3,105 Shares in RadNet, Inc. (NASDAQ:RDNT) Acquired by Highland Capital Management LLC

Highland Capital Management LLC bought a new position in RadNet, Inc. (NASDAQ:RDNT) in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 3,105 shares of the medical research company’s stock, valued at approximately $215,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its position in shares of RadNet by 8.1% during the first quarter. Vanguard Group Inc. now owns 4,600,539 shares of the medical research company’s stock valued at $223,862,000 after buying an additional 345,822 shares during the last quarter. Allspring Global Investments Holdings LLC raised its position in shares of RadNet by 11.8% during the third quarter. Allspring Global Investments Holdings LLC now owns 1,131,849 shares of the medical research company’s stock valued at $78,539,000 after buying an additional 119,875 shares during the last quarter. Hood River Capital Management LLC raised its position in shares of RadNet by 5.1% during the second quarter. Hood River Capital Management LLC now owns 1,125,712 shares of the medical research company’s stock valued at $66,327,000 after buying an additional 54,583 shares during the last quarter. Global Alpha Capital Management Ltd. raised its position in shares of RadNet by 16.2% during the first quarter. Global Alpha Capital Management Ltd. now owns 1,019,934 shares of the medical research company’s stock valued at $49,630,000 after buying an additional 141,830 shares during the last quarter. Finally, Clearbridge Investments LLC raised its position in shares of RadNet by 33.9% during the second quarter. Clearbridge Investments LLC now owns 732,527 shares of the medical research company’s stock valued at $43,160,000 after buying an additional 185,523 shares during the last quarter. 77.90% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on RDNT shares. Barclays upgraded shares of RadNet from an “equal weight” rating to an “overweight” rating and lifted their price objective for the company from $57.00 to $79.00 in a research report on Friday, September 6th. Truist Financial lifted their price objective on shares of RadNet from $70.00 to $80.00 and gave the company a “buy” rating in a research report on Monday, September 23rd. Sidoti upgraded shares of RadNet to a “strong-buy” rating in a research report on Friday, October 4th. Finally, Jefferies Financial Group boosted their price target on shares of RadNet from $75.00 to $80.00 and gave the stock a “buy” rating in a research report on Thursday, September 19th. One equities research analyst has rated the stock with a sell rating, four have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $74.75.

Insiders Place Their Bets

In other RadNet news, EVP Michael N. Murdock sold 15,000 shares of RadNet stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $62.78, for a total transaction of $941,700.00. Following the completion of the transaction, the executive vice president now directly owns 48,144 shares of the company’s stock, valued at $3,022,480.32. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 5.12% of the stock is owned by insiders.

RadNet Trading Up 0.2 %

Shares of RDNT opened at $66.37 on Monday. The company’s fifty day moving average is $66.59 and its 200 day moving average is $60.49. RadNet, Inc. has a fifty-two week low of $25.11 and a fifty-two week high of $72.18. The stock has a market capitalization of $4.90 billion, a PE ratio of 221.23 and a beta of 1.74. The company has a debt-to-equity ratio of 0.92, a quick ratio of 2.12 and a current ratio of 2.12.

RadNet (NASDAQ:RDNT) last posted its quarterly earnings data on Wednesday, August 7th. The medical research company reported $0.16 EPS for the quarter, missing the consensus estimate of $0.17 by ($0.01). The firm had revenue of $459.70 million for the quarter, compared to analysts’ expectations of $438.53 million. RadNet had a return on equity of 4.30% and a net margin of 0.58%. The firm’s quarterly revenue was up 13.9% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.24 earnings per share. Sell-side analysts expect that RadNet, Inc. will post 0.6 earnings per share for the current fiscal year.

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.