Charles Schwab Investment Management Inc. Sells 26,199 Shares of RadNet, Inc. $RDNT

Key Points

• Charles Schwab Investment Management Inc. reduced its holdings in RadNet, Inc. by 4.2%, selling 26,199 shares, and currently owns about 0.80% of the company worth approximately $29.7 million.
• Several institutional investors increased their stakes in RadNet, with notable rises from US Bancorp DE (up 4,620.8%) and GAMMA Investing LLC (up 22.3%).
• RadNet reported a quarterly EPS of $0.31, beating estimates, alongside revenue growth of 8.4% year-over-year, totaling $498.23 million.

Charles Schwab Investment Management Inc. reduced its position in shares of RadNet, Inc. (NASDAQ:RDNT - Free Report) by 4.2% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 597,991 shares of the medical research company's stock after selling 26,199 shares during the period. Charles Schwab Investment Management Inc. owned about 0.80% of RadNet worth $29,732,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the company. Scotia Capital Inc. lifted its holdings in RadNet by 25.5% during the 1st quarter. Scotia Capital Inc. now owns 35,632 shares of the medical research company's stock valued at $1,772,000 after purchasing an additional 7,234 shares during the last quarter. US Bancorp DE lifted its holdings in RadNet by 4,620.8% during the 1st quarter. US Bancorp DE now owns 3,635 shares of the medical research company's stock valued at $181,000 after purchasing an additional 3,558 shares during the last quarter. Modera Wealth Management LLC bought a new position in RadNet during the 1st quarter valued at about $218,000. Wellington Shields & Co. LLC bought a new position in RadNet during the 1st quarter valued at about $393,000. Finally, LPL Financial LLC lifted its holdings in RadNet by 616.4% during the 1st quarter. LPL Financial LLC now owns 45,260 shares of the medical research company's stock valued at $2,235,000 after purchasing an additional 38,942 shares during the last quarter. 77.90% of the stock is owned by institutional investors.

Insider Transactions at RadNet

In other news, insider Ranjan Jayanathan sold 65,598 shares of RadNet stock in a transaction that occurred on Tuesday, August 19th. The shares were sold at an average price of $67.50, for a total transaction of $4,427,865.00. Following the completion of the sale, the insider owned 138,198 shares in the company, valued at $9,328,365. The trade was a 32.19% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP David Jeffrey Katz sold 17,000 shares of RadNet stock in a transaction that occurred on Wednesday, August 13th. The stock was sold at an average price of $68.31, for a total transaction of $1,161,270.00. Following the sale, the executive vice president owned 86,774 shares of the company's stock, valued at approximately $5,927,531.94. This represents a 16.38% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 84,098 shares of company stock worth $5,689,605 in the last quarter. 5.60% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on RDNT. Truist Financial set a $74.00 price target on shares of RadNet in a report on Thursday, July 10th. Zacks Research raised shares of RadNet from a "strong sell" rating to a "hold" rating in a report on Monday. B. Riley assumed coverage on shares of RadNet in a report on Friday, June 13th. They set a "buy" rating and a $69.00 price target for the company. Morgan Stanley upgraded shares of RadNet to an "overweight" rating in a research report on Monday, August 11th. Finally, Wall Street Zen upgraded shares of RadNet from a "sell" rating to a "hold" rating in a research report on Saturday, August 16th. Three research analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating and one has given a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Buy" and an average price target of $71.60.

RadNet Trading Up 2.2%

Shares of NASDAQ:RDNT traded up $1.49 during trading on Friday, hitting $70.10. 700,892 shares of the company's stock were exchanged, compared to its average volume of 1,024,711. RadNet, Inc. has a 1-year low of $45.00 and a 1-year high of $93.65. The firm has a 50-day moving average price of $58.44 and a two-hundred day moving average price of $56.01. The company has a current ratio of 2.00, a quick ratio of 2.00 and a debt-to-equity ratio of 0.91. The firm has a market cap of $5.39 billion, a P/E ratio of -350.48 and a beta of 1.43.

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

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.