Steigerwald Gordon & Koch Inc. Sells 4,195 Shares of RadNet, Inc. $RDNT

Key Points

• Steigerwald Gordon & Koch Inc. reduced its stake in **RadNet, Inc.** by **29.2%**, selling **4,195 shares** and retaining **10,175 shares** worth approximately **$579,000** at the end of the last reporting period.
• Several institutional investors, including T. Rowe Price and American Century Companies, significantly increased their holdings in RadNet during the first quarter, with American Century growing its position by **507.9%**.
• RadNet has received favorable ratings from analysts, with Barclays raising its target price to **$79.00**, and it currently holds an average "Buy" rating with a consensus price target of **$76.80**.

Steigerwald Gordon & Koch Inc. reduced its stake in RadNet, Inc. (NASDAQ:RDNT - Free Report) by 29.2% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 10,175 shares of the medical research company's stock after selling 4,195 shares during the period. Steigerwald Gordon & Koch Inc.'s holdings in RadNet were worth $579,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Beck Mack & Oliver LLC grew its holdings in shares of RadNet by 6.9% in the first quarter. Beck Mack & Oliver LLC now owns 3,280,449 shares of the medical research company's stock worth $163,104,000 after purchasing an additional 211,570 shares during 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. T. Rowe Price Investment Management Inc. grew its holdings in shares of RadNet by 81.4% in the first quarter. T. Rowe Price Investment Management Inc. now owns 1,657,613 shares of the medical research company's stock worth $82,417,000 after purchasing an additional 743,922 shares during the last quarter. American Century Companies Inc. grew its holdings 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 purchasing an additional 1,063,516 shares during the last quarter. Finally, Alyeska Investment Group L.P. grew its holdings in shares of RadNet by 141.7% in the first quarter. Alyeska Investment Group L.P. now owns 1,214,882 shares of the medical research company's stock worth $60,404,000 after purchasing an additional 712,270 shares during the last quarter. Hedge funds and other institutional investors own 77.90% of the company's stock.

Insider Transactions at RadNet

In other news, EVP David Jeffrey Katz sold 17,000 shares of RadNet stock in a transaction dated 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 completion of the transaction, the executive vice president owned 86,774 shares of the company's stock, valued at $5,927,531.94. The trade was a 16.38% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Cornelis Wesdorp sold 1,500 shares of RadNet stock in a transaction dated 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 of the company's stock, valued at approximately $3,650,075.10. This represents a 2.68% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 135,098 shares of company stock worth $9,430,715 over the last quarter. Corporate insiders own 5.60% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on RDNT. Barclays raised their target price on shares of RadNet from $60.00 to $79.00 and gave the stock an "overweight" rating in a report on Wednesday, September 3rd. Wall Street Zen upgraded shares of RadNet from a "sell" rating to a "hold" rating in a report on Saturday, August 16th. Morgan Stanley upgraded shares of RadNet to an "overweight" rating in a report on Monday, August 11th. Zacks Research raised RadNet from a "strong sell" rating to a "hold" rating in a research note on Monday, August 18th. Finally, Raymond James Financial reissued a "strong-buy" rating and set a $75.00 price objective (up from $66.00) on shares of RadNet in a research report on Wednesday, August 13th. Three analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating and one has given a Hold rating to the company's stock. Based on data from MarketBeat, RadNet has an average rating of "Buy" and a consensus price target of $76.80.

RadNet Price Performance

RDNT opened at $75.64 on Tuesday. The stock has a 50-day moving average price of $65.35 and a 200-day moving average price of $57.95. 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 firm has a market cap of $5.82 billion, a PE ratio of -378.18 and a beta of 1.54. RadNet, Inc. has a 1 year low of $45.00 and a 1 year high of $93.65.

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

Want to see what other hedge funds are holding RDNT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for RadNet, Inc. (NASDAQ:RDNT - Free Report).

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.