WINTON GROUP Ltd Makes New $344,000 Investment in RadNet, Inc. (NASDAQ:RDNT)

WINTON GROUP Ltd purchased a new position in shares of RadNet, Inc. (NASDAQ:RDNT) during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor purchased 4,920 shares of the medical research company’s stock, valued at approximately $344,000.

Other large investors also recently modified their holdings of the company. USA Financial Formulas acquired a new position in shares of RadNet during the 4th quarter valued at $30,000. Fifth Third Bancorp raised its holdings in shares of RadNet by 84.3% during the fourth quarter. Fifth Third Bancorp now owns 667 shares of the medical research company’s stock valued at $47,000 after purchasing an additional 305 shares during the period. Smartleaf Asset Management LLC boosted its position in shares of RadNet by 377.0% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,345 shares of the medical research company’s stock worth $96,000 after purchasing an additional 1,063 shares in the last quarter. Twin Tree Management LP acquired a new stake in shares of RadNet in the 4th quarter valued at about $106,000. Finally, IFP Advisors Inc increased its position in RadNet by 39.1% in the 4th quarter. IFP Advisors Inc now owns 1,697 shares of the medical research company’s stock valued at $119,000 after buying an additional 477 shares in the last quarter. Institutional investors and hedge funds own 77.90% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on RDNT shares. Truist Financial reissued a “buy” rating and issued a $88.00 price objective (down previously from $94.00) on shares of RadNet in a research note on Wednesday, January 22nd. StockNews.com raised shares of RadNet to a “sell” rating in a research report on Wednesday, March 19th. Raymond James upgraded shares of RadNet from an “outperform” rating to a “strong-buy” rating and lowered their price objective for the stock from $85.00 to $65.00 in a report on Wednesday, March 5th. Barclays reduced their price objective on shares of RadNet from $74.00 to $60.00 and set an “overweight” rating for the company in a report on Monday, March 24th. Finally, Jefferies Financial Group lowered their target price on shares of RadNet from $100.00 to $80.00 and set a “buy” rating on the stock in a report on Wednesday, January 15th. One research 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 company. Based on data from MarketBeat, RadNet has an average rating of “Buy” and a consensus target price of $73.25.

RadNet Price Performance

Shares of NASDAQ:RDNT opened at $49.44 on Monday. The company has a current ratio of 2.16, a quick ratio of 2.16 and a debt-to-equity ratio of 0.89. The stock has a market cap of $3.66 billion, a PE ratio of -706.18 and a beta of 1.85. The stock’s fifty day simple moving average is $57.55 and its two-hundred day simple moving average is $67.13. RadNet, Inc. has a 1-year low of $45.82 and a 1-year high of $93.65.

RadNet (NASDAQ:RDNT) last announced its earnings results on Thursday, February 27th. The medical research company reported $0.22 EPS for the quarter, beating 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 company had revenue of $477.10 million during the quarter, compared to the consensus estimate of $459.42 million. As a group, analysts forecast that RadNet, Inc. will post 0.56 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, CEO Cornelis Wesdorp sold 2,000 shares of the stock in a transaction that occurred on Wednesday, March 5th. The stock was sold at an average price of $52.58, for a total transaction of $105,160.00. Following the completion of 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 trade represents a 3.28 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director David L. Swartz sold 25,000 shares of the business’s stock in a transaction on Friday, March 7th. The stock was sold at an average price of $50.84, for a total value 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 represents a 12.56 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 38,000 shares of company stock valued at $1,926,730 in the last 90 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.