Nisa Investment Advisors LLC Buys 751 Shares of RadNet, Inc. (NASDAQ:RDNT)

Nisa Investment Advisors LLC lifted its position in RadNet, Inc. (NASDAQ:RDNT) by 774.2% in the second quarter, Holdings Channel reports. The firm owned 848 shares of the medical research company’s stock after buying an additional 751 shares during the period. Nisa Investment Advisors LLC’s holdings in RadNet were worth $50,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of the company. GAMMA Investing LLC raised its position in RadNet by 74.7% during the 2nd quarter. GAMMA Investing LLC now owns 865 shares of the medical research company’s stock valued at $51,000 after purchasing an additional 370 shares in the last quarter. Assetmark Inc. raised its holdings in shares of RadNet by 35.2% in the fourth quarter. Assetmark Inc. now owns 3,183 shares of the medical research company’s stock valued at $111,000 after acquiring an additional 829 shares in the last quarter. SG Americas Securities LLC lifted its stake in RadNet by 8.7% in the first quarter. SG Americas Securities LLC now owns 3,637 shares of the medical research company’s stock worth $177,000 after acquiring an additional 291 shares during the period. MQS Management LLC bought a new position in RadNet during the 1st quarter worth about $207,000. Finally, Los Angeles Capital Management LLC purchased a new position in RadNet during the 1st quarter valued at about $218,000. Institutional investors own 77.90% of the company’s stock.

Insiders Place Their Bets

In other news, EVP Alma Gregory Sorensen sold 5,000 shares of the company’s stock in a transaction dated Tuesday, June 11th. The shares were 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 in the company, valued at $76,501,314.20. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, EVP Alma Gregory Sorensen sold 5,000 shares of RadNet stock in a transaction on Tuesday, June 11th. The shares were sold at an average price of $61.24, for a total transaction of $306,200.00. Following the completion of the sale, the executive vice president now directly owns 1,249,205 shares in the company, valued at $76,501,314.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Mark Stolper sold 25,000 shares of the company’s stock in a transaction on Monday, June 10th. The shares were sold at an average price of $61.27, for a total value of $1,531,750.00. Following the completion of the transaction, the chief financial officer now directly owns 80,398 shares in the company, valued at $4,925,985.46. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 114,730 shares of company stock valued at $7,063,216. 5.12% of the stock is currently owned by corporate insiders.

RadNet Price Performance

Shares of RDNT opened at $65.00 on Monday. The company has a 50 day moving average of $60.48 and a two-hundred day moving average of $53.30. The company has a quick ratio of 1.86, a current ratio of 1.86 and a debt-to-equity ratio of 0.76. RadNet, Inc. has a twelve month low of $25.11 and a twelve month high of $66.04. The company has a market cap of $4.80 billion, a price-to-earnings ratio of 216.67 and a beta of 1.75.

RadNet (NASDAQ:RDNT) last posted its quarterly earnings data on Wednesday, August 7th. The medical research company reported $0.16 earnings per share for the quarter, missing analysts’ consensus estimates of $0.17 by ($0.01). RadNet had a return on equity of 5.05% and a net margin of 1.28%. The business had revenue of $459.70 million during the quarter, compared to analyst estimates of $438.53 million. During the same period in the previous year, the business earned $0.24 EPS. The firm’s revenue for the quarter was up 13.9% compared to the same quarter last year. As a group, analysts predict that RadNet, Inc. will post 0.58 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

RDNT has been the subject of several research reports. Barclays upped their price target on shares of RadNet from $51.00 to $57.00 and gave the stock an “equal weight” rating in a research report on Thursday, August 8th. Jefferies Financial Group increased their target price on RadNet from $61.00 to $75.00 and gave the company a “buy” rating in a research report on Thursday, July 11th. Truist Financial lifted their price target on RadNet from $63.00 to $70.00 and gave the company a “buy” rating in a report on Monday, July 15th. Raymond James upped their price objective on RadNet from $50.00 to $60.00 and gave the stock an “outperform” rating in a research note on Friday, May 10th. Finally, StockNews.com lowered RadNet from a “hold” rating to a “sell” rating in a research note on Wednesday, May 15th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, RadNet has an average rating of “Hold” and a consensus price target of $65.50.

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.