Goldman Sachs Group Inc. Purchases 27,311 Shares of RadNet, Inc. (NASDAQ:RDNT)

Goldman Sachs Group Inc. lifted its position in shares of RadNet, Inc. (NASDAQ:RDNT) by 3.7% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 771,662 shares of the medical research company’s stock after acquiring an additional 27,311 shares during the quarter. Goldman Sachs Group Inc.’s holdings in RadNet were worth $26,831,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Natixis Advisors L.P. raised its position in shares of RadNet by 5.6% during the fourth quarter. Natixis Advisors L.P. now owns 11,789 shares of the medical research company’s stock worth $409,000 after acquiring an additional 627 shares during the last quarter. Assetmark Inc. grew its stake in shares of RadNet by 35.2% during the fourth quarter. Assetmark Inc. now owns 3,183 shares of the medical research company’s stock worth $111,000 after purchasing an additional 829 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of RadNet by 8.3% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 13,357 shares of the medical research company’s stock worth $464,000 after purchasing an additional 1,028 shares during the period. Yousif Capital Management LLC grew its stake in shares of RadNet by 4.8% during the fourth quarter. Yousif Capital Management LLC now owns 31,211 shares of the medical research company’s stock worth $1,085,000 after purchasing an additional 1,428 shares during the period. Finally, Teachers Retirement System of The State of Kentucky grew its stake in shares of RadNet by 3.8% during the fourth quarter. Teachers Retirement System of The State of Kentucky now owns 61,447 shares of the medical research company’s stock worth $2,136,000 after purchasing an additional 2,272 shares during the period. Institutional investors own 77.90% of the company’s stock.

RadNet Stock Up 2.5 %

NASDAQ:RDNT opened at $58.74 on Monday. The company has a current ratio of 1.86, a quick ratio of 1.86 and a debt-to-equity ratio of 0.76. The stock has a market cap of $4.34 billion, a price-to-earnings ratio of 195.80 and a beta of 1.76. The stock has a 50-day moving average price of $55.19 and a two-hundred day moving average price of $45.57. RadNet, Inc. has a 1 year low of $25.11 and a 1 year high of $64.06.

RadNet (NASDAQ:RDNT) last posted its quarterly earnings data on Wednesday, May 8th. The medical research company reported $0.07 earnings per share for the quarter, topping the consensus estimate of ($0.09) by $0.16. The company had revenue of $431.70 million during the quarter, compared to analysts’ expectations of $421.72 million. RadNet had a return on equity of 5.05% and a net margin of 1.28%. RadNet’s revenue for the quarter was up 10.5% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.08) earnings per share. As a group, equities analysts expect that RadNet, Inc. will post 0.59 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on RDNT. Barclays began coverage on RadNet in a research note on Wednesday, March 6th. They set an “equal weight” rating and a $48.00 price objective for the company. Raymond James boosted their target price on RadNet from $50.00 to $60.00 and gave the company an “outperform” rating in a research note on Friday, May 10th. Jefferies Financial Group boosted their target price on RadNet from $47.00 to $58.00 and gave the company a “buy” rating in a research note on Friday, March 22nd. Truist Financial reissued a “buy” rating and issued a $63.00 target price (up from $55.00) on shares of RadNet in a research note on Wednesday, May 15th. Finally, StockNews.com cut RadNet from a “hold” rating to a “sell” rating in a research note on Wednesday, May 15th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $57.25.

Insider Transactions at RadNet

In other news, EVP David Jeffrey Katz sold 16,400 shares of the company’s stock in a transaction dated Friday, June 7th. The stock was sold at an average price of $61.26, for a total transaction of $1,004,664.00. Following the completion of the transaction, the executive vice president now directly owns 65,441 shares of the company’s stock, valued at $4,008,915.66. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other RadNet news, Director Christine Nayoma Gordon sold 1,500 shares of the company’s stock in a transaction that occurred on Monday, June 10th. The stock was sold at an average price of $61.03, for a total value of $91,545.00. Following the sale, the director now owns 10,879 shares in the company, valued at $663,945.37. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP David Jeffrey Katz sold 16,400 shares of the company’s stock in a transaction that occurred on Friday, June 7th. The shares were sold at an average price of $61.26, for a total value of $1,004,664.00. Following the completion of the sale, the executive vice president now owns 65,441 shares in the company, valued at approximately $4,008,915.66. The disclosure for this sale can be found here. Insiders sold 99,730 shares of company stock valued at $6,121,516 over the last three months. Company insiders own 5.12% of the company’s stock.

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.