Vontobel Holding Ltd. Cuts Stock Holdings in RadNet, Inc. (NASDAQ:RDNT)

Vontobel Holding Ltd. lowered its position in RadNet, Inc. (NASDAQ:RDNT) by 3.5% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 16,406 shares of the medical research company’s stock after selling 590 shares during the period. Vontobel Holding Ltd.’s holdings in RadNet were worth $1,138,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. AQR Capital Management LLC lifted its holdings in RadNet by 3.2% during the second quarter. AQR Capital Management LLC now owns 5,131 shares of the medical research company’s stock worth $302,000 after acquiring an additional 160 shares during the period. SG Americas Securities LLC grew its position in RadNet by 8.7% during the first quarter. SG Americas Securities LLC now owns 3,637 shares of the medical research company’s stock valued at $177,000 after buying an additional 291 shares during the period. Hanseatic Management Services Inc. increased its holdings in RadNet by 1.8% during the second quarter. Hanseatic Management Services Inc. now owns 19,968 shares of the medical research company’s stock worth $1,177,000 after buying an additional 353 shares during the last quarter. GAMMA Investing LLC increased its holdings in RadNet by 74.7% during the second quarter. GAMMA Investing LLC now owns 865 shares of the medical research company’s stock worth $51,000 after buying an additional 370 shares during the last quarter. Finally, Mutual of America Capital Management LLC raised its position in RadNet by 6.2% in the first quarter. Mutual of America Capital Management LLC now owns 11,232 shares of the medical research company’s stock worth $547,000 after acquiring an additional 656 shares during the period. 77.90% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on RDNT shares. Truist Financial raised their price target on shares of RadNet from $70.00 to $80.00 and gave the stock a “buy” rating in a research note on Monday, September 23rd. Jefferies Financial Group boosted their target price on RadNet from $75.00 to $80.00 and gave the company a “buy” rating in a research note on Thursday, September 19th. Sidoti raised RadNet to a “strong-buy” rating in a research report on Friday, October 4th. Finally, Barclays raised RadNet from an “equal weight” rating to an “overweight” rating and lifted their price objective for the stock from $57.00 to $79.00 in a report on Friday, September 6th. One investment analyst has rated the stock with a sell rating, four have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, RadNet currently has an average rating of “Moderate Buy” and an average price target of $74.75.

Insider Buying and Selling

In other RadNet news, EVP Michael N. Murdock sold 15,000 shares of the firm’s stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $62.78, for a total value 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. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 5.12% of the stock is currently owned by insiders.

RadNet Price Performance

Shares of NASDAQ RDNT opened at $68.16 on Monday. 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, Inc. has a fifty-two week low of $25.11 and a fifty-two week high of $72.18. The stock has a market cap of $5.04 billion, a PE ratio of 227.20 and a beta of 1.74. The stock has a fifty day moving average of $66.20 and a 200-day moving average of $59.93.

RadNet (NASDAQ:RDNT) last posted 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 company had revenue of $459.70 million for the quarter, compared to analysts’ expectations of $438.53 million. During the same period in the previous year, the firm earned $0.24 EPS. The firm’s quarterly revenue was up 13.9% compared to the same quarter last year. Equities research analysts anticipate that RadNet, Inc. will post 0.6 earnings per share for the current 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.