Universal Beteiligungs und Servicegesellschaft mbH Raises Holdings in RadNet, Inc. $RDNT

Universal Beteiligungs und Servicegesellschaft mbH increased its stake in shares of RadNet, Inc. (NASDAQ:RDNT) by 8.5% in the 2nd quarter, HoldingsChannel reports. The firm owned 46,267 shares of the medical research company’s stock after buying an additional 3,630 shares during the quarter. Universal Beteiligungs und Servicegesellschaft mbH’s holdings in RadNet were worth $2,633,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of the stock. Private Advisor Group LLC increased its position in RadNet by 25.0% during the first quarter. Private Advisor Group LLC now owns 4,675 shares of the medical research company’s stock worth $232,000 after buying an additional 935 shares in the last quarter. TD Asset Management Inc increased its position in RadNet by 77.9% during the 1st quarter. TD Asset Management Inc now owns 52,996 shares of the medical research company’s stock worth $2,635,000 after purchasing an additional 23,212 shares in the last quarter. LPL Financial LLC increased its position in RadNet by 616.4% during the 1st quarter. LPL Financial LLC now owns 45,260 shares of the medical research company’s stock worth $2,235,000 after purchasing an additional 38,942 shares in the last quarter. Wellington Shields & Co. LLC acquired a new position in RadNet in the 1st quarter valued at about $393,000. Finally, Modera Wealth Management LLC purchased a new position in RadNet in the 1st quarter valued at about $218,000. Institutional investors and hedge funds own 77.90% of the company’s stock.

RadNet Stock Performance

NASDAQ:RDNT opened at $84.48 on Tuesday. The company has a market cap of $6.52 billion, a P/E ratio of -422.38 and a beta of 1.58. The firm’s 50 day moving average is $77.48 and its two-hundred day moving average is $66.58. RadNet, Inc. has a fifty-two week low of $45.00 and a fifty-two week high of $85.42. The company has a quick ratio of 2.00, a current ratio of 2.00 and a debt-to-equity ratio of 0.91.

RadNet (NASDAQ:RDNT) last released its quarterly earnings data on Sunday, November 9th. The medical research company reported $0.20 EPS for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.03). The firm had revenue of $522.87 million for the quarter, compared to analyst estimates of $494.19 million. RadNet had a positive return on equity of 2.41% and a negative net margin of 0.78%.The company’s quarterly revenue was up 13.4% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.18 earnings per share. Analysts expect that RadNet, Inc. will post 0.56 EPS for the current year.

Insider Buying and Selling at RadNet

In other news, CAO Mital Patel sold 15,080 shares of the firm’s stock in a transaction on Wednesday, November 19th. The shares were sold at an average price of $80.05, for a total value of $1,207,154.00. Following the transaction, the chief accounting officer owned 180,138 shares of the company’s stock, valued at approximately $14,420,046.90. This trade represents a 7.72% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Cornelis Wesdorp sold 500 shares of RadNet stock in a transaction on Thursday, September 11th. The shares were sold at an average price of $72.13, for a total transaction of $36,065.00. Following the transaction, the chief executive officer owned 53,495 shares in the company, valued at $3,858,594.35. The trade was a 0.93% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 101,000 shares of company stock worth $7,643,364 over the last three months. 5.60% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the stock. Morgan Stanley raised shares of RadNet to an “overweight” rating in a research note on Monday, August 11th. Raymond James Financial restated a “strong-buy” rating and set a $95.00 target price on shares of RadNet in a research report on Friday, November 14th. Truist Financial lifted their target price on shares of RadNet from $81.00 to $90.00 and gave the stock a “buy” rating in a research note on Wednesday, November 12th. Zacks Research downgraded RadNet from a “strong-buy” rating to a “hold” rating in a report on Wednesday, November 12th. Finally, Barclays raised their price objective on RadNet from $79.00 to $86.00 and gave the stock an “overweight” rating in a report on Thursday, November 13th. Two research analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, RadNet currently has a consensus rating of “Moderate Buy” and an average price target of $84.00.

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.