National Bank of Canada FI Buys 7,377 Shares of RadNet, Inc. (NASDAQ:RDNT)

National Bank of Canada FI increased its stake in RadNet, Inc. (NASDAQ:RDNT - Free Report) by 1,926.1% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 7,760 shares of the medical research company's stock after purchasing an additional 7,377 shares during the quarter. National Bank of Canada FI's holdings in RadNet were worth $542,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. BNP Paribas Financial Markets increased its position in shares of RadNet by 128.2% in the third quarter. BNP Paribas Financial Markets now owns 15,447 shares of the medical research company's stock worth $1,072,000 after acquiring an additional 8,677 shares in the last quarter. HighTower Advisors LLC boosted its stake in RadNet by 1.8% in the 3rd 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 period. State Street Corp grew its position in RadNet by 1.3% during the 3rd quarter. State Street Corp now owns 2,446,179 shares of the medical research company's stock worth $169,740,000 after purchasing an additional 30,244 shares in the last quarter. Wolverine Trading LLC raised its stake in RadNet by 28.6% during the 3rd quarter. Wolverine Trading LLC now owns 4,502 shares of the medical research company's stock valued at $312,000 after purchasing an additional 1,002 shares during the period. Finally, Barclays PLC lifted its holdings in shares of RadNet by 373.8% in the third quarter. Barclays PLC now owns 116,978 shares of the medical research company's stock valued at $8,118,000 after purchasing an additional 92,291 shares in the last quarter. Institutional investors and hedge funds own 77.90% of the company's stock.

Remove Ads

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the company. Jefferies Financial Group reduced their price objective on RadNet from $100.00 to $80.00 and set a "buy" rating for the company in a research note on Wednesday, January 15th. Truist Financial reduced their price target on RadNet from $88.00 to $74.00 and set a "buy" rating for the company in a research report on Friday. Raymond James upgraded RadNet from an "outperform" rating to a "strong-buy" rating and decreased their price target for the stock from $85.00 to $65.00 in a research note on Wednesday, March 5th. StockNews.com raised RadNet to a "sell" rating in a research note on Wednesday, March 19th. Finally, Barclays decreased their target price on RadNet from $74.00 to $60.00 and set an "overweight" rating for the company in a research report on Monday, March 24th. One equities research analyst has rated the stock with a sell rating, three have assigned a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, RadNet has a consensus rating of "Buy" and an average target price of $69.75.

RadNet Stock Performance

Shares of NASDAQ:RDNT traded down $0.36 during midday trading on Monday, hitting $53.05. The company's stock had a trading volume of 193,034 shares, compared to its average volume of 652,332. 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's 50 day simple moving average is $54.22 and its 200 day simple moving average is $65.65. The stock has a market capitalization of $3.93 billion, a price-to-earnings ratio of -757.75 and a beta of 1.59. RadNet, Inc. has a fifty-two week low of $45.00 and a fifty-two week high of $93.65.

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 (EPS) for the quarter, beating analysts' consensus estimates of $0.21 by $0.01. The firm had revenue of $477.10 million for the quarter, compared to analyst estimates of $459.42 million. RadNet had a positive return on equity of 4.29% and a negative net margin of 0.25%. As a group, research analysts anticipate that RadNet, Inc. will post 0.56 earnings per share for the current year.

Insider Activity at RadNet

In other news, COO Norman R. Hames sold 5,000 shares of RadNet stock in a transaction that occurred on Monday, March 17th. The stock was sold at an average price of $49.79, for a total transaction of $248,950.00. Following the sale, the chief operating officer now owns 261,959 shares of the company's stock, valued at approximately $13,042,938.61. This trade represents a 1.87 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Cornelis Wesdorp sold 2,000 shares of the business's 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 sale, the chief executive officer now owns 58,995 shares in the company, valued at approximately $3,101,957.10. This represents a 3.28 % 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 worth $1,926,730 in the last ninety days. 5.12% of the stock is currently owned by insiders.

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.