13,100 Shares in RadNet, Inc. (NASDAQ:RDNT) Acquired by KLP Kapitalforvaltning AS

KLP Kapitalforvaltning AS bought a new stake in RadNet, Inc. (NASDAQ:RDNT - Free Report) in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 13,100 shares of the medical research company's stock, valued at approximately $915,000.

Other hedge funds have also modified their holdings of the company. USA Financial Formulas acquired a new stake in RadNet in the fourth quarter valued at approximately $30,000. Fifth Third Bancorp grew its holdings in RadNet by 84.3% during 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 in the last quarter. Smartleaf Asset Management LLC grew its holdings in RadNet by 377.0% during 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 in the last quarter. Twin Tree Management LP purchased a new stake in RadNet during the 4th quarter worth $106,000. Finally, IFP Advisors Inc lifted its holdings in RadNet by 39.1% in the 4th 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 in the last quarter. 77.90% of the stock is currently owned by hedge funds and other institutional investors.

RadNet Stock Performance

Shares of RDNT traded down $0.81 during mid-day trading on Friday, hitting $48.70. The stock had a trading volume of 1,157,538 shares, compared to its average volume of 639,734. RadNet, Inc. has a fifty-two week low of $45.82 and a fifty-two week high of $93.65. 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 company has a market cap of $3.61 billion, a PE ratio of -695.61 and a beta of 1.85. The company's fifty day simple moving average is $56.32 and its two-hundred day simple moving average is $66.55.

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RadNet (NASDAQ:RDNT - Get Free Report) last released 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. 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%. On average, equities analysts expect that RadNet, Inc. will post 0.56 earnings per share for the current year.

Insider Activity at RadNet

In related news, Director David L. Swartz sold 25,000 shares of the business'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 completion of the transaction, the director now owns 174,067 shares in the company, valued at $8,849,566.28. The trade was a 12.56 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Cornelis Wesdorp sold 1,000 shares of the company's stock in a transaction on Friday, March 7th. The stock was sold at an average price of $50.52, for a total value of $50,520.00. Following the transaction, the chief executive officer now owns 55,995 shares of the company's stock, valued at approximately $2,828,867.40. The trade was a 1.75 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 38,000 shares of company stock valued at $1,926,730 in the last quarter. Insiders own 5.12% of the company's stock.

Analyst Ratings Changes

Several brokerages have recently weighed in on RDNT. StockNews.com upgraded RadNet to a "sell" rating in a research note on Wednesday, March 19th. Raymond James upgraded RadNet from an "outperform" rating to a "strong-buy" rating and lowered their price objective for the company from $85.00 to $65.00 in a research note on Wednesday, March 5th. Jefferies Financial Group cut their target price on RadNet from $100.00 to $80.00 and set a "buy" rating on the stock in a research report on Wednesday, January 15th. Barclays reduced their target price on RadNet from $74.00 to $60.00 and set an "overweight" rating for the company in a research note on Monday, March 24th. Finally, Truist Financial restated a "buy" rating and issued a $88.00 price target (down previously from $94.00) on shares of RadNet in a research note on Wednesday, January 22nd. 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. Based on data from MarketBeat.com, the company has a consensus rating of "Buy" and an average price target of $73.25.

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.