Bleakley Financial Group LLC Takes $750,000 Position in RadNet, Inc. (NASDAQ:RDNT)

Bleakley Financial Group LLC purchased a new stake in shares of RadNet, Inc. (NASDAQ:RDNT) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 10,810 shares of the medical research company’s stock, valued at approximately $750,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Vanguard Group Inc. lifted its holdings in RadNet by 0.8% in 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. UniSuper Management Pty Ltd acquired a new stake in RadNet in the first quarter worth about $683,000. Janus Henderson Group PLC lifted its holdings in RadNet by 108.6% in the first quarter. Janus Henderson Group PLC now owns 64,029 shares of the medical research company’s stock worth $3,112,000 after purchasing an additional 33,335 shares during the period. Russell Investments Group Ltd. lifted its holdings in RadNet by 103.4% in the first quarter. Russell Investments Group Ltd. now owns 249,898 shares of the medical research company’s stock worth $12,160,000 after purchasing an additional 127,039 shares during the period. Finally, Sei Investments Co. lifted its holdings in RadNet by 18.8% in the first quarter. Sei Investments Co. now owns 65,899 shares of the medical research company’s stock worth $3,207,000 after purchasing an additional 10,430 shares during the period. Institutional investors and hedge funds own 77.90% of the company’s stock.

Analysts Set New Price Targets

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

Insiders Place Their Bets

In other RadNet news, EVP Michael N. Murdock sold 15,000 shares of the business’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 sale, the executive vice president now owns 48,144 shares in the company, valued at approximately $3,022,480.32. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 5.12% of the company’s stock.

RadNet Price Performance

Shares of NASDAQ RDNT opened at $66.97 on Tuesday. RadNet, Inc. has a twelve month low of $25.11 and a twelve month high of $72.18. The company has a current ratio of 2.12, a quick ratio of 2.12 and a debt-to-equity ratio of 0.92. The company has a market capitalization of $4.95 billion, a price-to-earnings ratio of 223.23 and a beta of 1.74. The firm has a 50-day moving average of $66.30 and a two-hundred day moving average of $60.06.

RadNet (NASDAQ:RDNT) last posted its quarterly earnings data 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). The company had revenue of $459.70 million for the quarter, compared to analyst estimates of $438.53 million. RadNet had a return on equity of 4.30% and a net margin of 0.58%. RadNet’s quarterly revenue was up 13.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.24 EPS. As a group, analysts expect that RadNet, Inc. will post 0.6 earnings per share for the current fiscal year.

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.