Cerity Partners LLC Invests $5.87 Million in RadNet, Inc. (NASDAQ:RDNT)

Cerity Partners LLC bought a new position in shares of RadNet, Inc. (NASDAQ:RDNT - Free Report) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm bought 168,864 shares of the medical research company's stock, valued at approximately $5,871,000. Cerity Partners LLC owned about 0.24% of RadNet as of its most recent SEC filing.

Several other large investors have also bought and sold shares of the stock. Tower Research Capital LLC TRC boosted its stake in RadNet by 84.3% during the first quarter. Tower Research Capital LLC TRC now owns 1,078 shares of the medical research company's stock worth $27,000 after acquiring an additional 493 shares in the last quarter. Assetmark Inc. boosted its position in shares of RadNet by 51.6% during the 3rd quarter. Assetmark Inc. now owns 2,354 shares of the medical research company's stock worth $66,000 after purchasing an additional 801 shares in the last quarter. Lazard Asset Management LLC acquired a new stake in shares of RadNet in the 3rd quarter valued at about $69,000. UBS Group AG increased its position in RadNet by 48.8% in the 3rd quarter. UBS Group AG now owns 2,645 shares of the medical research company's stock valued at $54,000 after buying an additional 867 shares in the last quarter. Finally, Cubist Systematic Strategies LLC raised its stake in RadNet by 180.8% during the 2nd quarter. Cubist Systematic Strategies LLC now owns 3,443 shares of the medical research company's stock worth $59,000 after buying an additional 2,217 shares during the period. 77.90% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the company. StockNews.com downgraded RadNet from a "hold" rating to a "sell" rating in a report on Thursday, April 11th. Jefferies Financial Group raised their price target on shares of RadNet from $47.00 to $58.00 and gave the company a "buy" rating in a research report on Friday, March 22nd. Barclays began coverage on RadNet in a report on Wednesday, March 6th. They set an "equal weight" rating and a $48.00 price objective for the company. Finally, 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 report on Thursday, March 28th.

RadNet Stock Performance

RDNT traded down $0.09 during trading on Wednesday, hitting $47.80. 405,896 shares of the company traded hands, compared to its average volume of 527,476. The firm has a market cap of $3.27 billion, a P/E ratio of -2,388.81 and a beta of 1.69. The company has a quick ratio of 1.32, a current ratio of 1.32 and a debt-to-equity ratio of 1.00. RadNet, Inc. has a one year low of $25.11 and a one year high of $49.94. The stock's fifty day moving average is $44.16 and its 200 day moving average is $37.00.

RadNet (NASDAQ:RDNT - Get Free Report) last issued its earnings results on Friday, March 1st. The medical research company reported $0.20 earnings per share for the quarter, topping 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 firm had revenue of $420.38 million during the quarter, compared to analyst estimates of $410.11 million. During the same quarter last year, the business earned $0.11 earnings per share. The company's quarterly revenue was up 9.5% on a year-over-year basis. As a group, equities analysts predict that RadNet, Inc. will post 0.35 EPS 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.