RadNet, Inc. (NASDAQ:RDNT) Shares Acquired by Raymond James & Associates

Raymond James & Associates increased its holdings in RadNet, Inc. (NASDAQ:RDNT) by 22.1% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 107,399 shares of the medical research company’s stock after buying an additional 19,415 shares during the quarter. Raymond James & Associates owned about 0.15% of RadNet worth $7,452,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in RDNT. Nisa Investment Advisors LLC raised its position in shares of RadNet by 774.2% during the 2nd quarter. Nisa Investment Advisors LLC now owns 848 shares of the medical research company’s stock worth $50,000 after buying an additional 751 shares in the last quarter. GAMMA Investing LLC raised 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 purchasing an additional 370 shares in the last quarter. SG Americas Securities LLC lifted its position in RadNet by 8.7% in the first 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 period. MQS Management LLC bought a new position in RadNet during the 1st quarter valued at $207,000. Finally, Profund Advisors LLC acquired a new position in shares of RadNet during the 2nd quarter valued at $207,000. 77.90% of the stock is currently owned by institutional investors and hedge funds.

RadNet Price Performance

RDNT stock opened at $66.76 on Thursday. The firm has a 50-day moving average of $66.76 and a two-hundred day moving average of $60.83. The firm has a market capitalization of $4.93 billion, a PE ratio of 222.53 and a beta of 1.74. The company has a current ratio of 2.12, a quick ratio of 2.12 and a debt-to-equity ratio of 0.92. RadNet, Inc. has a one year low of $26.14 and a one year high of $72.18.

RadNet (NASDAQ:RDNT) last issued its quarterly earnings results on Wednesday, August 7th. The medical research company reported $0.16 EPS for the quarter, missing the consensus estimate of $0.17 by ($0.01). RadNet had a net margin of 0.58% and a return on equity of 4.30%. The firm had revenue of $459.70 million during the quarter, compared to analysts’ expectations of $438.53 million. During the same quarter last year, the company posted $0.24 EPS. The firm’s revenue was up 13.9% compared to the same quarter last year. On average, analysts forecast that RadNet, Inc. will post 0.6 earnings per share for the current year.

Insider Activity

In other RadNet news, EVP Michael N. Murdock sold 15,000 shares of the company’s stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $62.78, for a total value of $941,700.00. Following the transaction, the executive vice president now directly owns 48,144 shares of the company’s stock, valued at $3,022,480.32. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 5.12% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

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