Versor Investments LP Invests $310,000 in RadNet, Inc. (NASDAQ:RDNT)

Versor Investments LP acquired a new stake in shares of RadNet, Inc. (NASDAQ:RDNT) during the 2nd quarter, HoldingsChannel.com reports. The firm acquired 5,256 shares of the medical research company’s stock, valued at approximately $310,000.

Several other hedge funds have also recently modified their holdings of the stock. Nisa Investment Advisors LLC lifted its stake in RadNet by 774.2% in the 2nd quarter. Nisa Investment Advisors LLC now owns 848 shares of the medical research company’s stock worth $50,000 after purchasing an additional 751 shares in the last quarter. GAMMA Investing LLC lifted its position in shares of RadNet by 74.7% in the second quarter. GAMMA Investing LLC now owns 865 shares of the medical research company’s stock worth $51,000 after buying an additional 370 shares in the last quarter. Assetmark Inc. boosted its stake in RadNet by 35.2% during the fourth quarter. Assetmark Inc. now owns 3,183 shares of the medical research company’s stock valued at $111,000 after buying an additional 829 shares during the last quarter. SG Americas Securities LLC grew its holdings in RadNet by 8.7% during the 1st quarter. SG Americas Securities LLC now owns 3,637 shares of the medical research company’s stock valued at $177,000 after buying an additional 291 shares in the last quarter. Finally, MQS Management LLC bought a new stake in RadNet in the 1st quarter worth approximately $207,000. Hedge funds and other institutional investors own 77.90% of the company’s stock.

Insider Activity at RadNet

In other RadNet news, EVP Alma Gregory Sorensen sold 5,000 shares of RadNet 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 completion of the sale, the executive vice president now directly owns 1,249,205 shares of the company’s stock, valued at approximately $76,501,314.20. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other news, COO Norman R. Hames sold 15,000 shares of the stock in a transaction that occurred on Monday, June 10th. The shares were sold at an average price of $61.15, for a total transaction of $917,250.00. Following the transaction, the chief operating officer now directly owns 280,919 shares in the company, valued at $17,178,196.85. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP Alma Gregory Sorensen sold 5,000 shares of the business’s stock in a transaction that occurred 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 completion of the transaction, the executive vice president now directly owns 1,249,205 shares of the company’s stock, valued at approximately $76,501,314.20. The disclosure for this sale can be found here. Over the last quarter, insiders sold 95,330 shares of company stock worth $5,874,652. Company insiders own 5.12% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on RDNT shares. Barclays raised their target price on shares of RadNet from $51.00 to $57.00 and gave the company an “equal weight” rating in a report on Thursday, August 8th. Raymond James lifted their price objective on shares of RadNet from $50.00 to $60.00 and gave the stock an “outperform” rating in a research note on Friday, May 10th. Truist Financial upped their target price on shares of RadNet from $63.00 to $70.00 and gave the company a “buy” rating in a research report on Monday, July 15th. StockNews.com lowered RadNet from a “hold” rating to a “sell” rating in a research report on Wednesday, May 15th. Finally, Jefferies Financial Group boosted 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. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, RadNet presently has a consensus rating of “Hold” and an average price target of $65.50.

RadNet Stock Up 0.8 %

NASDAQ:RDNT opened at $63.19 on Friday. The company has a market cap of $4.67 billion, a price-to-earnings ratio of 210.63 and a beta of 1.75. RadNet, Inc. has a twelve month low of $25.11 and a twelve month high of $66.57. The company has a current ratio of 2.12, a quick ratio of 2.12 and a debt-to-equity ratio of 0.92. The stock has a fifty day simple moving average of $61.52 and a 200-day simple moving average of $54.69.

RadNet (NASDAQ:RDNT) last announced 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). The company had revenue of $459.70 million for the quarter, compared to the consensus estimate of $438.53 million. RadNet had a net margin of 0.58% and a return on equity of 4.30%. The company’s quarterly revenue was up 13.9% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.24 EPS. Analysts anticipate that RadNet, Inc. will post 0.58 EPS 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.