Public Sector Pension Investment Board Boosts Holdings in RadNet, Inc. (NASDAQ:RDNT)

Public Sector Pension Investment Board boosted its position in shares of RadNet, Inc. (NASDAQ:RDNT) by 9.3% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 146,329 shares of the medical research company’s stock after buying an additional 12,467 shares during the quarter. Public Sector Pension Investment Board owned 0.20% of RadNet worth $8,622,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently bought and sold shares of RDNT. Dimensional Fund Advisors LP boosted its stake in RadNet by 4.3% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,744,124 shares of the medical research company’s stock worth $60,646,000 after buying an additional 71,714 shares during the period. Dynamic Technology Lab Private Ltd purchased a new position in RadNet during the fourth quarter worth $287,000. Assetmark Inc. boosted its stake in RadNet by 35.2% during the fourth quarter. Assetmark Inc. now owns 3,183 shares of the medical research company’s stock worth $111,000 after buying an additional 829 shares during the period. Hsbc Holdings PLC boosted its stake in RadNet by 13.8% during the fourth quarter. Hsbc Holdings PLC now owns 242,160 shares of the medical research company’s stock worth $8,487,000 after buying an additional 29,372 shares during the period. Finally, Capstone Investment Advisors LLC purchased a new position in RadNet during the fourth quarter worth $264,000. 77.90% of the stock is owned by hedge funds and other institutional investors.

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 shares were sold at an average price of $62.78, for a total transaction of $941,700.00. Following the transaction, the executive vice president now owns 48,144 shares in the company, valued at $3,022,480.32. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. 5.12% of the stock is currently owned by corporate insiders.

RadNet Stock Performance

Shares of RadNet stock opened at $71.10 on Tuesday. The company has a market capitalization of $5.25 billion, a PE ratio of 237.00 and a beta of 1.74. The company has a debt-to-equity ratio of 0.92, a quick ratio of 2.12 and a current ratio of 2.12. The company has a 50-day simple moving average of $63.20 and a two-hundred day simple moving average of $57.01. RadNet, Inc. has a one year low of $25.11 and a one year high of $71.80.

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

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on RDNT shares. Truist Financial boosted their target price on shares of RadNet from $70.00 to $80.00 and gave the company a “buy” rating in a research note on Monday. Jefferies Financial Group boosted their target price on shares of RadNet from $75.00 to $80.00 and gave the company a “buy” rating in a research note on Thursday, September 19th. Finally, Barclays raised shares of RadNet from an “equal weight” rating to an “overweight” rating and boosted their target price for the company from $57.00 to $79.00 in a research note on Friday, September 6th. One analyst has rated the stock with a sell rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $74.75.

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.