Twin Tree Management LP Takes $106,000 Position in RadNet, Inc. (NASDAQ:RDNT)

Twin Tree Management LP bought a new stake in RadNet, Inc. (NASDAQ:RDNT) in the fourth quarter, HoldingsChannel reports. The fund bought 1,518 shares of the medical research company’s stock, valued at approximately $106,000.

Other large investors have also modified their holdings of the company. Franklin Resources Inc. grew its stake in shares of RadNet by 12.0% in the third quarter. Franklin Resources Inc. now owns 387,061 shares of the medical research company’s stock valued at $27,334,000 after buying an additional 41,381 shares in the last quarter. KBC Group NV grew its stake in shares of RadNet by 47.6% in the fourth quarter. KBC Group NV now owns 2,678 shares of the medical research company’s stock valued at $187,000 after buying an additional 864 shares in the last quarter. Pathstone Holdings LLC grew its stake in shares of RadNet by 58.5% in the third quarter. Pathstone Holdings LLC now owns 27,503 shares of the medical research company’s stock valued at $1,908,000 after buying an additional 10,151 shares in the last quarter. Allspring Global Investments Holdings LLC grew its stake in shares of RadNet by 30.4% in 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 buying an additional 344,146 shares in the last quarter. Finally, JPMorgan Chase & Co. grew its stake in shares of RadNet by 1.4% in the third quarter. JPMorgan Chase & Co. now owns 132,997 shares of the medical research company’s stock valued at $9,229,000 after buying an additional 1,838 shares in the last quarter. Institutional investors and hedge funds own 77.90% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have weighed in on RDNT shares. Truist Financial restated a “buy” rating and set a $88.00 price objective (down previously from $94.00) on shares of RadNet in a research note on Wednesday, January 22nd. StockNews.com upgraded RadNet to a “sell” rating in a research note on Wednesday. Jefferies Financial Group lowered their price objective on RadNet from $100.00 to $80.00 and set a “buy” rating for the company in a research note on Wednesday, January 15th. Barclays lowered their price objective on RadNet from $85.00 to $74.00 and set an “overweight” rating for the company in a research note 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 note on Wednesday, March 5th. 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. According to data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus price target of $76.75.

Insider Buying and Selling

In related news, CEO Cornelis Wesdorp sold 1,000 shares of the firm’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 sale, the chief executive officer now owns 55,995 shares of the company’s stock, valued at approximately $2,828,867.40. This trade represents a 1.75 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director David L. Swartz sold 25,000 shares of the firm’s stock in a transaction that occurred 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 completion of the sale, the director now directly owns 174,067 shares in the company, valued at approximately $8,849,566.28. This trade represents a 12.56 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 38,000 shares of company stock valued at $1,926,730. Insiders own 5.12% of the company’s stock.

RadNet Trading Up 4.7 %

NASDAQ:RDNT opened at $50.71 on Thursday. The company has a quick ratio of 2.16, a current ratio of 2.16 and a debt-to-equity ratio of 0.89. The business’s 50 day moving average is $59.62 and its two-hundred day moving average is $67.70. RadNet, Inc. has a 52 week low of $45.16 and a 52 week high of $93.65. The company has a market cap of $3.75 billion, a PE ratio of -724.33 and a beta of 1.85.

RadNet (NASDAQ:RDNT) last released its 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. 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 the consensus estimate of $459.42 million. On average, analysts predict that RadNet, Inc. will post 0.56 EPS for the current year.

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.