Dimensional Fund Advisors LP Decreases Stock Holdings in RadNet, Inc. (NASDAQ:RDNT)

Dimensional Fund Advisors LP lessened its stake in RadNet, Inc. (NASDAQ:RDNT) by 3.3% in the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 1,754,489 shares of the medical research company’s stock after selling 59,743 shares during the quarter. Dimensional Fund Advisors LP owned approximately 2.37% of RadNet worth $103,375,000 at the end of the most recent reporting period.

A number of other large investors also recently added to or reduced their stakes in the stock. Nisa Investment Advisors LLC lifted its position in shares of RadNet by 774.2% in the second quarter. Nisa Investment Advisors LLC now owns 848 shares of the medical research company’s stock valued at $50,000 after acquiring an additional 751 shares in the last quarter. GAMMA Investing LLC lifted its holdings in RadNet by 74.7% in the 2nd quarter. GAMMA Investing LLC now owns 865 shares of the medical research company’s stock valued at $51,000 after purchasing an additional 370 shares in the last quarter. Assetmark Inc. lifted its holdings in RadNet by 35.2% in the 4th quarter. Assetmark Inc. now owns 3,183 shares of the medical research company’s stock valued at $111,000 after purchasing an additional 829 shares in the last quarter. SG Americas Securities LLC boosted its stake in RadNet by 8.7% during the 1st quarter. SG Americas Securities LLC now owns 3,637 shares of the medical research company’s stock worth $177,000 after purchasing an additional 291 shares during the last quarter. Finally, MQS Management LLC purchased a new stake in shares of RadNet during the first quarter worth $207,000. 77.90% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, EVP Michael N. Murdock sold 15,000 shares of the stock in a transaction that occurred on Wednesday, August 21st. The shares were 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 owns 48,144 shares of the company’s stock, valued at approximately $3,022,480.32. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 5.12% of the company’s stock.

RadNet Stock Down 1.8 %

Shares of NASDAQ RDNT opened at $69.83 on Wednesday. The company has a market capitalization of $5.16 billion, a P/E ratio of 232.77 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. The company has a 50 day simple moving average of $63.30 and a 200-day simple moving average of $57.17. RadNet, Inc. has a 1 year low of $25.11 and a 1 year high of $71.80.

RadNet (NASDAQ:RDNT) last issued its quarterly earnings data on Wednesday, August 7th. The medical research company reported $0.16 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $438.53 million. During the same period in the previous year, the business posted $0.24 earnings per share. The firm’s revenue for the quarter was up 13.9% compared to the same quarter last year. On average, equities research analysts predict that RadNet, Inc. will post 0.58 earnings per share for the current year.

Analysts Set New Price Targets

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

RadNet 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.