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

Y Intercept Hong Kong Ltd acquired a new position in shares of RadNet, Inc. (NASDAQ:RDNT) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 4,776 shares of the medical research company’s stock, valued at approximately $334,000.

A number of other institutional investors have also made changes to their positions in RDNT. Covestor Ltd grew its stake in shares of RadNet by 10,875.0% during the third quarter. Covestor Ltd now owns 439 shares of the medical research company’s stock worth $30,000 after purchasing an additional 435 shares during the period. USA Financial Formulas bought a new stake in shares of RadNet in the fourth quarter valued at about $30,000. Fifth Third Bancorp lifted its holdings in shares of RadNet by 84.3% in 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 in the last quarter. Peterson Financial Group Inc. bought a new stake in shares of RadNet in the third quarter valued at about $90,000. Finally, KBC Group NV lifted its holdings in shares of RadNet by 47.6% in the fourth quarter. KBC Group NV now owns 2,678 shares of the medical research company’s stock valued at $187,000 after purchasing an additional 864 shares in the last quarter. 77.90% of the stock is owned by institutional investors and hedge funds.

RadNet Price Performance

NASDAQ:RDNT opened at $50.85 on Tuesday. 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’s 50 day moving average price is $64.99 and its two-hundred day moving average price is $69.00. The firm has a market capitalization of $3.76 billion, a price-to-earnings ratio of -726.32 and a beta of 1.79. RadNet, Inc. has a 12-month low of $42.45 and a 12-month high of $93.65.

RadNet (NASDAQ:RDNT) last posted 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 positive return on equity of 4.29% and a negative net margin of 0.25%. The company had revenue of $477.10 million for the quarter, compared to the consensus estimate of $459.42 million. On average, analysts anticipate that RadNet, Inc. will post 0.56 earnings per share for the current year.

Analysts Set New Price Targets

A number of analysts have recently commented on the company. Barclays cut their price target on RadNet from $85.00 to $74.00 and set an “overweight” rating on the stock in a report on Wednesday, January 22nd. Jefferies Financial Group dropped their target price on RadNet from $100.00 to $80.00 and set a “buy” rating on the stock in a report on Wednesday, January 15th. Finally, Truist Financial reiterated a “buy” rating and set a $88.00 target price (down previously from $94.00) on shares of RadNet in a report on Wednesday, January 22nd. One investment analyst has rated the stock with a sell rating, four have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $75.50.

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.