Trexquant Investment LP Invests $1.32 Million in RadNet, Inc. (NASDAQ:RDNT)

Trexquant Investment LP purchased a new stake in RadNet, Inc. (NASDAQ:RDNT - Free Report) in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 18,850 shares of the medical research company's stock, valued at approximately $1,316,000.

Several other institutional investors and hedge funds also recently made changes to their positions in RDNT. BNP Paribas Financial Markets lifted its position in RadNet by 128.2% in the 3rd quarter. BNP Paribas Financial Markets now owns 15,447 shares of the medical research company's stock valued at $1,072,000 after acquiring an additional 8,677 shares in the last quarter. HighTower Advisors LLC raised its stake in shares of RadNet by 1.8% in the 3rd quarter. HighTower Advisors LLC now owns 7,861 shares of the medical research company's stock valued at $545,000 after purchasing an additional 136 shares during the period. State Street Corp lifted its holdings in shares of RadNet by 1.3% in the third quarter. State Street Corp now owns 2,446,179 shares of the medical research company's stock valued at $169,740,000 after purchasing an additional 30,244 shares in the last quarter. Wolverine Trading LLC boosted its position in shares of RadNet by 28.6% during the third quarter. Wolverine Trading LLC now owns 4,502 shares of the medical research company's stock worth $312,000 after buying an additional 1,002 shares during the period. Finally, Barclays PLC grew its holdings in shares of RadNet by 373.8% during the third quarter. Barclays PLC now owns 116,978 shares of the medical research company's stock worth $8,118,000 after buying an additional 92,291 shares in the last quarter. Institutional investors and hedge funds own 77.90% of the company's stock.

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RadNet Stock Performance

Shares of RadNet stock traded down $0.36 during trading on Monday, hitting $53.05. 193,034 shares of the stock were exchanged, compared to its average volume of 652,339. RadNet, Inc. has a 1-year low of $45.00 and a 1-year high of $93.65. The company has a current ratio of 2.16, a quick ratio of 2.16 and a debt-to-equity ratio of 0.89. The stock has a market capitalization of $3.93 billion, a price-to-earnings ratio of -757.75 and a beta of 1.59. The company has a fifty day moving average price of $54.22 and a 200-day moving average price of $65.65.

RadNet (NASDAQ:RDNT - Get Free Report) last released its quarterly earnings data on Thursday, February 27th. The medical research company reported $0.22 EPS for the quarter, beating the consensus estimate of $0.21 by $0.01. The firm had revenue of $477.10 million for the quarter, compared to the consensus estimate of $459.42 million. RadNet had a negative net margin of 0.25% and a positive return on equity of 4.29%. As a group, equities analysts predict that RadNet, Inc. will post 0.56 EPS for the current fiscal year.

Insider Buying and Selling at RadNet

In other news, Director David L. Swartz sold 25,000 shares of the stock in a transaction on Friday, March 7th. The stock was sold at an average price of $50.84, for a total transaction of $1,271,000.00. Following the sale, the director now directly owns 174,067 shares of the company's stock, valued at approximately $8,849,566.28. This represents a 12.56 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Cornelis Wesdorp sold 1,000 shares of the business's stock in a transaction dated Friday, March 7th. The shares were sold at an average price of $50.52, for a total value of $50,520.00. Following the completion of the transaction, the chief executive officer now directly owns 55,995 shares of the company's stock, valued at approximately $2,828,867.40. This trade represents a 1.75 % decrease in their position. 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 ninety days. 5.12% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

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

About RadNet

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.