Natixis Advisors LLC Buys 6,382 Shares of RadNet, Inc. (NASDAQ:RDNT)

Natixis Advisors LLC grew its holdings in shares of RadNet, Inc. (NASDAQ:RDNT) by 46.1% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 20,225 shares of the medical research company’s stock after acquiring an additional 6,382 shares during the period. Natixis Advisors LLC’s holdings in RadNet were worth $1,192,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in RDNT. RTW Investments LP bought a new position in RadNet in the 4th quarter valued at about $23,073,000. Clearbridge Investments LLC bought a new stake in RadNet during the 1st quarter worth approximately $26,617,000. Allspring Global Investments Holdings LLC raised its holdings in shares of RadNet by 103.8% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 1,011,974 shares of the medical research company’s stock valued at $59,626,000 after acquiring an additional 515,342 shares in the last quarter. 8 Knots Management LLC bought a new stake in shares of RadNet during the 1st quarter worth $20,273,000. Finally, Vanguard Group Inc. lifted its position in RadNet by 8.1% in the 1st quarter. Vanguard Group Inc. now owns 4,600,539 shares of the medical research company’s stock worth $223,862,000 after buying an additional 345,822 shares during the last quarter. 77.90% of the stock is currently owned by institutional investors.

RadNet Price Performance

RadNet stock opened at $60.34 on Wednesday. The firm’s fifty day moving average is $61.72 and its 200 day moving average is $55.31. RadNet, Inc. has a 52-week low of $25.11 and a 52-week high of $67.93. The company has a quick ratio of 2.12, a current ratio of 2.12 and a debt-to-equity ratio of 0.92. The company has a market cap of $4.46 billion, a price-to-earnings ratio of 199.73 and a beta of 1.74.

RadNet (NASDAQ:RDNT) last released its quarterly earnings results on Wednesday, August 7th. The medical research company reported $0.16 EPS for the quarter, missing analysts’ consensus estimates of $0.17 by ($0.01). RadNet had a return on equity of 4.30% and a net margin of 0.58%. The firm had revenue of $459.70 million for the quarter, compared to analysts’ expectations of $438.53 million. During the same period in the prior year, the firm posted $0.24 earnings per share. RadNet’s revenue for the quarter was up 13.9% on a year-over-year basis. Sell-side analysts forecast that RadNet, Inc. will post 0.58 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the stock. Jefferies Financial Group increased their price target on shares of RadNet from $61.00 to $75.00 and gave the company a “buy” rating in a research report on Thursday, July 11th. Truist Financial boosted their target price on shares of RadNet from $63.00 to $70.00 and gave the company a “buy” rating in a research note on Monday, July 15th. Barclays raised shares of RadNet from an “equal weight” rating to an “overweight” rating and boosted their price objective for the company from $57.00 to $79.00 in a research report on Friday, September 6th. Finally, StockNews.com cut shares of 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 and four have assigned a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $71.00.

Insider Activity at RadNet

In related news, Director Lawrence L. Levitt sold 4,000 shares of the company’s stock in a transaction dated Friday, June 14th. The shares were sold at an average price of $57.77, for a total value of $231,080.00. Following the completion of the sale, the director now directly owns 172,657 shares of the company’s stock, valued at $9,974,394.89. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other RadNet news, Director Lawrence L. Levitt sold 4,000 shares of the firm’s stock in a transaction that occurred on Friday, June 14th. The shares were sold at an average price of $57.77, for a total value of $231,080.00. Following the completion of the sale, the director now directly owns 172,657 shares in the company, valued at $9,974,394.89. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Michael N. Murdock sold 15,000 shares of the stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $62.78, for a total transaction of $941,700.00. Following the completion of the transaction, the executive vice president now directly owns 48,144 shares of the company’s stock, valued at $3,022,480.32. The disclosure for this sale can be found here. Insiders sold 26,167 shares of company stock worth $1,601,008 in the last 90 days. 5.12% of the stock is owned by corporate insiders.

About RadNet

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.