Wealth Enhancement Advisory Services LLC Has $696,000 Stock Position in RadNet, Inc. $RDNT

Key Points

• Wealth Enhancement Advisory Services LLC increased its stake in RadNet, Inc. by 78.2% during the second quarter, bringing its total holdings to 12,378 shares valued at approximately $696,000.
• RadNet's latest quarterly earnings report showed an EPS of $0.31, exceeding analysts' expectations of $0.17, with revenue reaching $498.23 million, up 8.4% year-over-year.
• Institutional investors own 77.90% of RadNet's stock, reflecting a strong interest in the company from major investment firms.

Wealth Enhancement Advisory Services LLC boosted its holdings in shares of RadNet, Inc. (NASDAQ:RDNT - Free Report) by 78.2% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 12,378 shares of the medical research company's stock after buying an additional 5,433 shares during the period. Wealth Enhancement Advisory Services LLC's holdings in RadNet were worth $696,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently bought and sold shares of RDNT. Headlands Technologies LLC acquired a new position in RadNet during the first quarter valued at $28,000. GAMMA Investing LLC grew its stake in RadNet by 22.3% in the first quarter. GAMMA Investing LLC now owns 1,644 shares of the medical research company's stock valued at $82,000 after purchasing an additional 300 shares in the last quarter. Jones Financial Companies Lllp grew its stake in RadNet by 563.4% in the first quarter. Jones Financial Companies Lllp now owns 1,705 shares of the medical research company's stock valued at $85,000 after purchasing an additional 1,448 shares in the last quarter. Strs Ohio purchased a new position in RadNet in the first quarter valued at about $139,000. Finally, US Bancorp DE grew its stake in RadNet by 4,620.8% in the first quarter. US Bancorp DE now owns 3,635 shares of the medical research company's stock valued at $181,000 after purchasing an additional 3,558 shares in the last quarter. 77.90% of the stock is owned by institutional investors and hedge funds.

RadNet Price Performance

Shares of NASDAQ:RDNT opened at $77.64 on Friday. The business has a 50 day moving average price of $68.80 and a 200 day moving average price of $59.59. RadNet, Inc. has a twelve month low of $45.00 and a twelve month high of $93.65. The company has a market cap of $5.97 billion, a price-to-earnings ratio of -388.18 and a beta of 1.59. 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 posted its quarterly earnings results 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. The firm had revenue of $498.23 million during the quarter, compared to analysts' expectations of $488.06 million. RadNet had a positive return on equity of 2.41% and a negative net margin of 0.78%.The company's revenue for the quarter was up 8.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.16 EPS. Research analysts predict that RadNet, Inc. will post 0.56 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on RDNT shares. Wall Street Zen upgraded RadNet from a "sell" rating to a "hold" rating in a research note on Saturday, August 16th. Zacks Research upgraded RadNet from a "strong sell" rating to a "hold" rating in a research note on Monday, August 18th. Barclays upped their price target on RadNet from $60.00 to $79.00 and gave the stock an "overweight" rating in a research note on Wednesday, September 3rd. Morgan Stanley raised RadNet to an "overweight" rating in a report on Monday, August 11th. Finally, Weiss Ratings reissued a "sell (d)" rating on shares of RadNet in a report on Saturday, September 27th. Two analysts have rated the stock with a Strong Buy rating, four have given a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, RadNet has a consensus rating of "Moderate Buy" and a consensus target price of $76.80.

Insider Transactions at RadNet

In other RadNet news, EVP Mark Stolper sold 35,000 shares of the company's stock in a transaction that occurred on Tuesday, September 16th. The stock was sold at an average price of $73.89, for a total value of $2,586,150.00. Following the completion of the transaction, the executive vice president owned 68,012 shares of the company's stock, valued at $5,025,406.68. This represents a 33.98% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP David Jeffrey Katz sold 17,000 shares of the company's stock in a transaction that occurred on Wednesday, August 13th. The shares were 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 directly owned 86,774 shares of the company's stock, 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. Over the last 90 days, insiders have sold 135,098 shares of company stock worth $9,430,715. 5.60% of the stock is currently owned by company insiders.

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.

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