Hanseatic Management Services Inc. Buys 883 Shares of RadNet, Inc. (NASDAQ:RDNT)

Hanseatic Management Services Inc. raised its position in shares of RadNet, Inc. (NASDAQ:RDNT) by 4.4% in the third quarter, according to its most recent filing with the SEC. The firm owned 20,851 shares of the medical research company’s stock after purchasing an additional 883 shares during the quarter. RadNet makes up approximately 2.1% of Hanseatic Management Services Inc.’s investment portfolio, making the stock its 14th largest holding. Hanseatic Management Services Inc.’s holdings in RadNet were worth $1,447,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in RDNT. Nisa Investment Advisors LLC lifted its stake in RadNet by 774.2% in the second quarter. Nisa Investment Advisors LLC now owns 848 shares of the medical research company’s stock valued at $50,000 after buying an additional 751 shares during the period. GAMMA Investing LLC boosted its stake in RadNet by 74.7% during the second quarter. GAMMA Investing LLC now owns 865 shares of the medical research company’s stock worth $51,000 after acquiring an additional 370 shares in the last quarter. Highline Wealth Partners LLC acquired a new stake in RadNet in the third quarter worth $68,000. SG Americas Securities LLC increased its stake in RadNet by 8.7% in the first quarter. SG Americas Securities LLC now owns 3,637 shares of the medical research company’s stock valued at $177,000 after purchasing an additional 291 shares in the last quarter. Finally, MQS Management LLC acquired a new position in shares of RadNet during the first quarter valued at about $207,000. Institutional investors own 77.90% of the company’s stock.

Insider Activity at RadNet

In other news, EVP Michael N. Murdock sold 15,000 shares of the firm’s stock in a transaction that occurred 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 sale, the executive vice president now owns 48,144 shares in the company, valued at $3,022,480.32. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 5.12% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

RDNT has been the subject of a number of research analyst reports. Sidoti raised RadNet to a “strong-buy” rating in a research report on Friday, October 4th. Barclays raised RadNet from an “equal weight” rating to an “overweight” rating and upped their target price for the stock from $57.00 to $79.00 in a research report on Friday, September 6th. Jefferies Financial Group lifted their price target on shares of RadNet from $75.00 to $80.00 and gave the company a “buy” rating in a research report on Thursday, September 19th. Finally, Truist Financial upped their price objective on shares of RadNet from $70.00 to $80.00 and gave the stock a “buy” rating in a report on Monday, September 23rd. One analyst has rated the stock with a sell rating, four have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, RadNet has an average rating of “Moderate Buy” and a consensus price target of $74.75.

RadNet Trading Up 2.6 %

NASDAQ:RDNT opened at $69.85 on Thursday. The firm has a market cap of $5.17 billion, a price-to-earnings ratio of 498.93 and a beta of 1.75. The company has a debt-to-equity ratio of 0.92, a quick ratio of 2.12 and a current ratio of 2.12. The firm has a 50-day moving average price of $67.10 and a two-hundred day moving average price of $61.57. RadNet, Inc. has a 52 week low of $28.27 and a 52 week high of $72.18.

RadNet (NASDAQ:RDNT) last posted its quarterly earnings data on Wednesday, August 7th. The medical research company reported $0.16 earnings per share for the quarter, missing the consensus estimate of $0.17 by ($0.01). The business had revenue of $459.70 million during 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 revenue for the quarter was up 13.9% on a year-over-year basis. During the same period in the prior year, the firm posted $0.24 EPS. On average, equities analysts expect that RadNet, Inc. will post 0.59 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.