Expect Equity LLC Buys Shares of 31,686 RadNet, Inc. $RDNT

Expect Equity LLC purchased a new stake in RadNet, Inc. (NASDAQ:RDNT) in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor purchased 31,686 shares of the medical research company’s stock, valued at approximately $1,954,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in RDNT. BlackRock Inc. acquired a new position in shares of RadNet in the 2nd quarter valued at $675,768,000. JB Capital Partners LP purchased a new position in shares of RadNet during the 2nd quarter worth $87,821,842,000. RTW Investments LP increased its position in shares of RadNet by 39.9% during the 4th quarter. RTW Investments LP now owns 3,938,500 shares of the medical research company’s stock worth $281,012,000 after purchasing an additional 1,122,956 shares during the last quarter. Polar Capital Holdings Plc acquired a new stake in shares of RadNet during the 3rd quarter worth about $63,423,000. Finally, Price T Rowe Associates Inc. MD raised its holdings in RadNet by 30.3% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 2,699,082 shares of the medical research company’s stock valued at $192,581,000 after buying an additional 627,936 shares during the period. Institutional investors and hedge funds own 77.90% of the company’s stock.

RadNet Stock Performance

Shares of RDNT stock opened at $76.86 on Wednesday. The company has a quick ratio of 1.48, a current ratio of 1.48 and a debt-to-equity ratio of 0.94. RadNet, Inc. has a 52 week low of $50.82 and a 52 week high of $85.84. The stock has a market capitalization of $6.05 billion, a PE ratio of -284.66 and a beta of 1.36. The firm has a 50 day moving average of $65.99 and a two-hundred day moving average of $62.07.

RadNet (NASDAQ:RDNT) last posted its quarterly earnings data on Monday, August 10th. The medical research company reported $0.29 earnings per share for the quarter, topping analysts’ consensus estimates of $0.20 by $0.09. The business had revenue of $622.72 million for the quarter, compared to analyst estimates of $610.87 million. RadNet had a positive return on equity of 2.61% and a negative net margin of 0.93%.The company’s revenue was up 25.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.31 earnings per share. On average, research analysts predict that RadNet, Inc. will post 0.49 EPS for the current fiscal year.

Insider Buying and Selling at RadNet

In other news, Director David L. Swartz sold 2,699 shares of the business’s stock in a transaction dated Thursday, June 18th. The stock was sold at an average price of $53.89, for a total transaction of $145,449.11. Following the completion of the transaction, the director directly owned 177,013 shares of the company’s stock, valued at approximately $9,539,230.57. The trade was a 1.50% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Cornelis Wesdorp sold 4,750 shares of the business’s stock in a transaction dated Tuesday, June 16th. The stock was sold at an average price of $58.11, for a total value of $276,022.50. Following the transaction, the chief executive officer directly owned 69,075 shares of the company’s stock, valued at approximately $4,013,948.25. This represents a 6.43% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 5.14% of the company’s stock.

Analyst Upgrades and Downgrades

RDNT has been the topic of a number of recent analyst reports. Barclays decreased their target price on shares of RadNet from $70.00 to $65.00 and set an “overweight” rating on the stock in a research report on Wednesday, May 20th. Weiss Ratings reissued a “sell (d-)” rating on shares of RadNet in a research note on Friday, August 7th. Jefferies Financial Group reissued a “buy” rating on shares of RadNet in a research note on Friday, July 31st. Truist Financial upped their price objective on shares of RadNet from $90.00 to $94.00 and gave the stock a “buy” rating in a report on Tuesday, August 11th. Finally, Zacks Research raised shares of RadNet from a “strong sell” rating to a “hold” rating in a research report on Thursday, August 13th. Two research analysts have rated the stock with a Strong Buy rating, five have given a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $88.00.

RadNet Company Profile

RadNet, Inc is a leading independent provider of outpatient diagnostic imaging services in the United States. Through a nationwide network of fixed-site imaging centers and affiliated joint-venture locations, the company delivers a comprehensive suite of radiology services including MRI, CT, PET/CT, ultrasound, X-ray, mammography, bone densitometry, nuclear medicine and interventional radiology procedures. RadNet also offers teleradiology and imaging management solutions to physician practices, hospitals and healthcare systems.

Founded in 1981 and headquartered in Los Angeles, RadNet has expanded its footprint organically and through strategic acquisitions.