12,042 RadNet, Inc. $RDNT Shares Sold by State of Alaska Department of Revenue

State of Alaska Department of Revenue lowered its position in RadNet, Inc. (NASDAQ:RDNT) by 43.6% during the third quarter, according to its most recent filing with the SEC. The institutional investor owned 15,572 shares of the medical research company’s stock after selling 12,042 shares during the period. State of Alaska Department of Revenue’s holdings in RadNet were worth $1,072,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Wedmont Private Capital acquired a new stake in shares of RadNet in the third quarter valued at about $323,000. GAMMA Investing LLC lifted its stake in shares of RadNet by 10.6% in the third quarter. GAMMA Investing LLC now owns 2,321 shares of the medical research company’s stock worth $160,000 after buying an additional 222 shares in the last quarter. Farther Finance Advisors LLC boosted its position in RadNet by 60.2% during the third quarter. Farther Finance Advisors LLC now owns 596 shares of the medical research company’s stock worth $41,000 after acquiring an additional 224 shares during the last quarter. Sequoia Financial Advisors LLC boosted its position in RadNet by 1.9% during the second quarter. Sequoia Financial Advisors LLC now owns 115,120 shares of the medical research company’s stock worth $7,099,000 after acquiring an additional 2,128 shares during the last quarter. Finally, Engineers Gate Manager LP purchased a new stake in RadNet during the 2nd quarter valued at about $500,000. Hedge funds and other institutional investors own 77.90% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have commented on the stock. Weiss Ratings reiterated a “sell (d-)” rating on shares of RadNet in a report on Friday, August 7th. Truist Financial raised their target price on shares of RadNet from $90.00 to $94.00 and gave the stock a “buy” rating in a research note on Tuesday, August 11th. Barclays boosted their target price on RadNet from $65.00 to $79.00 and gave the stock an “overweight” rating in a report on Friday, August 28th. Jefferies Financial Group restated a “buy” rating on shares of RadNet in a research report on Friday, July 31st. Finally, Raymond James Financial reaffirmed a “strong-buy” rating on shares of RadNet in a report on Tuesday, September 22nd. Three equities research analysts have rated the stock with a Strong Buy rating, five have given a Buy rating and one has issued a Sell rating to the company. According to MarketBeat, RadNet currently has an average rating of “Buy” and a consensus target price of $90.00.

RadNet Trading Up 0.5%

Shares of RDNT stock opened at $69.65 on Wednesday. The company’s 50-day moving average price is $73.23 and its 200-day moving average price is $64.12. The company has a current ratio of 1.48, a quick ratio of 1.48 and a debt-to-equity ratio of 0.94. The stock has a market cap of $5.48 billion, a price-to-earnings ratio of 157.43 and a beta of 1.41. RadNet, Inc. has a twelve month low of $50.82 and a twelve month high of $85.84.

RadNet (NASDAQ:RDNT) last released its quarterly earnings data on Monday, August 10th. The medical research company reported $0.29 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.20 by $0.09. The firm had revenue of $622.72 million during the quarter, compared to analysts’ expectations of $610.87 million. RadNet had a negative net margin of 0.93% and a positive return on equity of 2.61%. RadNet’s revenue was up 25.0% compared to the same quarter last year. During the same period last year, the business earned $0.31 earnings per share. As a group, equities analysts predict that RadNet, Inc. will post 0.49 earnings per share for the current year.

RadNet Company Profile

RadNet, Inc (NASDAQ: RDNT) is an outpatient diagnostic imaging company that operates imaging centers and provides related healthcare services. Its facilities offer diagnostic radiology and imaging procedures used to help detect, diagnose, and monitor medical conditions.

The company’s services generally include magnetic resonance imaging (MRI), computed tomography (CT), positron emission tomography (PET), mammography, ultrasound, X-ray, and other imaging procedures. RadNet also provides image-guided and interventional radiology services in selected markets, along with digital imaging, radiology, and information-technology solutions.

Founded in 1981, RadNet serves patients, physicians, hospitals, and other healthcare organizations through a network of outpatient imaging centers primarily located in the United States, including markets in California, New York, New Jersey, Maryland, and Delaware.