RadNet, Inc. (NASDAQ:RDNT) Position Boosted by First Trust Advisors LP

First Trust Advisors LP boosted its position in RadNet, Inc. (NASDAQ:RDNT) by 40.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 107,679 shares of the medical research company’s stock after buying an additional 30,975 shares during the quarter. First Trust Advisors LP owned approximately 0.15% of RadNet worth $7,520,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of RDNT. Canada Pension Plan Investment Board acquired a new stake in shares of RadNet during the 4th quarter valued at approximately $105,000. Marshall Wace LLP lifted its position in shares of RadNet by 11.5% in the 4th quarter. Marshall Wace LLP now owns 1,222,690 shares of the medical research company’s stock worth $85,393,000 after buying an additional 125,844 shares during the last quarter. Jump Financial LLC acquired a new position in shares of RadNet in the 4th quarter valued at about $231,000. Barclays PLC boosted its holdings in shares of RadNet by 7.3% in the 4th quarter. Barclays PLC now owns 125,570 shares of the medical research company’s stock valued at $8,770,000 after buying an additional 8,592 shares during the period. Finally, Summit Investment Advisors Inc. grew its position in shares of RadNet by 3.3% during the 4th quarter. Summit Investment Advisors Inc. now owns 6,917 shares of the medical research company’s stock valued at $483,000 after buying an additional 219 shares during the last quarter. Institutional investors own 77.90% of the company’s stock.

RadNet Stock Performance

RDNT stock opened at $52.07 on Wednesday. The company has a 50-day simple moving average of $51.23 and a 200 day simple moving average of $64.21. The company has a market capitalization of $3.86 billion, a P/E ratio of -743.75 and a beta of 1.59. 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 fifty-two week low of $45.00 and a fifty-two week high of $93.65.

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 analysts’ consensus estimates 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 company had revenue of $477.10 million during the quarter, compared to analyst estimates of $459.42 million. Sell-side analysts predict that RadNet, Inc. will post 0.56 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

RDNT has been the subject of a number of research reports. Truist Financial decreased their target price 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 upgraded RadNet to a “sell” rating in a research note on Wednesday, March 19th. Barclays cut their target price on RadNet from $74.00 to $60.00 and set an “overweight” rating on the stock in a research note on Monday, March 24th. Raymond James raised shares of 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 report on Wednesday, March 5th. Finally, Jefferies Financial Group reduced their target price on shares of RadNet from $100.00 to $80.00 and set a “buy” rating for the company in a research note on Wednesday, January 15th. One analyst has rated the stock with a sell rating, three have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus target price of $69.75.

Insider Activity

In related news, CEO Cornelis Wesdorp sold 2,000 shares of RadNet stock in a transaction dated Wednesday, March 5th. The stock was sold at an average price of $52.58, for a total transaction of $105,160.00. Following the transaction, the chief executive officer now directly owns 58,995 shares of the company’s stock, valued at $3,101,957.10. The trade was a 3.28 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director David L. Swartz sold 25,000 shares of the business’s stock in a transaction dated 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 sale, the director now owns 174,067 shares in the company, valued at approximately $8,849,566.28. This trade represents a 12.56 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 38,000 shares of company stock worth $1,926,730. 5.12% of the stock is owned by company insiders.

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.