RadNet, Inc. $RDNT Stock Bought by Keybank National Association OH

Keybank National Association OH raised its stake in shares of RadNet, Inc. (NASDAQ:RDNT) by 438.7% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 81,935 shares of the medical research company’s stock after acquiring an additional 66,726 shares during the quarter. Keybank National Association OH owned approximately 0.10% of RadNet worth $5,649,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Farther Finance Advisors LLC increased its position in shares of RadNet by 60.2% during the 3rd quarter. Farther Finance Advisors LLC now owns 596 shares of the medical research company’s stock worth $41,000 after purchasing an additional 224 shares in the last quarter. Parallel Advisors LLC boosted its position in RadNet by 80.0% in the first quarter. Parallel Advisors LLC now owns 1,114 shares of the medical research company’s stock valued at $62,000 after buying an additional 495 shares in the last quarter. GAMMA Investing LLC boosted its position in RadNet by 10.6% in the third quarter. GAMMA Investing LLC now owns 2,321 shares of the medical research company’s stock valued at $160,000 after buying an additional 222 shares in the last quarter. Nykredit A S acquired a new position in RadNet in the second quarter valued at about $153,000. Finally, Modera Wealth Management LLC bought a new stake in RadNet during the third quarter worth about $207,000. Institutional investors and hedge funds own 77.90% of the company’s stock.

RadNet Trading Down 2.6%

Shares of NASDAQ RDNT opened at $76.04 on Friday. RadNet, Inc. has a 1-year low of $50.82 and a 1-year high of $85.84. The company has a market cap of $5.99 billion, a PE ratio of 144.59 and a beta of 1.42. The company has a current ratio of 1.49, a quick ratio of 1.48 and a debt-to-equity ratio of 0.90. The company has a 50-day moving average of $72.74 and a two-hundred day moving average of $65.49.

RadNet (NASDAQ:RDNT) last released its quarterly earnings results on Sunday, November 8th. The medical research company reported $0.30 EPS for the quarter, beating the consensus estimate of $0.22 by $0.08. The business had revenue of $638.26 million for the quarter, compared to analysts’ expectations of $639.97 million. RadNet had a negative net margin of 0.94% and a positive return on equity of 3.14%. RadNet’s revenue was up 22.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.20 earnings per share. As a group, equities analysts expect that RadNet, Inc. will post 0.53 earnings per share for the current fiscal year.

Insider Transactions at RadNet

In other RadNet news, EVP Mital Patel sold 44,661 shares of the stock in a transaction on Wednesday, November 11th. The stock was sold at an average price of $78.51, for a total value of $3,506,335.11. Following the transaction, the executive vice president directly owned 155,514 shares in the company, valued at approximately $12,209,404.14. This trade represents a 22.31% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 5.14% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently weighed in on RDNT shares. Truist Financial raised their price objective on shares of RadNet from $90.00 to $94.00 and gave the stock a “buy” rating in a report on Tuesday, August 11th. Barclays lifted their target price on shares of RadNet from $65.00 to $79.00 and gave the company an “overweight” rating in a research note on Friday, August 28th. Jefferies Financial Group reissued a “buy” rating on shares of RadNet in a report on Friday, July 31st. Raymond James Financial restated a “strong-buy” rating on shares of RadNet in a research report on Tuesday, September 22nd. Finally, Zacks Research lowered RadNet from a “strong-buy” rating to a “hold” rating in a research report on Monday. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, RadNet currently has a consensus rating of “Moderate Buy” and a consensus target price of $90.43.

RadNet Company Profile

RadNet, Inc. operates outpatient diagnostic imaging centers in the United States. Its centers provide services including magnetic resonance imaging (MRI), computed tomography (CT), positron emission tomography (PET), mammography, ultrasound, X-ray and nuclear medicine imaging. The company serves patients, physicians and healthcare organizations, with operations across several states, including California, Delaware, Florida, Maryland, New Jersey and New York. Its imaging centers offer diagnostic services for a range of medical needs, from routine screening to specialized examinations.