Nuveen LLC Makes New Investment in RadNet, Inc. $RDNT

Nuveen LLC acquired a new position in RadNet, Inc. (NASDAQ:RDNT - Free Report) in the first quarter, according to the company in its most recent filing with the SEC. The firm acquired 551,537 shares of the medical research company's stock, valued at approximately $27,422,000. Nuveen LLC owned 0.74% of RadNet at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Headlands Technologies LLC bought a new stake in shares of RadNet in the 1st quarter worth approximately $28,000. GAMMA Investing LLC raised its holdings in shares of RadNet by 22.3% in the 1st quarter. GAMMA Investing LLC now owns 1,644 shares of the medical research company's stock worth $82,000 after buying an additional 300 shares in the last quarter. Tower Research Capital LLC TRC raised its holdings in shares of RadNet by 42.2% in the 4th quarter. Tower Research Capital LLC TRC now owns 1,422 shares of the medical research company's stock worth $99,000 after buying an additional 422 shares in the last quarter. Canada Pension Plan Investment Board acquired a new position in shares of RadNet in the 4th quarter worth approximately $105,000. Finally, US Bancorp DE raised its holdings in shares of RadNet by 4,620.8% in the 1st quarter. US Bancorp DE now owns 3,635 shares of the medical research company's stock worth $181,000 after buying an additional 3,558 shares in the last quarter. Institutional investors own 77.90% of the company's stock.

Insider Buying and Selling at RadNet

In other news, EVP Alma Gregory Sorensen sold 55,000 shares of RadNet stock in a transaction on Friday, May 23rd. The stock was sold at an average price of $56.48, for a total value of $3,106,400.00. Following the completion of the sale, the executive vice president directly owned 1,160,509 shares of the company's stock, valued at approximately $65,545,548.32. This trade represents a 4.52% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP David Jeffrey Katz sold 17,000 shares of RadNet stock in a transaction on Wednesday, August 13th. The shares were sold at an average price of $68.31, for a total value of $1,161,270.00. Following the completion of the sale, the executive vice president directly owned 86,774 shares of the company's stock, valued at $5,927,531.94. This trade represents a 16.38% decrease in their ownership of the stock. The disclosure for this sale can be found here. 5.60% of the stock is currently owned by company insiders.

RadNet Price Performance

RDNT stock traded up $0.4060 during midday trading on Thursday, reaching $69.0460. 439,056 shares of the company's stock traded hands, compared to its average volume of 828,451. The company has a 50-day simple moving average of $57.91 and a two-hundred day simple moving average of $55.97. RadNet, Inc. has a 1-year low of $45.00 and a 1-year high of $93.65. The company has a market cap of $5.31 billion, a price-to-earnings ratio of -345.41 and a beta of 1.43. The company has a quick ratio of 2.00, a current ratio of 2.00 and a debt-to-equity ratio of 0.91.

RadNet (NASDAQ:RDNT - Get Free Report) last released its earnings results on Sunday, August 10th. The medical research company reported $0.31 EPS for the quarter, beating the consensus estimate of $0.17 by $0.14. The company had revenue of $498.23 million during the quarter, compared to analysts' expectations of $488.06 million. RadNet had a positive return on equity of 2.41% and a negative net margin of 0.78%.The business's revenue for the quarter was up 8.4% on a year-over-year basis. During the same period last year, the firm earned $0.16 EPS. On average, analysts anticipate that RadNet, Inc. will post 0.56 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on RDNT. Wall Street Zen raised RadNet from a "sell" rating to a "hold" rating in a report on Saturday, August 16th. Zacks Research raised RadNet from a "strong sell" rating to a "hold" rating in a report on Monday. Raymond James Financial reissued a "strong-buy" rating and issued a $75.00 target price (up from $66.00) on shares of RadNet in a report on Wednesday, August 13th. Truist Financial set a $74.00 target price on RadNet in a report on Thursday, July 10th. Finally, Morgan Stanley raised RadNet to an "overweight" rating in a report on Monday, August 11th. Three equities research analysts have rated the stock with a Strong Buy rating, four have given a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat.com, RadNet presently has an average rating of "Buy" and an average target price of $71.60.

RadNet Company 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.