RadNet, Inc. $RDNT Shares Sold by Beck Mack & Oliver LLC

Beck Mack & Oliver LLC lessened its stake in shares of RadNet, Inc. (NASDAQ:RDNT) by 0.5% during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 3,263,141 shares of the medical research company’s stock after selling 17,308 shares during the quarter. RadNet comprises about 3.5% of Beck Mack & Oliver LLC’s investment portfolio, making the stock its 10th biggest position. Beck Mack & Oliver LLC owned about 4.24% of RadNet worth $185,705,000 as of its most recent filing with the SEC.

Other hedge funds also recently bought and sold shares of the company. BNP Paribas Financial Markets lifted its position in shares of RadNet by 24.8% in the second quarter. BNP Paribas Financial Markets now owns 6,992 shares of the medical research company’s stock valued at $398,000 after acquiring an additional 1,388 shares in the last quarter. Bamco Inc. NY raised its stake in RadNet by 14.1% in the 2nd quarter. Bamco Inc. NY now owns 810,000 shares of the medical research company’s stock valued at $46,097,000 after purchasing an additional 100,000 shares during the last quarter. Bank of America Corp DE lifted its holdings in RadNet by 7.1% in the 2nd quarter. Bank of America Corp DE now owns 375,957 shares of the medical research company’s stock valued at $21,396,000 after purchasing an additional 24,900 shares in the last quarter. Adage Capital Partners GP L.L.C. lifted its stake in shares of RadNet by 142.1% during the second quarter. Adage Capital Partners GP L.L.C. now owns 403,150 shares of the medical research company’s stock valued at $22,943,000 after buying an additional 236,648 shares during the period. Finally, Ameriprise Financial Inc. boosted its position in RadNet by 79.7% during the second quarter. Ameriprise Financial Inc. now owns 1,394,552 shares of the medical research company’s stock worth $79,364,000 after acquiring an additional 618,392 shares during the last quarter. Hedge funds and other institutional investors own 77.90% of the company’s stock.

Analyst Ratings Changes

RDNT has been the subject of several analyst reports. Truist Financial boosted their price target on RadNet from $81.00 to $90.00 and gave the company a “buy” rating in a report on Wednesday, November 12th. Zacks Research lowered RadNet from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, November 12th. Wall Street Zen raised RadNet from a “sell” rating to a “hold” rating in a research note on Saturday, August 16th. Weiss Ratings restated a “sell (d-)” rating on shares of RadNet in a report on Monday. Finally, Raymond James Financial reiterated a “strong-buy” rating and set a $95.00 price objective on shares of RadNet in a report on Friday, November 14th. One research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, RadNet currently has an average rating of “Moderate Buy” and an average price target of $87.60.

RadNet Stock Performance

RadNet stock opened at $73.94 on Friday. The company has a market cap of $5.70 billion, a price-to-earnings ratio of -434.92 and a beta of 1.49. RadNet, Inc. has a 12 month low of $45.00 and a 12 month high of $85.84. The company has a debt-to-equity ratio of 0.82, a current ratio of 1.87 and a quick ratio of 1.87. The stock’s 50-day moving average is $78.36 and its 200-day moving average is $68.48.

RadNet (NASDAQ:RDNT) last issued its earnings results on Monday, November 10th. The medical research company reported $0.20 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.03). RadNet had a positive return on equity of 2.52% and a negative net margin of 0.65%.The firm had revenue of $522.87 million for the quarter, compared to analysts’ expectations of $494.19 million. During the same quarter in the previous year, the firm posted $0.18 EPS. The firm’s revenue for the quarter was up 13.4% compared to the same quarter last year. Equities analysts anticipate that RadNet, Inc. will post 0.56 earnings per share for the current year.

Insiders Place Their Bets

In other RadNet news, CAO Mital Patel sold 25,000 shares of the firm’s stock in a transaction dated Monday, November 17th. The stock was sold at an average price of $76.06, for a total value of $1,901,500.00. Following the transaction, the chief accounting officer directly owned 205,138 shares of the company’s stock, valued at $15,602,796.28. This trade represents a 10.86% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Mark Stolper sold 35,000 shares of the business’s stock in a transaction dated Tuesday, September 16th. The stock was sold at an average price of $73.89, for a total value of $2,586,150.00. Following the transaction, the executive vice president owned 68,012 shares in the company, valued at approximately $5,025,406.68. This represents a 33.98% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 85,000 shares of company stock worth $6,488,404. Insiders own 5.60% of the company’s stock.

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.