Kingdon Capital Management L.L.C. Invests $3.83 Million in RadNet, Inc. $RDNT

Key Points

• Kingdon Capital Management L.L.C. invested approximately $3.83 million in RadNet, acquiring 77,000 shares, representing around 0.10% ownership according to their recent SEC filing.
• RadNet reported $498.23 million in revenue for the last quarter, beating analyst estimates and showing an 8.4% year-over-year increase in revenue.
• Analysts have a generally positive outlook on RadNet, with a consensus rating of "Buy" and an average price target of $71.60.

Kingdon Capital Management L.L.C. acquired a new position in RadNet, Inc. (NASDAQ:RDNT - Free Report) in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 77,000 shares of the medical research company's stock, valued at approximately $3,828,000. Kingdon Capital Management L.L.C. owned about 0.10% of RadNet as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. Headlands Technologies LLC acquired a new stake in RadNet during the first quarter worth about $28,000. Tower Research Capital LLC TRC boosted its position in RadNet by 42.2% in the 4th quarter. Tower Research Capital LLC TRC now owns 1,422 shares of the medical research company's stock worth $99,000 after purchasing an additional 422 shares in the last quarter. GAMMA Investing LLC boosted its position in RadNet by 22.3% in the 1st quarter. GAMMA Investing LLC now owns 1,644 shares of the medical research company's stock worth $82,000 after purchasing an additional 300 shares in the last quarter. Aquatic Capital Management LLC purchased a new stake in RadNet in the 4th quarter worth approximately $187,000. Finally, Renaissance Technologies LLC purchased a new stake in RadNet in the 4th quarter worth approximately $237,000. 77.90% of the stock is currently owned by hedge funds and other institutional investors.

RadNet Trading Down 0.0%

Shares of NASDAQ:RDNT opened at $71.76 on Friday. RadNet, Inc. has a 1 year low of $45.00 and a 1 year high of $93.65. The firm has a market capitalization of $5.52 billion, a price-to-earnings ratio of -358.78 and a beta of 1.43. The company has a debt-to-equity ratio of 0.91, a current ratio of 2.00 and a quick ratio of 2.00. The business's 50 day moving average price is $59.87 and its 200-day moving average price is $56.26.

RadNet (NASDAQ:RDNT - Get Free Report) last announced its earnings results on Sunday, August 10th. The medical research company reported $0.31 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 firm had revenue of $498.23 million for the quarter, compared to analyst estimates of $488.06 million. During the same quarter last year, the firm posted $0.16 EPS. The business's revenue was up 8.4% on a year-over-year basis. On average, equities research analysts forecast that RadNet, Inc. will post 0.56 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms have commented on RDNT. Raymond James Financial restated a "strong-buy" rating and issued a $75.00 price objective (up previously from $66.00) on shares of RadNet in a research report on Wednesday, August 13th. B. Riley began coverage on RadNet in a research report on Friday, June 13th. They issued a "buy" rating and a $69.00 price objective on the stock. Zacks Research upgraded RadNet from a "strong sell" rating to a "hold" rating in a research report on Monday, August 18th. Wall Street Zen upgraded RadNet from a "sell" rating to a "hold" rating in a research report on Saturday, August 16th. Finally, Morgan Stanley upgraded RadNet to an "overweight" rating in a research report on Monday, August 11th. Three research analysts have rated the stock with a Strong Buy rating, four have given a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Buy" and an average price target of $71.60.

Insiders Place Their Bets

In other RadNet news, EVP David Jeffrey Katz sold 17,000 shares of the firm's stock in a transaction on Wednesday, August 13th. The stock was sold at an average price of $68.31, for a total value of $1,161,270.00. Following the transaction, 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 sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Ranjan Jayanathan sold 65,598 shares of the firm's stock in a transaction 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 in the company, valued at $9,328,365. The trade was a 32.19% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 89,098 shares of company stock worth $6,045,105. Corporate insiders own 5.60% of the company's stock.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.