Inspire Investing LLC Sells 1,399 Shares of RadNet, Inc. (NASDAQ:RDNT)

Inspire Investing LLC lowered its position in shares of RadNet, Inc. (NASDAQ:RDNT) by 19.0% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 5,977 shares of the medical research company’s stock after selling 1,399 shares during the period. Inspire Investing LLC’s holdings in RadNet were worth $352,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently made changes to their positions in the company. Vanguard Group Inc. increased its stake in shares of RadNet by 0.8% during the fourth quarter. Vanguard Group Inc. now owns 4,254,717 shares of the medical research company’s stock worth $147,937,000 after purchasing an additional 32,483 shares during the period. RTW Investments LP bought a new position in shares of RadNet during the fourth quarter worth approximately $23,073,000. UniSuper Management Pty Ltd bought a new position in shares of RadNet during the first quarter worth approximately $683,000. Janus Henderson Group PLC grew its position in RadNet by 108.6% during the first quarter. Janus Henderson Group PLC now owns 64,029 shares of the medical research company’s stock worth $3,112,000 after buying an additional 33,335 shares in the last quarter. Finally, Russell Investments Group Ltd. grew its position in RadNet by 103.4% during the first quarter. Russell Investments Group Ltd. now owns 249,898 shares of the medical research company’s stock worth $12,160,000 after buying an additional 127,039 shares in the last quarter. Institutional investors own 77.90% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on RDNT shares. Jefferies Financial Group increased their price target on RadNet from $75.00 to $80.00 and gave the stock a “buy” rating in a research report on Thursday. Barclays raised RadNet from an “equal weight” rating to an “overweight” rating and increased their price target for the stock from $57.00 to $79.00 in a research report on Friday, September 6th. Finally, Truist Financial increased their price target on RadNet from $63.00 to $70.00 and gave the stock a “buy” rating in a research report on Monday, July 15th. One analyst has rated the stock with a sell rating and four have given a buy rating to the company. According to MarketBeat.com, RadNet has a consensus rating of “Moderate Buy” and an average price target of $72.25.

RadNet Trading Down 0.4 %

Shares of RDNT stock opened at $69.34 on Monday. The stock’s fifty day moving average price is $63.03 and its two-hundred day moving average price is $56.85. The company has a market cap of $5.12 billion, a PE ratio of 231.13 and a beta of 1.74. RadNet, Inc. has a fifty-two week low of $25.11 and a fifty-two week high of $70.37. The company has a debt-to-equity ratio of 0.92, a quick ratio of 2.12 and a current ratio of 2.12.

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

Insider Activity at RadNet

In related news, EVP Michael N. Murdock sold 15,000 shares of the firm’s stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $62.78, for a total transaction of $941,700.00. Following the sale, the executive vice president now owns 48,144 shares of the company’s stock, valued at approximately $3,022,480.32. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 5.12% of the stock is currently owned by company insiders.

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.