F M Investments LLC Takes Position in RadNet, Inc. (NASDAQ:RDNT)

F M Investments LLC acquired a new position in RadNet, Inc. (NASDAQ:RDNT - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund acquired 54,342 shares of the medical research company's stock, valued at approximately $3,795,000. F M Investments LLC owned 0.07% of RadNet at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of RDNT. HighTower Advisors LLC grew its stake in shares of RadNet by 1.8% in the third quarter. HighTower Advisors LLC now owns 7,861 shares of the medical research company's stock worth $545,000 after purchasing an additional 136 shares during the last quarter. Highland Capital Management LLC grew its position in shares of RadNet by 6.5% in the 4th quarter. Highland Capital Management LLC now owns 3,307 shares of the medical research company's stock worth $231,000 after buying an additional 202 shares during the last quarter. Summit Financial LLC increased its stake in shares of RadNet by 2.4% during the fourth quarter. Summit Financial LLC now owns 11,111 shares of the medical research company's stock valued at $776,000 after buying an additional 262 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd raised its holdings in shares of RadNet by 4.3% during the fourth quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 7,389 shares of the medical research company's stock valued at $516,000 after acquiring an additional 302 shares in the last quarter. Finally, Fifth Third Bancorp lifted its stake in RadNet by 84.3% in the fourth quarter. Fifth Third Bancorp now owns 667 shares of the medical research company's stock worth $47,000 after acquiring an additional 305 shares during the period. Institutional investors own 77.90% of the company's stock.

Remove Ads

RadNet Stock Down 0.1 %

Shares of NASDAQ RDNT traded down $0.05 during trading on Monday, reaching $53.36. The company had a trading volume of 414,505 shares, compared to its average volume of 653,188. RadNet, Inc. has a 12-month low of $45.00 and a 12-month 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 business's 50-day moving average is $54.22 and its 200 day moving average is $65.65. The stock has a market cap of $3.95 billion, a PE ratio of -762.18 and a beta of 1.59.

RadNet (NASDAQ:RDNT - Get Free Report) last announced its quarterly earnings data on Thursday, February 27th. The medical research company reported $0.22 EPS for the quarter, beating the consensus estimate of $0.21 by $0.01. The company had revenue of $477.10 million for 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%. As a group, equities analysts forecast that RadNet, Inc. will post 0.56 earnings per share for the current fiscal year.

Insider Activity at RadNet

In other RadNet news, CEO Cornelis Wesdorp sold 2,000 shares of RadNet stock in a transaction that occurred 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 sale, 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 transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director David L. Swartz sold 25,000 shares of the business's stock in a transaction on Friday, March 7th. The shares were sold at an average price of $50.84, for a total transaction 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 represents a 12.56 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 38,000 shares of company stock valued at $1,926,730. 5.12% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several research analysts have commented on the stock. Jefferies Financial Group decreased their price objective on shares of RadNet from $100.00 to $80.00 and set a "buy" rating for the company in a report on Wednesday, January 15th. Truist Financial lowered their price objective on shares of RadNet from $88.00 to $74.00 and set a "buy" rating for the company in a report on Friday. StockNews.com upgraded RadNet to a "sell" rating in a report on Wednesday, March 19th. Barclays lowered 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, Raymond James raised 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 report on Wednesday, March 5th. One 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 company's stock. According to MarketBeat.com, RadNet has a consensus 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.