RadNet, Inc. (NASDAQ:RDNT) Shares Acquired by Axiom Investors LLC DE

Axiom Investors LLC DE boosted its position in RadNet, Inc. (NASDAQ:RDNT) by 46.2% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 279,467 shares of the medical research company’s stock after acquiring an additional 88,372 shares during the quarter. Axiom Investors LLC DE’s holdings in RadNet were worth $19,518,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Clearbridge Investments LLC lifted 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 purchasing an additional 207,582 shares during the last quarter. New Age Alpha Advisors LLC acquired a new stake in shares of RadNet during the 4th quarter worth approximately $260,000. Norges Bank acquired a new position in RadNet during the 4th quarter valued at approximately $56,381,000. JPMorgan Chase & Co. increased its position in RadNet by 154.8% in the fourth quarter. JPMorgan Chase & Co. now owns 338,843 shares of the medical research company’s stock worth $23,665,000 after buying an additional 205,846 shares during the period. Finally, WINTON GROUP Ltd bought a new position in shares of RadNet during the fourth quarter worth about $344,000. 77.90% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, 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 value of $105,160.00. Following the completion of the transaction, the chief executive officer now owns 58,995 shares in the company, valued at $3,101,957.10. This trade represents a 3.28 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, COO Norman R. Hames sold 5,000 shares of the business’s stock in a transaction dated Wednesday, March 19th. The stock was sold at an average price of $50.22, for a total value of $251,100.00. Following the sale, the chief operating officer now owns 251,959 shares in the company, valued at approximately $12,653,380.98. The trade was a 1.95 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 38,000 shares of company stock worth $1,926,730. 5.12% of the stock is owned by insiders.

RadNet Trading Down 2.4 %

Shares of RadNet stock opened at $49.44 on Monday. The business has a fifty day simple moving average of $57.55 and a 200-day simple moving average of $67.13. The firm has a market cap of $3.66 billion, a price-to-earnings ratio of -706.18 and a beta of 1.85. RadNet, Inc. has a fifty-two week low of $45.82 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.

RadNet (NASDAQ:RDNT) last posted its quarterly earnings data 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 negative net margin of 0.25% and a positive return on equity of 4.29%. The company had revenue of $477.10 million during the quarter, compared to analyst estimates of $459.42 million. On average, equities analysts forecast that RadNet, Inc. will post 0.56 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research analysts have commented on the stock. Truist Financial restated a “buy” rating and issued a $88.00 target price (down previously from $94.00) on shares of RadNet in a research report on Wednesday, January 22nd. StockNews.com upgraded RadNet to a “sell” rating in a research report on Wednesday, March 19th. Raymond James upgraded shares of RadNet from an “outperform” rating to a “strong-buy” rating and cut their price objective for the company from $85.00 to $65.00 in a research note on Wednesday, March 5th. Jefferies Financial Group decreased their target price on shares of RadNet from $100.00 to $80.00 and set a “buy” rating for the company in a research report on Wednesday, January 15th. Finally, Barclays dropped 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. One research analyst has rated the stock with a sell rating, three have given a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Buy” and a consensus price target of $73.25.

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.