RTW Investments LP Has $138.18 Million Stake in RadNet, Inc. (NASDAQ:RDNT)

RTW Investments LP boosted its holdings in shares of RadNet, Inc. (NASDAQ:RDNT) by 9.4% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 1,978,582 shares of the medical research company’s stock after buying an additional 169,978 shares during the period. RadNet comprises about 2.1% of RTW Investments LP’s portfolio, making the stock its 19th biggest holding. RTW Investments LP’s holdings in RadNet were worth $138,184,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the business. USA Financial Formulas acquired a new stake in shares of RadNet in the fourth quarter valued at about $30,000. Fifth Third Bancorp grew its position in shares of 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 grew its position in shares of RadNet by 377.0% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,345 shares of the medical research company’s stock valued at $96,000 after purchasing an additional 1,063 shares during the last quarter. Tower Research Capital LLC TRC grew its position in shares of RadNet by 42.2% in the fourth quarter. Tower Research Capital LLC TRC now owns 1,422 shares of the medical research company’s stock valued at $99,000 after purchasing an additional 422 shares during the last quarter. Finally, Canada Pension Plan Investment Board acquired a new stake in shares of RadNet in the fourth quarter valued at about $105,000. 77.90% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the stock. Truist Financial reduced their target price on shares of RadNet from $88.00 to $74.00 and set a “buy” rating for the company in a research note on Friday, April 11th. StockNews.com upgraded shares of RadNet to a “sell” rating in a research note on Monday. Barclays reduced their target price on shares of RadNet from $74.00 to $60.00 and set an “overweight” rating for the company in a research note on Monday, March 24th. Finally, Raymond James upgraded shares of RadNet from an “outperform” rating to a “strong-buy” rating and reduced their target price for the company 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 given a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, RadNet has a consensus rating of “Buy” and a consensus price target of $69.75.

RadNet Stock Down 0.1%

Shares of RDNT opened at $60.26 on Friday. The stock has a market cap of $4.52 billion, a price-to-earnings ratio of -860.73 and a beta of 1.46. 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, Inc. has a 12 month low of $45.00 and a 12 month high of $93.65. The company has a 50-day moving average price of $51.47 and a two-hundred day moving average price of $63.21.

RadNet (NASDAQ:RDNT) last announced its quarterly earnings results on Thursday, February 27th. The medical research company reported $0.22 EPS for the quarter, topping analysts’ consensus estimates of $0.21 by $0.01. The firm had revenue of $477.10 million during the quarter, compared to analysts’ expectations of $459.42 million. RadNet had a negative net margin of 0.25% and a positive return on equity of 4.29%. Equities analysts predict that RadNet, Inc. will post 0.56 EPS for the current fiscal year.

Insiders Place Their Bets

In other RadNet news, COO Norman R. Hames sold 5,536 shares of the firm’s stock in a transaction dated Thursday, May 15th. The shares were sold at an average price of $60.00, for a total transaction of $332,160.00. Following the completion of the transaction, the chief operating officer now owns 249,183 shares in the company, valued at $14,950,980. This trade represents a 2.17% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Cornelis Wesdorp sold 2,000 shares of the firm’s 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 sale, the chief executive officer now directly owns 58,995 shares of the company’s stock, valued at approximately $3,101,957.10. The trade was a 3.28% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 46,447 shares of company stock worth $2,433,550 over the last quarter. Company insiders own 5.12% of the company’s stock.

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.