Whittier Trust Co. Increases Stock Holdings in RadNet, Inc. $RDNT

Whittier Trust Co. increased its holdings in RadNet, Inc. (NASDAQ:RDNT) by 1.8% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 214,945 shares of the medical research company’s stock after acquiring an additional 3,862 shares during the quarter. Whittier Trust Co. owned about 0.29% of RadNet worth $12,230,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Headlands Technologies LLC bought a new position in RadNet in the first quarter worth $28,000. GAMMA Investing LLC raised 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 worth $82,000 after purchasing an additional 300 shares in the last quarter. Jones Financial Companies Lllp raised 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 worth $85,000 after purchasing an additional 1,448 shares in the last quarter. Family Legacy Financial Solutions LLC bought a new position in RadNet in the second quarter worth $85,000. Finally, Strs Ohio bought a new position in RadNet in the first quarter worth $139,000. Hedge funds and other institutional investors own 77.90% of the company’s stock.

Insider Buying and Selling

In related news, EVP Mark Stolper sold 35,000 shares of RadNet stock in a transaction dated 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 completion of the sale, the executive vice president directly owned 68,012 shares in the company, valued at approximately $5,025,406.68. This trade represents a 33.98% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP David Jeffrey Katz sold 17,000 shares of RadNet 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 completion of the sale, the executive vice president owned 86,774 shares of the company’s stock, valued at $5,927,531.94. The trade was a 16.38% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 135,098 shares of company stock worth $9,430,715 in the last three months. 5.60% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

RDNT has been the subject of a number of research reports. Zacks Research upgraded RadNet from a “hold” rating to a “strong-buy” rating in a report on Tuesday, October 14th. Barclays increased their price objective on RadNet from $60.00 to $79.00 and gave the stock an “overweight” rating in a report on Wednesday, September 3rd. Weiss Ratings reiterated a “sell (d)” rating on shares of RadNet in a report on Wednesday, October 8th. Morgan Stanley upgraded RadNet to an “overweight” rating in a report on Monday, August 11th. Finally, Raymond James Financial reiterated a “strong-buy” rating and issued a $75.00 price objective (up previously from $66.00) on shares of RadNet in a report on Wednesday, August 13th. Three analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, RadNet presently has an average rating of “Buy” and an average price target of $76.80.

RadNet Price Performance

Shares of NASDAQ:RDNT opened at $80.16 on Wednesday. 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 business has a fifty day moving average price of $73.50 and a 200-day moving average price of $61.79. The company has a market capitalization of $6.17 billion, a PE ratio of -400.78 and a beta of 1.59.

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

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.