AlphaQuest LLC Has $155,000 Position in RadNet, Inc. (NASDAQ:RDNT)

AlphaQuest LLC grew its holdings in RadNet, Inc. (NASDAQ:RDNT) by 14,726.7% during the fourth quarter, Holdings Channel.com reports. The firm owned 2,224 shares of the medical research company’s stock after acquiring an additional 2,209 shares during the period. AlphaQuest LLC’s holdings in RadNet were worth $155,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in RDNT. Raymond James Financial Inc. acquired a new position in shares of RadNet during the fourth quarter valued at $33,090,000. Portolan Capital Management LLC lifted its stake in shares of 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 acquiring an additional 390,011 shares during the period. Allspring Global Investments Holdings LLC lifted its stake 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 valued at $103,532,000 after acquiring an additional 344,146 shares during the period. Cerity Partners LLC lifted its stake in shares of RadNet by 131.4% during the third 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 period. Finally, JB Capital Partners LP lifted its stake 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 valued at $104,367,000 after acquiring an additional 206,850 shares during the period. Institutional investors and hedge funds own 77.90% of the company’s stock.

RadNet Trading Up 5.3 %

NASDAQ RDNT opened at $49.02 on Tuesday. RadNet, Inc. has a 12 month low of $44.08 and a 12 month high of $93.65. The stock has a 50-day simple moving average of $60.53 and a 200 day simple moving average of $67.94. The company has a market capitalization of $3.63 billion, a PE ratio of -700.19 and a beta of 1.85. 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 announced its quarterly earnings results on Thursday, February 27th. The medical research company reported $0.22 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.21 by $0.01. RadNet had a positive return on equity of 4.29% and a negative net margin of 0.25%. The company had revenue of $477.10 million during the quarter, compared to the consensus estimate of $459.42 million. Research analysts forecast that RadNet, Inc. will post 0.56 EPS for the current year.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on RDNT. Truist Financial reaffirmed 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. Jefferies Financial Group dropped their price objective on RadNet from $100.00 to $80.00 and set a “buy” rating for the company in a report on Wednesday, January 15th. Barclays dropped their price objective on RadNet from $85.00 to $74.00 and set an “overweight” rating for the company in a report on Wednesday, January 22nd. Finally, Raymond James upgraded RadNet from an “outperform” rating to a “strong-buy” rating and dropped their price objective for the company from $85.00 to $65.00 in a report on Wednesday, March 5th. One analyst has rated the stock with a sell rating, three have given a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Buy” and an average price target of $76.75.

Insiders Place Their Bets

In related news, Director David L. Swartz sold 25,000 shares of the 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 transaction, the director now directly 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Cornelis Wesdorp sold 1,000 shares of the stock in a transaction dated Friday, March 7th. The stock was sold at an average price of $50.52, for a total value of $50,520.00. Following the transaction, the chief executive officer now owns 55,995 shares of the company’s stock, valued at approximately $2,828,867.40. The trade was a 1.75 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 28,000 shares of company stock worth $1,426,680 over the last ninety days. 5.12% of the stock is currently owned by corporate insiders.

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.