RadNet, Inc. (NASDAQ:RDNT) Shares Acquired by Sanctuary Advisors LLC

Sanctuary Advisors LLC lifted its position in RadNet, Inc. (NASDAQ:RDNT) by 10.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 3,352 shares of the medical research company’s stock after purchasing an additional 316 shares during the quarter. Sanctuary Advisors LLC’s holdings in RadNet were worth $228,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the company. USA Financial Formulas acquired a new stake in RadNet during the 4th quarter worth approximately $30,000. Covestor Ltd grew its position in RadNet by 10,875.0% in the 3rd quarter. Covestor Ltd now owns 439 shares of the medical research company’s stock valued at $30,000 after buying an additional 435 shares during the last quarter. Fifth Third Bancorp increased its stake in RadNet by 84.3% in the 4th quarter. Fifth Third Bancorp now owns 667 shares of the medical research company’s stock valued at $47,000 after buying an additional 305 shares during the period. Peterson Financial Group Inc. purchased a new position in RadNet during the 3rd quarter worth $90,000. Finally, KBC Group NV raised its position in RadNet by 47.6% during the 4th quarter. KBC Group NV now owns 2,678 shares of the medical research company’s stock worth $187,000 after buying an additional 864 shares during the last quarter. Hedge funds and other institutional investors own 77.90% of the company’s stock.

RadNet Price Performance

Shares of RDNT stock opened at $53.09 on Thursday. The firm has a fifty day simple moving average of $64.15 and a 200-day simple moving average of $68.80. The company has a market capitalization of $3.93 billion, a PE ratio of -758.32 and a beta of 1.79. RadNet, Inc. has a twelve month low of $42.45 and a twelve month high of $93.65. The company has a current ratio of 2.16, a quick ratio of 2.16 and a debt-to-equity ratio of 0.89.

RadNet (NASDAQ:RDNT) last issued its quarterly earnings results on Thursday, February 27th. The medical research company reported $0.22 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.21 by $0.01. RadNet had a negative net margin of 0.25% and a positive return on equity of 4.29%. The business had revenue of $477.10 million during the quarter, compared to analyst estimates of $459.42 million. Equities research analysts anticipate that RadNet, Inc. will post 0.56 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the stock. Jefferies Financial Group cut their price target on shares of RadNet from $100.00 to $80.00 and set a “buy” rating for the company in a report on Wednesday, January 15th. Barclays reduced their price target on RadNet from $85.00 to $74.00 and set an “overweight” rating for the company in a report on Wednesday, January 22nd. Raymond James upgraded RadNet from an “outperform” rating to a “strong-buy” rating and cut their price objective for the stock from $85.00 to $65.00 in a research report on Wednesday. Finally, Truist Financial reaffirmed a “buy” rating and set a $88.00 price target (down from $94.00) on shares of RadNet in a research note on Wednesday, January 22nd. One research analyst has rated the stock with a sell rating, three have given a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus target price of $76.75.

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.