Bamco Inc. NY acquired a new stake in RadNet, Inc. (NASDAQ:RDNT - Free Report) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 1,260,992 shares of the medical research company's stock, valued at approximately $77,765,000. Bamco Inc. NY owned about 1.60% of RadNet at the end of the most recent reporting period.
Several other large investors also recently modified their holdings of RDNT. BlackRock Inc. acquired a new position in RadNet during the 2nd quarter worth $675,768,000. RTW Investments LP raised its stake in shares of RadNet by 39.9% in the 4th quarter. RTW Investments LP now owns 3,938,500 shares of the medical research company's stock valued at $281,012,000 after purchasing an additional 1,122,956 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its position in shares of RadNet by 30.3% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 2,699,082 shares of the medical research company's stock worth $192,581,000 after purchasing an additional 627,936 shares during the last quarter. State Street Corp lifted its position in shares of RadNet by 1.6% during the fourth quarter. State Street Corp now owns 2,579,073 shares of the medical research company's stock worth $184,017,000 after purchasing an additional 41,356 shares during the last quarter. Finally, Geode Capital Management LLC grew its stake in RadNet by 0.4% in the fourth quarter. Geode Capital Management LLC now owns 1,671,543 shares of the medical research company's stock worth $119,283,000 after purchasing an additional 6,655 shares in the last quarter. 77.90% of the stock is currently owned by institutional investors and hedge funds.
RadNet Stock Down 0.5%
Shares of RDNT stock opened at $76.47 on Thursday. RadNet, Inc. has a 1 year low of $50.82 and a 1 year high of $85.84. The stock has a market cap of $6.02 billion, a PE ratio of -283.21 and a beta of 1.36. The business's fifty day moving average is $66.46 and its 200-day moving average is $62.16. The company has a debt-to-equity ratio of 0.94, a quick ratio of 1.48 and a current ratio of 1.48.
RadNet (NASDAQ:RDNT - Get Free Report) last issued its earnings results on Monday, August 10th. The medical research company reported $0.29 earnings per share for the quarter, topping analysts' consensus estimates of $0.20 by $0.09. RadNet had a negative net margin of 0.93% and a positive return on equity of 2.61%. The firm had revenue of $622.72 million during the quarter, compared to analysts' expectations of $610.87 million. During the same period last year, the firm posted $0.31 earnings per share. The firm's revenue for the quarter was up 25.0% compared to the same quarter last year. Equities analysts expect that RadNet, Inc. will post 0.49 earnings per share for the current fiscal year.
Insiders Place Their Bets
In related news, Director David L. Swartz sold 2,699 shares of RadNet stock in a transaction on Thursday, June 18th. The stock was sold at an average price of $53.89, for a total value of $145,449.11. Following the transaction, the director directly owned 177,013 shares in the company, valued at $9,539,230.57. The trade was a 1.50% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Cornelis Wesdorp sold 4,750 shares of the business's stock in a transaction on Tuesday, June 16th. The stock was sold at an average price of $58.11, for a total value of $276,022.50. Following the sale, the chief executive officer directly owned 69,075 shares in the company, valued at $4,013,948.25. This trade represents a 6.43% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 5.14% of the company's stock.
Analysts Set New Price Targets
A number of equities research analysts recently weighed in on the stock. Barclays lowered their price objective on shares of RadNet from $70.00 to $65.00 and set an "overweight" rating for the company in a research report on Wednesday, May 20th. Jefferies Financial Group restated a "buy" rating on shares of RadNet in a research note on Friday, July 31st. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of RadNet in a report on Friday, August 7th. Truist Financial increased their price target on RadNet from $90.00 to $94.00 and gave the stock a "buy" rating in a research report on Tuesday, August 11th. Finally, Zacks Research raised RadNet from a "strong sell" rating to a "hold" rating in a report on Thursday, August 13th. Two investment analysts have rated the stock with a Strong Buy rating, five have given a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $88.00.
Check Out Our Latest Stock Analysis on RDNT
RadNet Profile
(
Free Report)
RadNet, Inc is a leading independent provider of outpatient diagnostic imaging services in the United States. Through a nationwide network of fixed-site imaging centers and affiliated joint-venture locations, the company delivers a comprehensive suite of radiology services including MRI, CT, PET/CT, ultrasound, X-ray, mammography, bone densitometry, nuclear medicine and interventional radiology procedures. RadNet also offers teleradiology and imaging management solutions to physician practices, hospitals and healthcare systems.
Founded in 1981 and headquartered in Los Angeles, RadNet has expanded its footprint organically and through strategic acquisitions.
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