WINTON GROUP Ltd Takes $353,000 Position in RadNet, Inc. (NASDAQ:RDNT)

WINTON GROUP Ltd purchased a new stake in shares of RadNet, Inc. (NASDAQ:RDNT) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 5,996 shares of the medical research company’s stock, valued at approximately $353,000.

Several other large investors have also made changes to their positions in the company. Envestnet Asset Management Inc. lifted its stake in shares of RadNet by 3.9% during the second quarter. Envestnet Asset Management Inc. now owns 93,391 shares of the medical research company’s stock valued at $5,503,000 after acquiring an additional 3,521 shares during the period. AGF Management Ltd. bought a new stake in RadNet in the second quarter valued at about $8,793,000. Steigerwald Gordon & Koch Inc. increased its holdings in RadNet by 153.9% in the second quarter. Steigerwald Gordon & Koch Inc. now owns 15,470 shares of the medical research company’s stock valued at $911,000 after purchasing an additional 9,376 shares during the last quarter. Choreo LLC bought a new stake in RadNet in the second quarter valued at about $618,000. Finally, Arizona State Retirement System increased its holdings in RadNet by 10.6% in the second quarter. Arizona State Retirement System now owns 17,539 shares of the medical research company’s stock valued at $1,033,000 after purchasing an additional 1,679 shares during the last quarter. Institutional investors and hedge funds own 77.90% of the company’s stock.

RadNet Stock Up 0.4 %

Shares of RadNet stock opened at $67.11 on Thursday. RadNet, Inc. has a 1 year low of $25.11 and a 1 year high of $69.60. The business has a 50-day moving average of $62.68 and a two-hundred day moving average of $56.48. The company has a market capitalization of $4.96 billion, a P/E ratio of 223.70 and a beta of 1.74. The company has a debt-to-equity ratio of 0.92, a current ratio of 2.12 and a quick ratio of 2.12.

RadNet (NASDAQ:RDNT) last announced its quarterly earnings results on Wednesday, August 7th. The medical research company reported $0.16 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.17 by ($0.01). RadNet had a return on equity of 4.30% and a net margin of 0.58%. The business had revenue of $459.70 million during the quarter, compared to the consensus estimate of $438.53 million. During the same quarter last year, the company earned $0.24 earnings per share. The firm’s revenue was up 13.9% compared to the same quarter last year. As a group, equities analysts predict that RadNet, Inc. will post 0.58 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research firms recently commented on RDNT. Jefferies Financial Group upped their price objective on RadNet from $61.00 to $75.00 and gave the company a “buy” rating in a report on Thursday, July 11th. Truist Financial upped their price objective on RadNet from $63.00 to $70.00 and gave the company a “buy” rating in a report on Monday, July 15th. Finally, Barclays upgraded RadNet from an “equal weight” rating to an “overweight” rating and upped their price objective for the company from $57.00 to $79.00 in a report on Friday, September 6th. One research analyst has rated the stock with a sell rating and four have given a buy rating to the company. According to MarketBeat.com, RadNet presently has an average rating of “Moderate Buy” and an average target price of $71.00.

Insiders Place Their Bets

In other news, EVP Michael N. Murdock sold 15,000 shares of the company’s stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $62.78, for a total transaction of $941,700.00. Following the completion of the transaction, the executive vice president now directly owns 48,144 shares of the company’s stock, valued at $3,022,480.32. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 5.12% of the company’s stock.

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.