54,342 Shares in RadNet, Inc. (NASDAQ:RDNT) Bought by F M Investments LLC

F M Investments LLC bought a new position in shares of RadNet, Inc. (NASDAQ:RDNT) during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 54,342 shares of the medical research company’s stock, valued at approximately $3,795,000. F M Investments LLC owned about 0.07% of RadNet at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the stock. HighTower Advisors LLC grew its holdings in RadNet by 1.8% during the third 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. Highland Capital Management LLC boosted its position in shares of RadNet by 6.5% during the fourth quarter. Highland Capital Management LLC now owns 3,307 shares of the medical research company’s stock worth $231,000 after purchasing an additional 202 shares in the last quarter. Summit Financial LLC boosted its position in shares of RadNet by 2.4% during the fourth quarter. Summit Financial LLC now owns 11,111 shares of the medical research company’s stock worth $776,000 after purchasing an additional 262 shares in the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd grew its holdings in shares of RadNet by 4.3% in the 4th quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 7,389 shares of the medical research company’s stock valued at $516,000 after buying an additional 302 shares during the period. Finally, Fifth Third Bancorp increased its position in shares of RadNet by 84.3% in the 4th quarter. Fifth Third Bancorp now owns 667 shares of the medical research company’s stock valued at $47,000 after buying an additional 305 shares in the last quarter. 77.90% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at RadNet

In related news, Director David L. Swartz sold 25,000 shares of the stock in a transaction that occurred 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 completion of the transaction, 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 ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Cornelis Wesdorp sold 1,000 shares of the business’s stock in a transaction that occurred 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 transaction, the chief executive officer now directly owns 55,995 shares in the company, valued at $2,828,867.40. This trade represents a 1.75 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 38,000 shares of company stock worth $1,926,730. Insiders own 5.12% of the company’s stock.

RadNet Stock Down 1.1 %

NASDAQ:RDNT opened at $53.00 on Friday. The stock has a 50-day simple moving average of $54.49 and a 200 day simple moving average of $65.79. RadNet, Inc. has a 52-week low of $45.00 and a 52-week high of $93.65. The company has a market cap of $3.92 billion, a PE ratio of -757.03 and a beta of 1.59. 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 issued its quarterly earnings results on Thursday, February 27th. The medical research company reported $0.22 earnings per share for the quarter, topping the consensus estimate of $0.21 by $0.01. The company 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%. On average, sell-side analysts expect that RadNet, Inc. will post 0.56 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

RDNT has been the topic of several recent analyst reports. StockNews.com upgraded RadNet to a “sell” rating in a report on Wednesday, March 19th. Raymond James upgraded 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 report on Wednesday, March 5th. Jefferies Financial Group lowered their target price on RadNet from $100.00 to $80.00 and set a “buy” rating for the company in a research note on Wednesday, January 15th. Truist Financial restated a “buy” rating and set a $88.00 target price (down from $94.00) on shares of RadNet in a report on Wednesday, January 22nd. Finally, Barclays reduced their price target on shares of RadNet from $74.00 to $60.00 and set an “overweight” rating for the company in a 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 issued a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Buy” and a consensus target price of $73.25.

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.