RadNet, Inc. (NASDAQ:RDNT) Stock Holdings Raised by Axiom Investors LLC DE

Axiom Investors LLC DE grew its position in shares of RadNet, Inc. (NASDAQ:RDNT - Free Report) by 46.2% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 279,467 shares of the medical research company's stock after purchasing an additional 88,372 shares during the period. Axiom Investors LLC DE owned 0.38% of RadNet worth $19,518,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. USA Financial Formulas purchased a new stake in RadNet in the 4th quarter worth approximately $30,000. Fifth Third Bancorp increased 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 valued at $47,000 after purchasing an additional 305 shares during the last quarter. Smartleaf Asset Management LLC lifted its position in RadNet by 377.0% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,345 shares of the medical research company's stock worth $96,000 after buying an additional 1,063 shares during the period. Twin Tree Management LP acquired a new stake in RadNet in the 4th quarter worth about $106,000. Finally, IFP Advisors Inc grew its holdings in RadNet by 39.1% in the 4th 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 period. 77.90% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, COO Norman R. Hames sold 5,000 shares of the business's stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $49.79, for a total value of $248,950.00. Following the transaction, the chief operating officer now owns 261,959 shares in the company, valued at approximately $13,042,938.61. The trade was a 1.87 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director David L. Swartz sold 25,000 shares of the firm's stock in a transaction that occurred on Friday, March 7th. The shares were sold at an average price of $50.84, for a total value 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 trade represents a 12.56 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 38,000 shares of company stock worth $1,926,730 over the last 90 days. Company insiders own 5.12% of the company's stock.

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RadNet Stock Down 1.7 %

RadNet stock traded down $0.82 during trading on Friday, reaching $48.69. 426,846 shares of the company's stock were exchanged, compared to its average volume of 636,336. RadNet, Inc. has a 52-week low of $45.82 and a 52-week high of $93.65. The firm has a market cap of $3.61 billion, a price-to-earnings ratio of -694.12 and a beta of 1.85. 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 company's 50-day moving average is $56.62 and its two-hundred day moving average is $66.67.

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

Analyst Ratings Changes

Several research analysts have recently weighed in on the stock. Jefferies Financial Group cut their price objective 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 reissued a "buy" rating and set a $88.00 price objective (down from $94.00) on shares of RadNet in a research note on Wednesday, January 22nd. Barclays dropped their price objective on RadNet from $74.00 to $60.00 and set an "overweight" rating for the company in a report on Monday, March 24th. StockNews.com upgraded RadNet to a "sell" rating in a report on Wednesday, March 19th. Finally, 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. One investment 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, the company currently has an average rating of "Buy" and an average price target of $73.25.

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.