3,977 Shares in RadNet, Inc. $RDNT Bought by Mutual Advisors LLC

Mutual Advisors LLC acquired a new position in shares of RadNet, Inc. (NASDAQ:RDNT) during the second quarter, Holdings Channel.com reports. The institutional investor acquired 3,977 shares of the medical research company’s stock, valued at approximately $228,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Headlands Technologies LLC acquired a new position in RadNet during the first quarter worth $28,000. GAMMA Investing LLC grew its holdings in RadNet by 22.3% in the first quarter. GAMMA Investing LLC now owns 1,644 shares of the medical research company’s stock valued at $82,000 after purchasing an additional 300 shares during the last quarter. Jones Financial Companies Lllp grew its holdings in 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 purchasing an additional 1,448 shares during the last quarter. Family Legacy Financial Solutions LLC acquired a new stake in RadNet in the second quarter valued at $85,000. Finally, Strs Ohio acquired a new stake in RadNet in the first quarter valued at $139,000. Institutional investors and hedge funds own 77.90% of the company’s stock.

Analyst Ratings Changes

RDNT has been the topic of several research reports. Barclays upped their target price on RadNet from $60.00 to $79.00 and gave the company an “overweight” rating in a report on Wednesday, September 3rd. Zacks Research raised RadNet from a “hold” rating to a “strong-buy” rating in a report on Tuesday, October 14th. Truist Financial upped their target price on RadNet from $74.00 to $81.00 and gave the company a “buy” rating in a report on Wednesday, September 3rd. Morgan Stanley upgraded RadNet to an “overweight” rating in a research report on Monday, August 11th. Finally, Wall Street Zen upgraded RadNet from a “sell” rating to a “hold” rating in a research report on Saturday, August 16th. Three analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average target price of $76.80.

RadNet Stock Up 2.2%

Shares of NASDAQ:RDNT opened at $80.16 on Wednesday. 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, Inc. has a 52-week low of $45.00 and a 52-week high of $93.65. The stock’s fifty day simple moving average is $73.50 and its 200-day simple moving average is $61.79. The company has a market capitalization of $6.17 billion, a P/E ratio of -400.78 and a beta of 1.59.

RadNet (NASDAQ:RDNT) last released its earnings results on Sunday, August 10th. The medical research company reported $0.31 earnings per share for the quarter, topping the consensus estimate of $0.17 by $0.14. RadNet had a positive return on equity of 2.41% and a negative net margin of 0.78%.The firm had revenue of $498.23 million for the quarter, compared to the consensus estimate of $488.06 million. During the same period in the prior year, the business posted $0.16 earnings per share. The firm’s revenue for the quarter was up 8.4% compared to the same quarter last year. As a group, equities research analysts forecast that RadNet, Inc. will post 0.56 earnings per share for the current fiscal year.

Insider Activity

In related news, insider Ranjan Jayanathan sold 65,598 shares of the stock in a transaction dated Tuesday, August 19th. The stock was sold at an average price of $67.50, for a total transaction of $4,427,865.00. Following the transaction, the insider directly owned 138,198 shares in the company, valued at approximately $9,328,365. This represents a 32.19% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, EVP David Jeffrey Katz sold 17,000 shares of the stock in a transaction dated Wednesday, August 13th. The stock was sold at an average price of $68.31, for a total value of $1,161,270.00. Following the transaction, the executive vice president owned 86,774 shares in the company, valued at $5,927,531.94. This trade represents a 16.38% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 135,098 shares of company stock valued at $9,430,715 in the last three months. Company insiders own 5.60% of the company’s stock.

About RadNet

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.