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 purchased a new position in shares of RadNet, Inc. (NASDAQ:RDNT - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 4,145 shares of the medical research company's stock, valued at approximately $206,000.

Several other large investors have also recently made changes to their positions in the business. RTW Investments LP raised its stake in shares of RadNet by 9.4% during the fourth quarter. RTW Investments LP now owns 1,978,582 shares of the medical research company's stock worth $138,184,000 after acquiring an additional 169,978 shares in the last quarter. Allspring Global Investments Holdings LLC grew its holdings in shares of RadNet by 14.4% in the first quarter. Allspring Global Investments Holdings LLC now owns 1,689,275 shares of the medical research company's stock worth $85,511,000 after purchasing an additional 213,280 shares during the last quarter. American Century Companies Inc. increased its stake in shares of RadNet by 507.9% in 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 during the period. T. Rowe Price Investment Management Inc. increased its stake in shares of RadNet by 79.3% in 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 during the period. Finally, Northern Trust Corp increased its stake in shares of RadNet by 16.5% in the fourth quarter. Northern Trust Corp now owns 772,088 shares of the medical research company's stock worth $53,923,000 after buying an additional 109,093 shares during the period. 77.90% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at RadNet

In other news, insider Ranjan Jayanathan sold 65,598 shares of the business's stock in a transaction 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 sale, the insider owned 138,198 shares in the company, valued at approximately $9,328,365. The trade was a 32.19% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP David Jeffrey Katz sold 17,000 shares of the business's 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 sale, the executive vice president owned 86,774 shares in the company, valued at approximately $5,927,531.94. This trade represents a 16.38% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 84,098 shares of company stock worth $5,689,605 over the last quarter. Corporate insiders own 5.60% of the company's stock.

Analysts Set New Price Targets

Several research analysts recently commented on RDNT shares. Wall Street Zen raised 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 research note on Monday, August 11th. B. Riley started coverage on shares of RadNet in a research note on Friday, June 13th. They issued a "buy" rating and a $69.00 target price on the stock. Raymond James Financial reaffirmed a "strong-buy" rating and issued a $75.00 target price (up from $66.00) on shares of RadNet in a research note on Wednesday, August 13th. Finally, Truist Financial set a $74.00 target price on shares of RadNet in a research note on Thursday, July 10th. 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 company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Buy" and a consensus target price of $71.60.

RadNet Stock Performance

NASDAQ:RDNT opened at $70.10 on Friday. The stock has a market cap of $5.39 billion, a P/E ratio of -350.48 and a beta of 1.43. The firm's fifty day simple moving average is $58.44 and its 200 day simple moving average is $55.93. RadNet, Inc. has a twelve month low of $45.00 and a twelve month high of $93.65. 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 quarterly earnings results on Sunday, August 10th. The medical research company reported $0.31 earnings per share for the quarter, beating the consensus estimate of $0.17 by $0.14. The business had revenue of $498.23 million for the quarter, compared to analysts' expectations of $488.06 million. RadNet had a negative net margin of 0.78% and a positive return on equity of 2.41%. The firm's revenue for the quarter was up 8.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.16 earnings per share. As a group, research analysts predict that RadNet, Inc. will post 0.56 EPS for the current year.

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.

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