Y Intercept Hong Kong Ltd Takes $334,000 Position in RadNet, Inc. (NASDAQ:RDNT)

Y Intercept Hong Kong Ltd purchased a new position in shares of RadNet, Inc. (NASDAQ:RDNT) during the fourth quarter, Holdings Channel reports. The firm purchased 4,776 shares of the medical research company’s stock, valued at approximately $334,000.

A number of other large investors have also added to or reduced their stakes in RDNT. Portolan Capital Management LLC grew 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 worth $34,095,000 after buying an additional 390,011 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its stake in shares of RadNet by 30.4% in the 4th 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 acquiring an additional 344,146 shares during the last quarter. Cerity Partners LLC lifted its stake in shares of RadNet by 131.4% in the 3rd quarter. Cerity Partners LLC now owns 387,536 shares of the medical research company’s stock valued at $26,891,000 after acquiring an additional 220,068 shares during the last quarter. JB Capital Partners LP lifted its stake in shares of RadNet by 15.9% in the 3rd quarter. JB Capital Partners LP now owns 1,504,061 shares of the medical research company’s stock valued at $104,367,000 after acquiring an additional 206,850 shares during the last quarter. Finally, WCM Investment Management LLC bought a new position in RadNet during the 4th quarter worth $14,110,000. Institutional investors and hedge funds own 77.90% of the company’s stock.

RadNet Price Performance

RadNet stock opened at $50.85 on Tuesday. RadNet, Inc. has a 52 week low of $42.45 and a 52 week high of $93.65. The company’s 50 day moving average price is $64.99 and its two-hundred day moving average price is $69.00. 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 stock has a market cap of $3.76 billion, a P/E ratio of -726.32 and a beta of 1.79.

RadNet (NASDAQ:RDNT) last posted its quarterly 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. The company had revenue of $477.10 million for 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 analysts predict that RadNet, Inc. will post 0.56 earnings per share for the current year.

Wall Street Analysts Forecast Growth

RDNT has been the subject of several analyst reports. Jefferies Financial Group lowered their target price on RadNet from $100.00 to $80.00 and set a “buy” rating for the company in a research report on Wednesday, January 15th. Barclays reduced their target price 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, Truist Financial reiterated a “buy” rating and set a $88.00 price target (down previously from $94.00) on shares of RadNet in a research note on Wednesday, January 22nd. One investment analyst has rated the stock with a sell rating, four have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $75.50.

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.