Cibc World Markets Corp Purchases Shares of 6,187 RadNet, Inc. (NASDAQ:RDNT)

Cibc World Markets Corp acquired a new stake in shares of RadNet, Inc. (NASDAQ:RDNT - Free Report) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 6,187 shares of the medical research company's stock, valued at approximately $432,000.

Several other large investors have also modified their holdings of RDNT. USA Financial Formulas purchased a new stake in shares of RadNet in the 4th quarter valued at approximately $30,000. Fifth Third Bancorp raised its position in RadNet by 84.3% during the fourth 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 during the period. Smartleaf Asset Management LLC lifted its stake 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 acquiring an additional 1,063 shares in the last quarter. Twin Tree Management LP acquired a new stake in RadNet during the 4th quarter worth about $106,000. Finally, IFP Advisors Inc grew its stake in RadNet by 39.1% during the 4th quarter. IFP Advisors Inc now owns 1,697 shares of the medical research company's stock valued at $119,000 after acquiring an additional 477 shares in the last quarter. 77.90% of the stock is owned by institutional investors.

RadNet Stock Performance

Shares of NASDAQ RDNT traded down $0.05 during trading hours on Thursday, hitting $50.67. 823,399 shares of the stock were exchanged, compared to its average volume of 616,016. The firm has a market capitalization of $3.75 billion, a P/E ratio of -723.75 and a beta of 1.85. RadNet, Inc. has a one year low of $45.82 and a one year high of $93.65. The company has a debt-to-equity ratio of 0.89, a current ratio of 2.16 and a quick ratio of 2.16. The company's 50 day moving average is $57.96 and its 200 day moving average is $67.25.

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RadNet (NASDAQ:RDNT - Get Free Report) last issued its quarterly earnings results on Thursday, February 27th. The medical research company reported $0.22 earnings per share (EPS) for the quarter, beating 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 company had revenue of $477.10 million for the quarter, compared to the consensus estimate of $459.42 million. On average, research analysts expect that RadNet, Inc. will post 0.56 EPS for the current year.

Insiders Place Their Bets

In other news, COO Norman R. Hames sold 5,000 shares of the company's stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $49.79, for a total transaction of $248,950.00. Following the completion of the transaction, the chief operating officer now owns 261,959 shares of the company's stock, valued at approximately $13,042,938.61. This represents a 1.87 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Cornelis Wesdorp sold 2,000 shares of RadNet stock in a transaction dated 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 directly owns 58,995 shares in the company, valued at approximately $3,101,957.10. This trade represents a 3.28 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 38,000 shares of company stock valued at $1,926,730 in the last three months. Company insiders own 5.12% of the company's stock.

Analyst Ratings Changes

RDNT has been the subject of several research reports. Truist Financial restated a "buy" rating and set a $88.00 price target (down from $94.00) on shares of RadNet in a report on Wednesday, January 22nd. StockNews.com upgraded RadNet to a "sell" rating in a report on Wednesday, March 19th. Jefferies Financial Group lowered their target price on RadNet from $100.00 to $80.00 and set a "buy" rating on the stock in a research note on Wednesday, January 15th. Barclays reduced their price target on RadNet from $74.00 to $60.00 and set an "overweight" rating for the company in a report on Monday. Finally, Raymond James raised shares of RadNet from an "outperform" rating to a "strong-buy" rating and cut their price objective for the company from $85.00 to $65.00 in a research report on Wednesday, March 5th. One research 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 stock. According to MarketBeat.com, RadNet currently has a consensus rating of "Buy" and a consensus price target of $73.25.

RadNet Company 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.