55,110 RadNet, Inc. $RDNT Shares Sold by E. Ohman J or Asset Management AB

Key Points

• E. Ohman J or Asset Management AB cut its RadNet stake by 12.2% in the third quarter, selling 55,110 shares and retaining 397,856 shares, or about 0.51% of the company.
• Institutional ownership remains high at 77.9%, with several other hedge funds increasing their positions in RadNet during recent quarters.
• Analysts maintain a generally positive outlook, with the stock carrying a consensus “Buy” rating and a $90 price target. RadNet’s latest quarterly results exceeded estimates, with $0.29 EPS and $622.72 million in revenue, up 25% year over year.

E. Ohman J or Asset Management AB reduced its stake in RadNet, Inc. (NASDAQ:RDNT - Free Report) by 12.2% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 397,856 shares of the medical research company's stock after selling 55,110 shares during the quarter. E. Ohman J or Asset Management AB owned 0.51% of RadNet worth $27,428,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Farther Finance Advisors LLC raised its position in RadNet by 60.2% in the third quarter. Farther Finance Advisors LLC now owns 596 shares of the medical research company's stock valued at $41,000 after purchasing an additional 224 shares during the period. Parallel Advisors LLC boosted its position in shares of RadNet by 80.0% during the first quarter. Parallel Advisors LLC now owns 1,114 shares of the medical research company's stock worth $62,000 after buying an additional 495 shares during the period. Leonteq Securities AG boosted its position in shares of RadNet by 4,651.2% during the first quarter. Leonteq Securities AG now owns 2,043 shares of the medical research company's stock worth $114,000 after buying an additional 2,000 shares during the period. GAMMA Investing LLC grew its stake in shares of RadNet by 10.6% in the third quarter. GAMMA Investing LLC now owns 2,321 shares of the medical research company's stock valued at $160,000 after buying an additional 222 shares in the last quarter. Finally, Nykredit A S acquired a new stake in shares of RadNet in the second quarter valued at $153,000. Hedge funds and other institutional investors own 77.90% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the company. Jefferies Financial Group reissued a "buy" rating on shares of RadNet in a research note on Friday, July 31st. Barclays increased their price target on shares of RadNet from $65.00 to $79.00 and gave the stock an "overweight" rating in a research report on Friday, August 28th. Raymond James Financial reissued a "strong-buy" rating on shares of RadNet in a research note on Tuesday, September 22nd. Zacks Research upgraded shares of RadNet from a "hold" rating to a "strong-buy" rating in a report on Friday, October 9th. Finally, Truist Financial upped their target price on shares of RadNet from $90.00 to $94.00 and gave the stock a "buy" rating in a research note on Tuesday, August 11th. Three analysts have rated the stock with a Strong Buy rating, five have given a Buy rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Buy" and a consensus price target of $90.00.

RadNet Trading Up 2.7%

NASDAQ:RDNT opened at $70.26 on Friday. RadNet, Inc. has a 12-month low of $50.82 and a 12-month high of $85.84. The firm has a market cap of $5.53 billion, a PE ratio of 155.48 and a beta of 1.41. The company has a current ratio of 1.48, a quick ratio of 1.48 and a debt-to-equity ratio of 0.94. The stock has a fifty day moving average price of $72.92 and a 200 day moving average price of $64.33.

RadNet (NASDAQ:RDNT - Get Free Report) last issued its quarterly earnings results on Monday, August 10th. The medical research company reported $0.29 earnings per share for the quarter, topping the consensus estimate of $0.20 by $0.09. The company had revenue of $622.72 million for the quarter, compared to the consensus estimate of $610.87 million. RadNet had a positive return on equity of 2.61% and a negative net margin of 0.93%. RadNet's revenue was up 25.0% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.31 EPS. Sell-side analysts anticipate that RadNet, Inc. will post 0.49 earnings per share for the current fiscal year.

RadNet Company Profile

RadNet, Inc NASDAQ: RDNT is an outpatient diagnostic imaging company that operates imaging centers and provides related healthcare services. Its facilities offer diagnostic radiology and imaging procedures used to help detect, diagnose, and monitor medical conditions.

The company's services generally include magnetic resonance imaging (MRI), computed tomography (CT), positron emission tomography (PET), mammography, ultrasound, X-ray, and other imaging procedures. RadNet also provides image-guided and interventional radiology services in selected markets, along with digital imaging, radiology, and information-technology solutions.

Founded in 1981, RadNet serves patients, physicians, hospitals, and other healthcare organizations through a network of outpatient imaging centers primarily located in the United States, including markets in California, New York, New Jersey, Maryland, and Delaware.

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