O ROURKE & COMPANY Inc Invests $245,000 in RadNet, Inc. (NASDAQ:RDNT)

O ROURKE & COMPANY Inc acquired a new position in RadNet, Inc. (NASDAQ:RDNT) during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund acquired 5,025 shares of the medical research company’s stock, valued at approximately $245,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Vanguard Group Inc. grew its position in RadNet by 0.8% during the 4th quarter. Vanguard Group Inc. now owns 4,254,717 shares of the medical research company’s stock worth $147,937,000 after purchasing an additional 32,483 shares during the last quarter. Dimensional Fund Advisors LP grew its position in RadNet by 4.3% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,744,124 shares of the medical research company’s stock worth $60,646,000 after purchasing an additional 71,714 shares during the last quarter. Principal Financial Group Inc. grew its position in RadNet by 11.5% during the 4th quarter. Principal Financial Group Inc. now owns 1,290,582 shares of the medical research company’s stock worth $44,874,000 after purchasing an additional 133,221 shares during the last quarter. Goldman Sachs Group Inc. grew its position in RadNet by 3.7% during the 4th quarter. Goldman Sachs Group Inc. now owns 771,662 shares of the medical research company’s stock worth $26,831,000 after purchasing an additional 27,311 shares during the last quarter. Finally, Wellington Management Group LLP grew its position in RadNet by 16.9% during the 4th quarter. Wellington Management Group LLP now owns 727,172 shares of the medical research company’s stock worth $25,284,000 after purchasing an additional 105,164 shares during the last quarter. Hedge funds and other institutional investors own 77.90% of the company’s stock.

Insider Activity at RadNet

In other RadNet news, COO Norman R. Hames sold 18,597 shares of the company’s stock in a transaction on Wednesday, June 12th. The shares were sold at an average price of $63.08, for a total transaction of $1,173,098.76. Following the completion of the transaction, the chief operating officer now directly owns 227,322 shares in the company, valued at $14,339,471.76. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other RadNet news, COO Norman R. Hames sold 18,597 shares of the company’s stock in a transaction on Wednesday, June 12th. The shares were sold at an average price of $63.08, for a total transaction of $1,173,098.76. Following the completion of the transaction, the chief operating officer now directly owns 227,322 shares in the company, valued at $14,339,471.76. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Alma Gregory Sorensen sold 5,000 shares of the company’s stock in a transaction on Tuesday, June 11th. The stock was sold at an average price of $61.24, for a total transaction of $306,200.00. Following the transaction, the executive vice president now owns 1,249,205 shares of the company’s stock, valued at $76,501,314.20. The disclosure for this sale can be found here. Insiders sold a total of 99,730 shares of company stock worth $6,121,516 in the last three months. Company insiders own 5.12% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the stock. Raymond James boosted their target price on shares of RadNet from $50.00 to $60.00 and gave the stock an “outperform” rating in a research report on Friday, May 10th. Truist Financial restated a “buy” rating and set a $63.00 price objective (up from $55.00) on shares of RadNet in a research note on Wednesday, May 15th. Barclays began coverage on shares of RadNet in a research note on Wednesday, March 6th. They set an “equal weight” rating and a $48.00 price objective for the company. Jefferies Financial Group lifted their price objective on shares of RadNet from $47.00 to $58.00 and gave the company a “buy” rating in a research note on Friday, March 22nd. Finally, StockNews.com cut shares of 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 given a buy rating to the stock. Based on data from MarketBeat, RadNet has an average rating of “Hold” and a consensus price target of $57.25.

RadNet Stock Performance

RDNT opened at $58.55 on Tuesday. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.86 and a quick ratio of 1.86. The firm has a fifty day moving average price of $56.49 and a 200 day moving average price of $46.49. RadNet, Inc. has a 1 year low of $25.11 and a 1 year high of $64.06. The stock has a market cap of $4.33 billion, a P/E ratio of 195.17 and a beta of 1.75.

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