54,436 Shares in RadNet, Inc. $RDNT Purchased by EFG International AG

EFG International AG bought a new position in RadNet, Inc. (NASDAQ:RDNT) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 54,436 shares of the medical research company’s stock, valued at approximately $3,357,000.

Other hedge funds have also added to or reduced their stakes in the company. AQR Capital Management LLC increased its position in shares of RadNet by 5.4% during the first quarter. AQR Capital Management LLC now owns 6,846 shares of the medical research company’s stock valued at $340,000 after buying an additional 350 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in shares of RadNet by 4.5% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 39,341 shares of the medical research company’s stock valued at $1,956,000 after acquiring an additional 1,699 shares during the period. Jones Financial Companies Lllp boosted its position in shares of RadNet by 563.4% in the first quarter. Jones Financial Companies Lllp now owns 1,705 shares of the medical research company’s stock valued at $85,000 after acquiring an additional 1,448 shares during the period. United Services Automobile Association purchased a new position in RadNet during the first quarter valued at approximately $216,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in RadNet by 2.0% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 440,543 shares of the medical research company’s stock valued at $21,904,000 after acquiring an additional 8,762 shares in the last quarter. Hedge funds and other institutional investors own 77.90% of the company’s stock.

Analyst Ratings Changes

Several analysts have issued reports on RDNT shares. Jefferies Financial Group reiterated a “buy” rating on shares of RadNet in a research note on Friday, July 31st. Truist Financial boosted their price target on shares of RadNet from $90.00 to $94.00 and gave the company a “buy” rating in a research report on Tuesday, August 11th. Zacks Research raised shares of RadNet from a “strong sell” rating to a “hold” rating in a report on Thursday, August 13th. Weiss Ratings reiterated a “sell (d-)” rating on shares of RadNet in a research report on Friday, August 7th. Finally, Barclays dropped their price objective on RadNet from $70.00 to $65.00 and set an “overweight” rating for the company in a research note on Wednesday, May 20th. Two investment 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 company’s stock. According to data from MarketBeat, RadNet currently has a consensus rating of “Moderate Buy” and a consensus price target of $88.00.

RadNet Trading Down 0.5%

Shares of RDNT opened at $76.47 on Thursday. The firm’s 50 day simple moving average is $66.46 and its 200 day simple moving average is $62.16. The company has a market capitalization of $6.02 billion, a P/E ratio of -283.21 and a beta of 1.36. The company has a debt-to-equity ratio of 0.94, a current ratio of 1.48 and a quick ratio of 1.48. RadNet, Inc. has a 1-year low of $50.82 and a 1-year high of $85.84.

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

Insider Buying and Selling at RadNet

In other RadNet news, Director David L. Swartz sold 2,699 shares of RadNet 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 sale, the director owned 177,013 shares of the company’s stock, valued at $9,539,230.57. The trade was a 1.50% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Cornelis Wesdorp sold 4,750 shares of the company’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 completion of the transaction, the chief executive officer owned 69,075 shares of the company’s stock, valued at $4,013,948.25. The trade was a 6.43% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Company insiders own 5.14% of the company’s stock.

RadNet 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.