RadNet, Inc. (NASDAQ:RDNT) Position Increased by Harvest Investment Services LLC

Harvest Investment Services LLC lifted its holdings in RadNet, Inc. (NASDAQ:RDNT) by 94.3% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 29,522 shares of the medical research company’s stock after buying an additional 14,327 shares during the quarter. Harvest Investment Services LLC’s holdings in RadNet were worth $2,062,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also modified their holdings of the business. Barclays PLC raised its stake in 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 acquiring an additional 92,291 shares during the period. Sanctuary Advisors LLC acquired a new stake in shares of RadNet during the 3rd quarter worth approximately $211,000. Franklin Resources Inc. raised its position in shares of RadNet by 12.0% during the 3rd quarter. Franklin Resources Inc. now owns 387,061 shares of the medical research company’s stock worth $27,334,000 after purchasing an additional 41,381 shares during the period. Principal Financial Group Inc. lifted its holdings in shares of 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 purchasing an additional 118,501 shares during the last quarter. Finally, JPMorgan Chase & Co. grew its stake in RadNet by 1.4% during the 3rd quarter. JPMorgan Chase & Co. now owns 132,997 shares of the medical research company’s stock worth $9,229,000 after buying an additional 1,838 shares during the last quarter. 77.90% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

RDNT has been the subject of several analyst reports. Raymond James raised shares of RadNet from an “outperform” rating to a “strong-buy” rating and reduced their price target for the company from $85.00 to $65.00 in a report on Wednesday, March 5th. StockNews.com upgraded RadNet to a “sell” rating in a research report on Wednesday, March 19th. Barclays cut their target price on RadNet from $74.00 to $60.00 and set an “overweight” rating on the stock in a research note on Monday, March 24th. 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, April 11th. Finally, 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 research note on Wednesday, January 15th. One research analyst has rated the stock with a sell rating, three have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, RadNet has an average rating of “Buy” and a consensus target price of $69.75.

RadNet Trading Down 4.9 %

RadNet stock opened at $47.36 on Tuesday. The firm has a market cap of $3.51 billion, a price-to-earnings ratio of -676.47 and a beta of 1.59. RadNet, Inc. has a 1 year low of $45.00 and a 1 year high of $93.65. The firm’s 50 day moving average price is $52.68 and its two-hundred day moving average price is $64.89. The company has a debt-to-equity ratio of 0.89, a quick ratio of 2.16 and a current ratio of 2.16.

RadNet (NASDAQ:RDNT) last announced its earnings results on Thursday, February 27th. The medical research company reported $0.22 earnings per share (EPS) for the quarter, topping 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 company had revenue of $477.10 million for the quarter, compared to analyst estimates of $459.42 million. On average, research analysts predict that RadNet, Inc. will post 0.56 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, COO Norman R. Hames sold 5,000 shares of the company’s stock in a transaction that occurred on Monday, March 17th. The shares were sold at an average price of $49.79, for a total value of $248,950.00. Following the completion of the sale, the chief operating officer now owns 261,959 shares in the company, valued at approximately $13,042,938.61. This represents a 1.87 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Cornelis Wesdorp sold 2,000 shares of RadNet stock in a transaction that occurred on Wednesday, March 5th. The stock was sold at an average price of $52.58, for a total transaction of $105,160.00. Following the transaction, the chief executive officer now owns 58,995 shares in the company, valued at approximately $3,101,957.10. The trade was 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 over the last ninety days. 5.12% of the stock is currently owned by company 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.