Dynamic Technology Lab Private Ltd Acquires Shares of 12,293 RadNet, Inc. (NASDAQ:RDNT)

Dynamic Technology Lab Private Ltd purchased a new stake in shares of RadNet, Inc. (NASDAQ:RDNT - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 12,293 shares of the medical research company's stock, valued at approximately $859,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. USA Financial Formulas purchased a new position in shares of RadNet during the fourth quarter valued at approximately $30,000. Fifth Third Bancorp lifted its holdings in shares of 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 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 worth $96,000 after purchasing an additional 1,063 shares in the last quarter. Twin Tree Management LP purchased a new stake in shares of RadNet in the 4th quarter worth approximately $106,000. Finally, IFP Advisors Inc raised its stake in RadNet by 39.1% during the fourth quarter. IFP Advisors Inc now owns 1,697 shares of the medical research company's stock valued at $119,000 after buying an additional 477 shares during the last quarter. Institutional investors own 77.90% of the company's stock.

Wall Street Analysts Forecast Growth

RDNT has been the subject of several analyst reports. 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, March 24th. Jefferies Financial Group dropped their target price on shares of RadNet from $100.00 to $80.00 and set a "buy" rating on the stock in a report on Wednesday, January 15th. Truist Financial decreased their target price on shares of RadNet from $88.00 to $74.00 and set a "buy" rating for the company in a research note on Friday. Raymond James upgraded RadNet from an "outperform" rating to a "strong-buy" rating and dropped their price target for the stock 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 research report on Wednesday, March 19th. One 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 company. According to MarketBeat.com, the stock presently has a consensus rating of "Buy" and a consensus price target of $69.75.

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RadNet Stock Performance

Shares of RadNet stock traded down $0.93 on Friday, hitting $52.07. 150,684 shares of the company's stock were exchanged, compared to its average volume of 650,208. RadNet, Inc. has a 1 year low of $45.00 and a 1 year high of $93.65. The company has a 50-day simple moving average of $54.49 and a 200-day simple moving average of $65.79. The company has a debt-to-equity ratio of 0.89, a quick ratio of 2.16 and a current ratio of 2.16. The stock has a market capitalization of $3.86 billion, a PE ratio of -743.25 and a beta of 1.59.

RadNet (NASDAQ:RDNT - Get Free Report) last released its earnings results on Thursday, February 27th. The medical research company reported $0.22 earnings per share 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. As a group, equities analysts anticipate that RadNet, Inc. will post 0.56 EPS for the current year.

Insider Buying and Selling

In other RadNet news, COO Norman R. Hames sold 5,000 shares of the company's stock in a transaction that occurred on Wednesday, March 19th. The shares were sold at an average price of $50.22, for a total value of $251,100.00. Following the completion of the transaction, the chief operating officer now directly owns 251,959 shares in the company, valued at $12,653,380.98. This represents a 1.95 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Cornelis Wesdorp sold 2,000 shares of the stock in a transaction on Wednesday, March 5th. The stock was sold at an average price of $52.58, for a total transaction of $105,160.00. Following the completion of the sale, the chief executive officer now directly owns 58,995 shares of the company's stock, 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. In the last ninety days, insiders sold 38,000 shares of company stock valued at $1,926,730. 5.12% of the stock is owned by corporate insiders.

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.