RadNet, Inc. $RDNT Stock Position Raised by AlphaQuest LLC

Key Points

• AlphaQuest LLC increased its position in RadNet, Inc. by 161.6%, owning a total of 5,817 shares valued at $289,000 after purchasing an additional 3,593 shares in the first quarter.
• RadNet's recent earnings report showed an EPS of $0.31, exceeding analysts' expectations of $0.17, and the company reported revenue growth of 8.4% year-over-year.
• Institutional investors now control 77.90% of RadNet's stock, with substantial stake increases reported by multiple firms, signaling strong institutional confidence in the company.

AlphaQuest LLC grew its position in shares of RadNet, Inc. (NASDAQ:RDNT - Free Report) by 161.6% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 5,817 shares of the medical research company's stock after purchasing an additional 3,593 shares during the quarter. AlphaQuest LLC's holdings in RadNet were worth $289,000 as of its most recent filing with the SEC.

Several other hedge funds also recently made changes to their positions in the company. Moran Wealth Management LLC boosted its stake in shares of RadNet by 2.2% during the first quarter. Moran Wealth Management LLC now owns 10,643 shares of the medical research company's stock worth $529,000 after buying an additional 225 shares during the period. Xponance Inc. boosted its stake in shares of RadNet by 5.0% during the first quarter. Xponance Inc. now owns 5,010 shares of the medical research company's stock worth $249,000 after buying an additional 239 shares during the period. GAMMA Investing LLC boosted its stake in shares of RadNet by 22.3% during the first 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 during the period. Tower Research Capital LLC TRC boosted its stake in shares of RadNet by 42.2% during the fourth 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 during the period. Finally, HighTower Advisors LLC boosted its stake in shares of RadNet by 6.2% during the first quarter. HighTower Advisors LLC now owns 9,345 shares of the medical research company's stock worth $465,000 after buying an additional 548 shares during the period. Hedge funds and other institutional investors own 77.90% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the stock. Wall Street Zen upgraded shares of RadNet from a "sell" rating to a "hold" rating in a research note on Saturday, August 16th. Morgan Stanley raised shares of RadNet to an "overweight" rating in a report on Monday, August 11th. Zacks Research raised shares of RadNet from a "strong sell" rating to a "hold" rating in a report on Monday, August 18th. Truist Financial set a $74.00 price objective on shares of RadNet in a research note on Thursday, July 10th. Finally, Raymond James Financial reissued a "strong-buy" rating and set a $75.00 price objective (up from $66.00) on shares of RadNet in a research note on Wednesday, August 13th. Three analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat.com, RadNet presently has an average rating of "Buy" and a consensus price target of $71.60.

Insider Buying and Selling at RadNet

In related news, CEO Cornelis Wesdorp sold 1,500 shares of RadNet stock in a transaction on Tuesday, August 19th. The shares were sold at an average price of $66.98, for a total transaction of $100,470.00. Following the transaction, the chief executive officer owned 54,495 shares in the company, valued at approximately $3,650,075.10. The trade was a 2.68% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 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 transaction of $1,161,270.00. Following the transaction, the executive vice president owned 86,774 shares in the company, valued at $5,927,531.94. The trade was a 16.38% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 89,098 shares of company stock worth $6,045,105. Insiders own 5.60% of the company's stock.

RadNet Trading Down 0.0%

RDNT stock traded down $0.03 during midday trading on Monday, hitting $71.76. The stock had a trading volume of 627,715 shares, compared to its average volume of 1,048,944. The firm has a market cap of $5.52 billion, a PE ratio of -358.78 and a beta of 1.54. The company's 50-day moving average price is $59.87 and its 200 day moving average price is $56.17. RadNet, Inc. has a 12-month low of $45.00 and a 12-month high of $93.65. The company has a debt-to-equity ratio of 0.91, a current ratio of 2.00 and a quick ratio of 2.00.

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