EntryPoint Capital LLC Makes New $206,000 Investment in RadNet, Inc. $RDNT

Key Points

• EntryPoint Capital LLC has made a new investment in RadNet, Inc. by purchasing 4,145 shares valued at approximately $206,000.
• Multiple institutional investors, including RTW Investments LP and American Century Companies Inc., have significantly increased their stakes in RadNet, indicating strong interest in the company.
• Research analysts have raised their price targets on RadNet shares, with consensus ratings predominantly being "Buy" or "Strong Buy", reflecting positive market sentiment.

EntryPoint Capital LLC bought a new position in shares of RadNet, Inc. (NASDAQ:RDNT - Free Report) in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 4,145 shares of the medical research company's stock, valued at approximately $206,000.

A number of other large investors have also modified their holdings of RDNT. American Century Companies Inc. increased its position in RadNet by 507.9% during the first quarter. American Century Companies Inc. now owns 1,272,928 shares of the medical research company's stock worth $63,290,000 after buying an additional 1,063,516 shares in the last quarter. Nuveen LLC purchased a new position in RadNet during the first quarter worth $27,422,000. T. Rowe Price Investment Management Inc. increased its position in RadNet by 79.3% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 913,691 shares of the medical research company's stock worth $63,813,000 after buying an additional 404,241 shares in the last quarter. Tidal Investments LLC increased its position in RadNet by 7,219.2% during the fourth quarter. Tidal Investments LLC now owns 389,308 shares of the medical research company's stock worth $27,189,000 after buying an additional 383,989 shares in the last quarter. Finally, Alyeska Investment Group L.P. increased its position in RadNet by 108.6% during the fourth quarter. Alyeska Investment Group L.P. now owns 502,612 shares of the medical research company's stock worth $35,102,000 after buying an additional 261,711 shares in the last quarter. 77.90% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the company. Raymond James Financial restated a "strong-buy" rating and set a $75.00 price objective (up previously from $66.00) on shares of RadNet in a report on Wednesday, August 13th. B. Riley assumed coverage on RadNet in a report on Friday, June 13th. They set a "buy" rating and a $69.00 price objective on the stock. Wall Street Zen upgraded RadNet from a "sell" rating to a "hold" rating in a report on Saturday, August 16th. Zacks Research upgraded RadNet from a "strong sell" rating to a "hold" rating in a report on Monday, August 18th. Finally, Morgan Stanley upgraded RadNet to an "overweight" rating in a report on Monday, August 11th. Three investment 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 company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Buy" and a consensus price target of $71.60.

Insider Activity at RadNet

In other RadNet news, CEO Cornelis Wesdorp sold 1,500 shares of RadNet stock in a transaction that occurred on Tuesday, August 19th. The stock was sold at an average price of $66.98, for a total value of $100,470.00. Following the completion of the transaction, the chief executive officer directly owned 54,495 shares in the company, valued at $3,650,075.10. The trade was a 2.68% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, 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 value of $4,427,865.00. Following the completion of the transaction, the insider owned 138,198 shares of the company's stock, valued at approximately $9,328,365. The trade was a 32.19% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 84,098 shares of company stock valued at $5,689,605 over the last three months. 5.60% of the stock is owned by insiders.

RadNet Trading Down 0.7%

RadNet stock traded down $0.50 during midday trading on Friday, reaching $71.30. The stock had a trading volume of 150,368 shares, compared to its average volume of 820,535. RadNet, Inc. has a twelve month low of $45.00 and a twelve month high of $93.65. The stock has a market capitalization of $5.48 billion, a PE ratio of -356.23 and a beta of 1.43. The company has a debt-to-equity ratio of 0.91, a quick ratio of 2.00 and a current ratio of 2.00. The stock's 50-day simple moving average is $59.54 and its 200 day simple moving average is $56.19.

RadNet (NASDAQ:RDNT - Get Free Report) last released its quarterly earnings data 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. RadNet had a positive return on equity of 2.41% and a negative net margin of 0.78%.The company had revenue of $498.23 million for the quarter, compared to analyst estimates of $488.06 million. During the same period last year, the company posted $0.16 earnings per share. The firm's revenue was up 8.4% compared to the same quarter last year. Analysts expect that RadNet, Inc. will post 0.56 EPS 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.