Van Berkom & Associates Inc. Grows Position in RadNet, Inc. $RDNT

Key Points

• Van Berkom & Associates increased its RadNet stake by 24.9% in Q1, buying 204,858 shares and bringing its total holdings to 1,028,586 shares worth about $57.5 million.
• RadNet reported Q1 earnings of -$0.28 per share, missing analyst expectations, but revenue of $575.63 million topped estimates and rose 22.1% year over year.
• Sentiment on the stock remains mixed: analysts have a Moderate Buy consensus with an average target price of $87.43, while recent insider sales and some downgrades signal caution.

Van Berkom & Associates Inc. grew its stake in RadNet, Inc. (NASDAQ:RDNT - Free Report) by 24.9% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,028,586 shares of the medical research company's stock after buying an additional 204,858 shares during the quarter. Van Berkom & Associates Inc. owned approximately 1.31% of RadNet worth $57,488,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in RDNT. RTW Investments LP boosted its position in shares of RadNet by 39.9% in the fourth quarter. RTW Investments LP now owns 3,938,500 shares of the medical research company's stock worth $281,012,000 after purchasing an additional 1,122,956 shares during the period. Polar Capital Holdings Plc bought a new stake in RadNet during the 3rd quarter valued at approximately $63,423,000. Price T Rowe Associates Inc. MD lifted its holdings in RadNet by 30.3% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 2,699,082 shares of the medical research company's stock worth $192,581,000 after purchasing an additional 627,936 shares in the last quarter. Ameriprise Financial Inc. lifted its holdings in RadNet by 79.7% in the 2nd quarter. Ameriprise Financial Inc. now owns 1,394,552 shares of the medical research company's stock worth $79,364,000 after purchasing an additional 618,392 shares in the last quarter. Finally, Defiance ETFs LLC bought a new position in RadNet in the 4th quarter worth approximately $37,019,000. Institutional investors own 77.90% of the company's stock.

RadNet Price Performance

Shares of NASDAQ RDNT opened at $62.19 on Monday. RadNet, Inc. has a 1 year low of $50.76 and a 1 year high of $85.84. The firm has a 50-day simple moving average of $57.99 and a two-hundred day simple moving average of $62.69. The company has a market cap of $4.89 billion, a P/E ratio of -345.48 and a beta of 1.37. The company has a debt-to-equity ratio of 0.79, a current ratio of 1.17 and a quick ratio of 1.17.

RadNet (NASDAQ:RDNT - Get Free Report) last released its earnings results on Monday, May 11th. The medical research company reported ($0.28) EPS for the quarter, missing analysts' consensus estimates of ($0.14) by ($0.14). RadNet had a negative net margin of 0.66% and a positive return on equity of 2.77%. The business had revenue of $575.63 million for the quarter, compared to the consensus estimate of $557.93 million. During the same period in the prior year, the company posted ($0.50) EPS. The company's quarterly revenue was up 22.1% compared to the same quarter last year. Research analysts anticipate that RadNet, Inc. will post 0.54 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research firms have recently commented on RDNT. Barclays lowered their target price on shares of RadNet from $70.00 to $65.00 and set an "overweight" rating on the stock in a report on Wednesday, May 20th. Zacks Research downgraded shares of RadNet from a "hold" rating to a "strong sell" rating in a report on Monday, July 13th. Finally, Weiss Ratings cut RadNet from a "sell (d)" rating to a "sell (d-)" rating in a report on Tuesday, May 12th. Two investment analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating and two have assigned a Sell rating to the company. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $87.43.

Insiders Place Their Bets

In related news, Director David L. Swartz sold 2,699 shares of the firm's stock in a transaction dated Thursday, June 18th. The shares were sold at an average price of $53.89, for a total value of $145,449.11. Following the transaction, the director owned 177,013 shares of the company's stock, valued at $9,539,230.57. This trade represents a 1.50% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Cornelis Wesdorp sold 4,750 shares of RadNet stock in a transaction dated Tuesday, June 16th. The shares were sold at an average price of $58.11, for a total transaction of $276,022.50. Following the sale, the chief executive officer owned 69,075 shares of the company's stock, valued at $4,013,948.25. The trade was a 6.43% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 5.60% of the company's stock.

RadNet Company Profile

RadNet, Inc is a leading independent provider of outpatient diagnostic imaging services in the United States. Through a nationwide network of fixed-site imaging centers and affiliated joint-venture locations, the company delivers a comprehensive suite of radiology services including MRI, CT, PET/CT, ultrasound, X-ray, mammography, bone densitometry, nuclear medicine and interventional radiology procedures. RadNet also offers teleradiology and imaging management solutions to physician practices, hospitals and healthcare systems.

Founded in 1981 and headquartered in Los Angeles, RadNet has expanded its footprint organically and through strategic acquisitions.

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