Emerald Mutual Fund Advisers Trust Lowers Stock Holdings in RadNet, Inc. $RDNT

Emerald Mutual Fund Advisers Trust reduced its position in shares of RadNet, Inc. (NASDAQ:RDNT) by 1.7% in the 2nd quarter, HoldingsChannel reports. The institutional investor owned 423,546 shares of the medical research company’s stock after selling 7,467 shares during the period. RadNet makes up about 1.5% of Emerald Mutual Fund Advisers Trust’s portfolio, making the stock its 17th biggest holding. Emerald Mutual Fund Advisers Trust’s holdings in RadNet were worth $24,104,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. GAMMA Investing LLC boosted its position in shares of RadNet by 22.3% during the first quarter. GAMMA Investing LLC now owns 1,644 shares of the medical research company’s stock worth $82,000 after buying an additional 300 shares during the period. Wealth Enhancement Advisory Services LLC boosted its position in shares of RadNet by 28.6% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 6,945 shares of the medical research company’s stock worth $345,000 after buying an additional 1,545 shares during the period. Envestnet Asset Management Inc. boosted its position in shares of RadNet by 50.3% during the first quarter. Envestnet Asset Management Inc. now owns 137,870 shares of the medical research company’s stock worth $6,855,000 after buying an additional 46,169 shares during the period. Praxis Investment Management Inc. purchased a new position in shares of RadNet during the second quarter worth $225,000. Finally, Fulton Bank N.A. purchased a new position in RadNet in the second quarter valued at $389,000. 77.90% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other RadNet news, EVP Mark Stolper sold 35,000 shares of the firm’s stock in a transaction on Tuesday, September 16th. The stock was sold at an average price of $73.89, for a total value of $2,586,150.00. Following the sale, the executive vice president directly owned 68,012 shares in the company, valued at $5,025,406.68. This trade represents a 33.98% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Ranjan Jayanathan sold 65,598 shares of the firm’s stock in a transaction on Tuesday, August 19th. The shares were sold at an average price of $67.50, for a total value of $4,427,865.00. Following the completion of the sale, the insider 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. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 135,098 shares of company stock valued at $9,430,715 over the last 90 days. 5.60% of the stock is currently owned by corporate insiders.

RadNet Stock Down 0.3%

RadNet stock opened at $78.84 on Thursday. RadNet, Inc. has a 1-year low of $45.00 and a 1-year high of $93.65. The company has a debt-to-equity ratio of 0.91, a current ratio of 2.00 and a quick ratio of 2.00. The stock has a market cap of $6.06 billion, a PE ratio of -394.18 and a beta of 1.59. The stock’s fifty day moving average is $75.08 and its two-hundred day moving average is $63.11.

RadNet (NASDAQ:RDNT) last posted its quarterly earnings results on Sunday, August 10th. The medical research company reported $0.31 earnings per share for the quarter, beating analysts’ consensus estimates 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 company had revenue of $498.23 million for the quarter, compared to analysts’ expectations of $488.06 million. During the same period last year, the firm earned $0.16 earnings per share. RadNet’s quarterly revenue was up 8.4% on a year-over-year basis. On average, sell-side analysts expect that RadNet, Inc. will post 0.56 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the company. Raymond James Financial reiterated a “strong-buy” rating and issued a $75.00 target price (up from $66.00) on shares of RadNet in a report on Wednesday, August 13th. Weiss Ratings reiterated a “sell (d)” rating on shares of RadNet in a report on Wednesday, October 8th. Barclays lifted 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. Wall Street Zen upgraded RadNet from a “sell” rating to a “hold” rating in a report on Saturday, August 16th. Finally, Morgan Stanley upgraded RadNet to an “overweight” rating in a report on Monday, August 11th. Three equities research analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Buy” and a consensus target price of $76.80.

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.