simple moving average of $50.80 and a 200-day simple moving average of $63.83. The company has a market capitalization of $4.00 billion, a price-to-earnings ratio of -762.46 and a beta of 1.59.

RadNet (NASDAQ:RDNT) last announced its quarterly earnings data on Thursday, February 27th. The medical research company reported $0.22 EPS for the quarter, topping analysts’ consensus estimates 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 company had revenue of $477.10 million during the quarter, compared to the consensus estimate of $459.42 million. On average, equities research analysts anticipate that RadNet, Inc. will post 0.56 earnings per share for the current 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.