WINTON GROUP Ltd Purchases New Stake in RadNet, Inc. (NASDAQ:RDNT)

WINTON GROUP Ltd acquired a new position in shares of RadNet, Inc. (NASDAQ:RDNT) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 4,920 shares of the medical research company’s stock, valued at approximately $344,000.

A number of other large investors have also recently bought and sold shares of RDNT. Raymond James Financial Inc. bought a new stake in shares of RadNet during the 4th quarter worth approximately $33,090,000. Portolan Capital Management LLC raised its position in RadNet by 384.8% during the third quarter. Portolan Capital Management LLC now owns 491,358 shares of the medical research company’s stock valued at $34,095,000 after purchasing an additional 390,011 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its stake in 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 during the last quarter. WCM Investment Management LLC acquired a new stake in shares of RadNet in the 4th quarter valued at $14,110,000. Finally, Principal Financial Group Inc. boosted 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 valued at $104,539,000 after purchasing an additional 118,501 shares in the last quarter. 77.90% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, CEO Cornelis Wesdorp sold 2,000 shares of the company’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 value of $105,160.00. Following the sale, the chief executive officer now directly owns 58,995 shares in the company, valued at $3,101,957.10. This represents a 3.28 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, COO Norman R. Hames sold 5,000 shares of the firm’s stock in a transaction that occurred on Monday, March 17th. The stock was sold at an average price of $49.79, for a total transaction of $248,950.00. Following the transaction, the chief operating officer now owns 261,959 shares of the company’s stock, valued at approximately $13,042,938.61. The trade was a 1.87 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 38,000 shares of company stock valued at $1,926,730 in the last three months. Insiders own 5.12% of the company’s stock.

RadNet Stock Performance

RadNet stock opened at $49.44 on Monday. The business has a 50 day moving average of $57.55 and a 200-day moving average of $67.13. The company has a debt-to-equity ratio of 0.89, a current ratio of 2.16 and a quick ratio of 2.16. RadNet, Inc. has a 1 year low of $45.82 and a 1 year high of $93.65. The company has a market capitalization of $3.66 billion, a P/E ratio of -706.18 and a beta of 1.85.

RadNet (NASDAQ:RDNT) last announced 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. 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%. On average, equities research analysts predict that RadNet, Inc. will post 0.56 earnings per share for the current year.

Analysts Set New Price Targets

Several analysts recently weighed in on RDNT shares. Raymond James upgraded RadNet from an “outperform” rating to a “strong-buy” rating and dropped their price objective for the stock from $85.00 to $65.00 in a research report on Wednesday, March 5th. Jefferies Financial Group dropped their target price on shares of RadNet from $100.00 to $80.00 and set a “buy” rating for the company in a report on Wednesday, January 15th. StockNews.com raised shares of RadNet to a “sell” rating in a report on Wednesday, March 19th. Barclays dropped their price objective 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, Truist Financial reaffirmed a “buy” rating and set a $88.00 target price (down previously from $94.00) on shares of RadNet in a research note on Wednesday, January 22nd. One analyst has rated the stock with a sell rating, three have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Buy” and a consensus price target of $73.25.

RadNet 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.