Marshall Wace LLP Grows Position in RadNet, Inc. (NASDAQ:RDNT)

Marshall Wace LLP lifted its position in RadNet, Inc. (NASDAQ:RDNT - Free Report) by 11.5% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,222,690 shares of the medical research company's stock after purchasing an additional 125,844 shares during the period. Marshall Wace LLP owned about 1.65% of RadNet worth $85,393,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also made changes to their positions in the business. Norges Bank bought a new stake in shares of RadNet in the fourth quarter worth about $56,381,000. Raymond James Financial Inc. purchased a new position in RadNet during the 4th quarter valued at $33,090,000. Allspring Global Investments Holdings LLC grew its holdings in shares of RadNet by 30.4% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 1,475,995 shares of the medical research company's stock worth $103,532,000 after purchasing an additional 344,146 shares during the last quarter. Clearbridge Investments LLC increased its position in shares of RadNet by 28.3% during the fourth quarter. Clearbridge Investments LLC now owns 942,082 shares of the medical research company's stock worth $65,795,000 after acquiring an additional 207,582 shares during the period. Finally, JPMorgan Chase & Co. increased its holdings in RadNet by 154.8% during the 4th quarter. JPMorgan Chase & Co. now owns 338,843 shares of the medical research company's stock worth $23,665,000 after purchasing an additional 205,846 shares during the period. 77.90% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at RadNet

In other RadNet news, 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 completion of the sale, the chief executive officer now directly owns 55,995 shares in the company, valued at $2,828,867.40. This represents a 1.75 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director David L. Swartz sold 25,000 shares of RadNet stock in a transaction on Friday, March 7th. The stock was sold at an average price of $50.84, for a total value of $1,271,000.00. Following the transaction, the director now owns 174,067 shares in the company, valued at approximately $8,849,566.28. This represents a 12.56 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 38,000 shares of company stock valued at $1,926,730. Corporate insiders own 5.12% of the company's stock.

Analyst Ratings Changes

RDNT has been the subject of a number of recent research reports. Jefferies Financial Group reduced their price objective on shares of RadNet from $100.00 to $80.00 and set a "buy" rating for the company in a research note on Wednesday, January 15th. StockNews.com raised shares of RadNet to a "sell" rating in a research report on Wednesday, March 19th. Barclays dropped their price target on RadNet from $74.00 to $60.00 and set an "overweight" rating on the stock in a research note on Monday, March 24th. Truist Financial cut their price objective on shares of RadNet from $88.00 to $74.00 and set a "buy" rating on the stock in a research note on Friday, April 11th. Finally, Raymond James upgraded RadNet from an "outperform" rating to a "strong-buy" rating and reduced their price target 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 issued a buy rating and two have assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Buy" and an average target price of $69.75.

RadNet Price Performance

Shares of NASDAQ RDNT traded up $0.64 during trading on Tuesday, hitting $48.00. The company had a trading volume of 121,699 shares, compared to its average volume of 658,352. RadNet, Inc. has a fifty-two week low of $45.00 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 stock has a fifty day simple moving average of $52.68 and a two-hundred day simple moving average of $64.89. The firm has a market capitalization of $3.55 billion, a price-to-earnings ratio of -685.69 and a beta of 1.59.

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, topping analysts' consensus estimates 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 firm had revenue of $477.10 million for the quarter, compared to analyst estimates of $459.42 million. On average, research analysts expect that RadNet, Inc. will post 0.56 earnings per share for the current year.

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.