Natixis Advisors LLC Purchases 2,009 Shares of RadNet, Inc. (NASDAQ:RDNT)

Natixis Advisors LLC boosted its stake in RadNet, Inc. (NASDAQ:RDNT) by 8.9% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 24,539 shares of the medical research company’s stock after buying an additional 2,009 shares during the period. Natixis Advisors LLC’s holdings in RadNet were worth $1,714,000 as of its most recent filing with the SEC.

Several other institutional investors have also added to or reduced their stakes in RDNT. USA Financial Formulas bought a new stake in shares of RadNet in the fourth quarter worth $30,000. Fifth Third Bancorp grew its stake in RadNet by 84.3% in the 4th 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 raised its position in RadNet by 377.0% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,345 shares of the medical research company’s stock worth $96,000 after acquiring an additional 1,063 shares during the period. IFP Advisors Inc boosted its position in RadNet by 39.1% during the fourth quarter. IFP Advisors Inc now owns 1,697 shares of the medical research company’s stock worth $119,000 after purchasing an additional 477 shares during the period. Finally, AlphaQuest LLC boosted its stake in RadNet by 14,726.7% in the 4th quarter. AlphaQuest LLC now owns 2,224 shares of the medical research company’s stock worth $155,000 after purchasing an additional 2,209 shares during the period. 77.90% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, COO Norman R. Hames sold 5,000 shares of the company’s stock in a transaction on Wednesday, March 19th. The shares were sold at an average price of $50.22, for a total value of $251,100.00. Following the sale, the chief operating officer now directly owns 251,959 shares of the company’s stock, valued at $12,653,380.98. This represents a 1.95 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Cornelis Wesdorp sold 1,000 shares of RadNet 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 transaction, the chief executive officer now owns 55,995 shares of the company’s stock, valued at approximately $2,828,867.40. This represents a 1.75 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 38,000 shares of company stock valued at $1,926,730. Insiders own 5.12% of the company’s stock.

RadNet Trading Up 5.2 %

Shares of RDNT opened at $51.83 on Tuesday. The company has a 50-day moving average of $58.48 and a 200 day moving average of $67.45. The company has a debt-to-equity ratio of 0.89, a current ratio of 2.16 and a quick ratio of 2.16. RadNet, Inc. has a 1-year low of $45.82 and a 1-year high of $93.65. The firm has a market capitalization of $3.84 billion, a price-to-earnings ratio of -740.32 and a beta of 1.85.

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, beating analysts’ consensus estimates 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 business had revenue of $477.10 million for the quarter, compared to the consensus estimate of $459.42 million. On average, research analysts expect that RadNet, Inc. will post 0.56 EPS for the current year.

Wall Street Analyst Weigh In

Several brokerages have recently commented on RDNT. Jefferies Financial Group cut 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. Raymond James upgraded shares of RadNet from an “outperform” rating to a “strong-buy” rating and reduced their price target for the company from $85.00 to $65.00 in a research report on Wednesday, March 5th. StockNews.com upgraded shares of RadNet to a “sell” rating in a report on Wednesday, March 19th. Barclays decreased 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. Finally, Truist Financial reissued a “buy” rating and set a $88.00 price target (down from $94.00) on shares of RadNet in a report on Wednesday, January 22nd. One 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 stock. Based on data from MarketBeat, the company currently has an average rating of “Buy” and a consensus target price of $73.25.

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.