Northwest & Ethical Investments L.P. Acquires 714 Shares of RadNet, Inc. (NASDAQ:RDNT)

Northwest & Ethical Investments L.P. raised its holdings in RadNet, Inc. (NASDAQ:RDNT) by 19.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 4,475 shares of the medical research company’s stock after acquiring an additional 714 shares during the quarter. Northwest & Ethical Investments L.P.’s holdings in RadNet were worth $312,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. State Street Corp boosted its stake in RadNet by 1.3% in the third quarter. State Street Corp now owns 2,446,179 shares of the medical research company’s stock valued at $169,740,000 after acquiring an additional 30,244 shares during the last quarter. Geode Capital Management LLC boosted its stake in RadNet by 0.8% in the third quarter. Geode Capital Management LLC now owns 1,555,214 shares of the medical research company’s stock valued at $107,936,000 after acquiring an additional 11,613 shares during the last quarter. Principal Financial Group Inc. boosted its position in shares of RadNet by 8.5% during the third 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 in the last quarter. JB Capital Partners LP boosted its position in shares of RadNet by 15.9% during the third quarter. JB Capital Partners LP now owns 1,504,061 shares of the medical research company’s stock worth $104,367,000 after purchasing an additional 206,850 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC boosted 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 worth $103,532,000 after purchasing an additional 344,146 shares in the last quarter. 77.90% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on the stock. StockNews.com raised shares of RadNet to a “sell” rating in a research report on Wednesday. Jefferies Financial Group reduced their price target on shares of RadNet from $100.00 to $80.00 and set a “buy” rating on the stock in a research report on Wednesday, January 15th. Barclays reduced their price target on shares of RadNet from $85.00 to $74.00 and set an “overweight” rating on the stock in a research report on Wednesday, January 22nd. Truist Financial reissued a “buy” rating and set a $88.00 price target (down from $94.00) on shares of RadNet in a research report on Wednesday, January 22nd. Finally, Raymond James raised shares of 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 research report on Wednesday, March 5th. One research analyst has rated the stock with a sell rating, three have given a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, RadNet currently has an average rating of “Buy” and a consensus target price of $76.75.

Insider Buying and Selling at RadNet

In other RadNet news, CEO Cornelis Wesdorp sold 1,000 shares of RadNet stock in a transaction on Friday, March 7th. The shares were sold at an average price of $50.52, for a total value of $50,520.00. Following the sale, the chief executive officer now directly owns 55,995 shares in the company, valued at approximately $2,828,867.40. The trade was a 1.75 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director David L. Swartz sold 25,000 shares of RadNet stock in a transaction on Friday, March 7th. The shares were sold at an average price of $50.84, for a total transaction of $1,271,000.00. Following the completion of the sale, the director now owns 174,067 shares in the company, valued at $8,849,566.28. The trade was a 12.56 % decrease in their ownership of the stock. 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 Trading Down 0.9 %

RDNT opened at $49.25 on Friday. The stock has a market capitalization of $3.65 billion, a P/E ratio of -703.47 and a beta of 1.85. RadNet, Inc. has a 12 month low of $45.82 and a 12 month high of $93.65. The firm’s fifty day simple moving average is $58.78 and its 200 day simple moving average is $67.46. The company has a current ratio of 2.16, a quick ratio of 2.16 and a debt-to-equity ratio of 0.89.

RadNet (NASDAQ:RDNT) last issued its quarterly earnings results on Thursday, February 27th. The medical research company reported $0.22 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.21 by $0.01. RadNet had a negative net margin of 0.25% and a positive return on equity of 4.29%. The firm had revenue of $477.10 million for the quarter, compared to analyst estimates of $459.42 million. As a group, research analysts anticipate that RadNet, Inc. will post 0.56 EPS for the current fiscal 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.