Dynamic Technology Lab Private Ltd Invests $859,000 in RadNet, Inc. (NASDAQ:RDNT)

Dynamic Technology Lab Private Ltd purchased a new stake in RadNet, Inc. (NASDAQ:RDNT) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 12,293 shares of the medical research company’s stock, valued at approximately $859,000.

Other large investors have also made changes to their positions in the company. Wells Fargo & Company MN grew its stake in RadNet by 29.4% in the fourth quarter. Wells Fargo & Company MN now owns 80,243 shares of the medical research company’s stock valued at $5,604,000 after acquiring an additional 18,231 shares during the period. Trexquant Investment LP acquired a new position in shares of RadNet in the 4th quarter valued at approximately $1,316,000. National Bank of Canada FI increased its stake in RadNet by 1,926.1% during the 4th quarter. National Bank of Canada FI now owns 7,760 shares of the medical research company’s stock worth $542,000 after purchasing an additional 7,377 shares in the last quarter. Franklin Resources Inc. raised its holdings in RadNet by 17.4% during the 4th quarter. Franklin Resources Inc. now owns 454,339 shares of the medical research company’s stock worth $31,731,000 after buying an additional 67,278 shares during the period. Finally, B. Metzler seel. Sohn & Co. AG bought a new position in RadNet in the fourth quarter valued at approximately $1,623,000. Institutional investors own 77.90% of the company’s stock.

Insider Transactions at RadNet

In other RadNet news, Director David L. Swartz sold 25,000 shares of the business’s stock in a transaction that occurred on 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 transaction, the director now owns 174,067 shares of the company’s stock, valued at $8,849,566.28. The trade was a 12.56 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Cornelis Wesdorp sold 1,000 shares of the firm’s stock in a transaction that occurred on Friday, March 7th. The shares were sold at an average price of $50.52, for a total value of $50,520.00. Following the completion of the sale, the chief executive officer now directly 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 have sold 38,000 shares of company stock worth $1,926,730 in the last ninety days. Insiders own 5.12% of the company’s stock.

Analysts Set New Price Targets

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

RadNet Stock Performance

Shares of NASDAQ RDNT opened at $48.70 on Monday. The stock has a market capitalization of $3.61 billion, a PE ratio of -695.61 and a beta of 1.59. RadNet, Inc. has a 52 week low of $45.82 and a 52 week high of $93.65. The stock has a 50 day moving average price of $56.32 and a 200 day moving average price of $66.54. The company has a debt-to-equity ratio of 0.89, a quick ratio of 2.16 and a current ratio of 2.16.

RadNet (NASDAQ:RDNT) last released its quarterly earnings data 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. The company had revenue of $477.10 million during the quarter, compared to the consensus estimate of $459.42 million. RadNet had a positive return on equity of 4.29% and a negative net margin of 0.25%. Analysts predict that RadNet, Inc. will post 0.56 earnings per share for the current fiscal year.

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.