Emerald Advisers LLC Has $45.90 Million Stock Holdings in RadNet, Inc. (NASDAQ:RDNT)

Emerald Advisers LLC lessened its position in shares of RadNet, Inc. (NASDAQ:RDNT) by 1.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 657,189 shares of the medical research company’s stock after selling 12,061 shares during the quarter. RadNet comprises 1.8% of Emerald Advisers LLC’s holdings, making the stock its 8th biggest position. Emerald Advisers LLC owned 0.89% of RadNet worth $45,898,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of RDNT. Raymond James Financial Inc. bought a new position in shares of RadNet during the 4th quarter worth approximately $33,090,000. Portolan Capital Management LLC raised its stake in shares of RadNet by 384.8% during the 3rd quarter. Portolan Capital Management LLC now owns 491,358 shares of the medical research company’s stock worth $34,095,000 after acquiring an additional 390,011 shares in the last quarter. Allspring Global Investments Holdings LLC raised its stake in shares of RadNet by 30.4% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 1,475,995 shares of the medical research company’s stock worth $103,532,000 after acquiring an additional 344,146 shares in the last quarter. Cerity Partners LLC raised its stake in shares of RadNet by 131.4% during the 3rd quarter. Cerity Partners LLC now owns 387,536 shares of the medical research company’s stock worth $26,891,000 after acquiring an additional 220,068 shares in the last quarter. Finally, JB Capital Partners LP raised its stake in shares of RadNet by 15.9% during the 3rd quarter. JB Capital Partners LP now owns 1,504,061 shares of the medical research company’s stock worth $104,367,000 after acquiring an additional 206,850 shares in the last quarter. Institutional investors own 77.90% of the company’s stock.

RadNet Stock Down 0.9 %

RDNT stock opened at $49.25 on Friday. The firm’s fifty day simple moving average is $58.78 and its 200-day simple moving average is $67.49. The company has a market capitalization of $3.65 billion, a P/E ratio of -703.47 and a beta of 1.85. The company has a debt-to-equity ratio of 0.89, a current ratio of 2.16 and a quick ratio of 2.16. RadNet, Inc. has a 12 month low of $45.82 and a 12 month high of $93.65.

RadNet (NASDAQ:RDNT) last released its quarterly earnings data on Thursday, February 27th. The medical research company reported $0.22 EPS for the quarter, beating the consensus estimate of $0.21 by $0.01. RadNet had a negative net margin of 0.25% and a positive return on equity of 4.29%. The business had revenue of $477.10 million for the quarter, compared to the consensus estimate of $459.42 million. As a group, equities research analysts forecast that RadNet, Inc. will post 0.56 earnings per share for the current year.

Analyst Ratings Changes

A number of research analysts have issued reports on the stock. Barclays cut their price target on shares of RadNet from $85.00 to $74.00 and set an “overweight” rating on the stock in a research note on Wednesday, January 22nd. Jefferies Financial Group cut their price target on shares of RadNet from $100.00 to $80.00 and set a “buy” rating on the stock in a research note on Wednesday, January 15th. Truist Financial restated a “buy” rating and set a $88.00 price target (down previously from $94.00) on shares of RadNet in a research note on Wednesday, January 22nd. Raymond James upgraded shares of RadNet from an “outperform” rating to a “strong-buy” rating and cut their price target for the company from $85.00 to $65.00 in a research note on Wednesday, March 5th. Finally, StockNews.com upgraded shares of RadNet to a “sell” rating in a research note on Wednesday. One analyst has rated the stock with a sell rating, three have issued a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus target price of $76.75.

Insider Buying and Selling

In related news, COO Norman R. Hames sold 5,000 shares of the stock in a transaction on Wednesday, March 19th. The shares were sold at an average price of $50.22, for a total transaction of $251,100.00. Following the sale, the chief operating officer now directly owns 251,959 shares of the company’s stock, valued at approximately $12,653,380.98. This represents a 1.95 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Cornelis Wesdorp sold 1,000 shares of the stock in a transaction on Friday, March 7th. The stock was sold at an average price of $50.52, for a total transaction of $50,520.00. Following the sale, the chief executive officer now directly owns 55,995 shares in the company, valued at $2,828,867.40. This trade represents a 1.75 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 38,000 shares of company stock valued at $1,926,730. Corporate insiders own 5.12% of the company’s stock.

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.