AlphaQuest LLC Acquires 2,209 Shares of RadNet, Inc. (NASDAQ:RDNT)

AlphaQuest LLC boosted its holdings in RadNet, Inc. (NASDAQ:RDNT) by 14,726.7% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 2,224 shares of the medical research company’s stock after buying an additional 2,209 shares during the period. AlphaQuest LLC’s holdings in RadNet were worth $155,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in the business. State Street Corp increased its position in RadNet by 1.3% in the 3rd quarter. State Street Corp now owns 2,446,179 shares of the medical research company’s stock worth $169,740,000 after buying an additional 30,244 shares during the period. Geode Capital Management LLC increased its position in RadNet by 0.8% in the 3rd quarter. Geode Capital Management LLC now owns 1,555,214 shares of the medical research company’s stock worth $107,936,000 after buying an additional 11,613 shares during the period. Principal Financial Group Inc. increased its position in RadNet by 8.5% in the 3rd quarter. Principal Financial Group Inc. now owns 1,506,545 shares of the medical research company’s stock worth $104,539,000 after buying an additional 118,501 shares during the period. JB Capital Partners LP increased its position in RadNet by 15.9% in the 3rd quarter. JB Capital Partners LP now owns 1,504,061 shares of the medical research company’s stock worth $104,367,000 after buying an additional 206,850 shares during the period. Finally, Allspring Global Investments Holdings LLC increased its position in shares of RadNet by 30.4% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 1,475,995 shares of the medical research company’s stock valued at $103,532,000 after purchasing an additional 344,146 shares during the period. 77.90% of the stock is owned by institutional investors.

RadNet Stock Performance

Shares of NASDAQ:RDNT opened at $49.02 on Tuesday. The business’s fifty day moving average price is $60.53 and its two-hundred day moving average price is $67.94. RadNet, Inc. has a fifty-two week low of $44.08 and a fifty-two week high of $93.65. The stock has a market capitalization of $3.63 billion, a price-to-earnings ratio of -700.19 and a beta of 1.85. The company has a debt-to-equity ratio of 0.89, a current ratio of 2.16 and a quick ratio of 2.16.

RadNet (NASDAQ:RDNT) last announced its quarterly earnings results on Thursday, February 27th. The medical research company reported $0.22 earnings per share for the quarter, beating 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 analysts’ expectations of $459.42 million. As a group, analysts predict that RadNet, Inc. will post 0.56 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on RDNT shares. Jefferies Financial Group lowered their price objective on RadNet from $100.00 to $80.00 and set a “buy” rating on the stock in a research report on Wednesday, January 15th. Truist Financial restated a “buy” rating and set a $88.00 price objective (down from $94.00) on shares of RadNet in a research report on Wednesday, January 22nd. Barclays lowered their price objective on RadNet from $85.00 to $74.00 and set an “overweight” rating on the stock in a research report on Wednesday, January 22nd. Finally, Raymond James upgraded RadNet from an “outperform” rating to a “strong-buy” rating and lowered their price objective for the company from $85.00 to $65.00 in a research report on Wednesday, March 5th. One 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 company. According to data from MarketBeat, RadNet presently has a consensus rating of “Buy” and an average price target of $76.75.

Insider Buying and Selling at RadNet

In other RadNet news, Director David L. Swartz sold 25,000 shares of the business’s 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 of the company’s stock, valued at approximately $8,849,566.28. The trade was a 12.56 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Cornelis Wesdorp sold 1,000 shares of the business’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 transaction, the chief executive officer now directly owns 55,995 shares in the company, valued at approximately $2,828,867.40. This represents a 1.75 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 28,000 shares of company stock worth $1,426,680 over the last three months. Company insiders own 5.12% of the company’s stock.

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.