Tower Research Capital LLC TRC Purchases 422 Shares of RadNet, Inc. (NASDAQ:RDNT)

Tower Research Capital LLC TRC increased its holdings in RadNet, Inc. (NASDAQ:RDNT) by 42.2% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,422 shares of the medical research company’s stock after acquiring an additional 422 shares during the quarter. Tower Research Capital LLC TRC’s holdings in RadNet were worth $99,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the business. MetLife Investment Management LLC grew its position in RadNet by 4.7% during the 4th quarter. MetLife Investment Management LLC now owns 39,969 shares of the medical research company’s stock worth $2,791,000 after purchasing an additional 1,801 shares during the last quarter. First Trust Advisors LP raised its position in RadNet by 40.4% during the 4th quarter. First Trust Advisors LP now owns 107,679 shares of the medical research company’s stock worth $7,520,000 after buying an additional 30,975 shares during the last quarter. Canada Pension Plan Investment Board purchased a new position in RadNet during the 4th quarter worth approximately $105,000. Marshall Wace LLP lifted its stake in RadNet by 11.5% during the 4th quarter. Marshall Wace LLP now owns 1,222,690 shares of the medical research company’s stock valued at $85,393,000 after acquiring an additional 125,844 shares during the period. Finally, Jump Financial LLC purchased a new stake in shares of RadNet in the 4th quarter valued at $231,000. 77.90% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on RDNT. Jefferies Financial Group cut 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. Raymond James upgraded RadNet from an “outperform” rating to a “strong-buy” rating and dropped their target price for the company from $85.00 to $65.00 in a research report on Wednesday, March 5th. Truist Financial cut their price target on 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 raised RadNet to a “sell” rating in a report on Wednesday, March 19th. Finally, Barclays reduced their target price on RadNet from $74.00 to $60.00 and set an “overweight” rating for the company in a research note on Monday, March 24th. One 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 company. According to MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus price target of $69.75.

RadNet Stock Down 1.1 %

NASDAQ RDNT opened at $55.77 on Friday. 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 52 week low of $45.00 and a 52 week high of $93.65. The business’s fifty day simple moving average is $50.77 and its 200-day simple moving average is $63.41. The firm has a market cap of $4.18 billion, a PE ratio of -796.60 and a beta of 1.46.

RadNet (NASDAQ:RDNT) last issued its quarterly earnings data on Thursday, February 27th. The medical research company reported $0.22 EPS for the quarter, topping 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, equities analysts anticipate that RadNet, Inc. will post 0.56 earnings per share for the current year.

Insider Buying and Selling at RadNet

In other RadNet news, CEO Cornelis Wesdorp sold 2,000 shares of the stock in a transaction that occurred on Wednesday, March 5th. The shares were 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 of the company’s stock, valued at approximately $3,101,957.10. This represents a 3.28 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, COO Norman R. Hames sold 5,000 shares of the firm’s stock in a transaction on Monday, March 17th. The shares were sold at an average price of $49.79, for a total value of $248,950.00. Following the completion of the sale, the chief operating officer now owns 261,959 shares in the company, valued at approximately $13,042,938.61. This represents a 1.87 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 38,000 shares of company stock valued at $1,926,730 in the last 90 days. 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.