Vanguard Group Inc. Acquires 143,295 Shares of RadNet, Inc. (NASDAQ:RDNT)

Vanguard Group Inc. grew its position in RadNet, Inc. (NASDAQ:RDNT - Free Report) by 3.5% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 4,222,234 shares of the medical research company's stock after purchasing an additional 143,295 shares during the period. Vanguard Group Inc. owned approximately 6.12% of RadNet worth $119,025,000 at the end of the most recent quarter.

Several other institutional investors have also recently modified their holdings of RDNT. Teachers Retirement System of The State of Kentucky raised its position in shares of RadNet by 273.3% in the third quarter. Teachers Retirement System of The State of Kentucky now owns 59,175 shares of the medical research company's stock worth $1,668,000 after acquiring an additional 43,324 shares during the period. Rhumbline Advisers boosted its position in RadNet by 18.7% during the third quarter. Rhumbline Advisers now owns 180,248 shares of the medical research company's stock worth $5,081,000 after purchasing an additional 28,378 shares in the last quarter. Barclays PLC grew its holdings in RadNet by 261.7% in the third quarter. Barclays PLC now owns 100,709 shares of the medical research company's stock valued at $2,840,000 after purchasing an additional 72,864 shares during the period. Charles Schwab Investment Management Inc. increased its position in shares of RadNet by 8.6% in the third quarter. Charles Schwab Investment Management Inc. now owns 594,316 shares of the medical research company's stock valued at $16,754,000 after buying an additional 47,187 shares in the last quarter. Finally, Hsbc Holdings PLC raised its stake in shares of RadNet by 52.3% during the 3rd quarter. Hsbc Holdings PLC now owns 212,788 shares of the medical research company's stock worth $6,034,000 after buying an additional 73,081 shares during the period. 77.90% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

RDNT has been the subject of a number of research analyst reports. Jefferies Financial Group increased their target price on RadNet from $47.00 to $58.00 and gave the company a "buy" rating in a report on Friday, March 22nd. Barclays started coverage on RadNet in a research note on Wednesday, March 6th. They issued an "equal weight" rating and a $48.00 price objective for the company. Truist Financial reaffirmed a "buy" rating and set a $55.00 target price (up previously from $51.00) on shares of RadNet in a research note on Thursday, March 28th. Finally, StockNews.com upgraded shares of RadNet from a "sell" rating to a "hold" rating in a research report on Thursday, March 28th.

RadNet Stock Down 0.3 %

Shares of NASDAQ RDNT traded down $0.13 during mid-day trading on Thursday, hitting $47.91. The company had a trading volume of 487,058 shares, compared to its average volume of 543,357. RadNet, Inc. has a 1-year low of $24.78 and a 1-year high of $49.71. The company has a market capitalization of $3.28 billion, a PE ratio of -2,394.30 and a beta of 1.69. The company has a debt-to-equity ratio of 1.00, a current ratio of 1.32 and a quick ratio of 1.32. The business's 50-day simple moving average is $42.38 and its 200 day simple moving average is $35.73.

RadNet (NASDAQ:RDNT - Get Free Report) last announced its quarterly earnings data on Friday, March 1st. The medical research company reported $0.20 EPS for the quarter, beating analysts' consensus estimates of $0.11 by $0.09. RadNet had a net margin of 0.19% and a return on equity of 4.72%. The company had revenue of $420.38 million for the quarter, compared to the consensus estimate of $410.11 million. During the same period in the prior year, the firm posted $0.11 EPS. The company's quarterly revenue was up 9.5% compared to the same quarter last year. On average, analysts predict that RadNet, Inc. will post 0.37 earnings per share 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.