3,515 Shares in RadNet, Inc. (NASDAQ:RDNT) Acquired by Profund Advisors LLC

Profund Advisors LLC bought a new stake in shares of RadNet, Inc. (NASDAQ:RDNT) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 3,515 shares of the medical research company’s stock, valued at approximately $207,000.

A number of other institutional investors and hedge funds have also modified their holdings of RDNT. Vanguard Group Inc. boosted its position in shares of RadNet by 8.1% during the first quarter. Vanguard Group Inc. now owns 4,600,539 shares of the medical research company’s stock valued at $223,862,000 after buying an additional 345,822 shares during the last quarter. Principal Financial Group Inc. grew its stake in shares of RadNet by 11.8% in the first quarter. Principal Financial Group Inc. now owns 1,442,887 shares of the medical research company’s stock worth $70,211,000 after acquiring an additional 152,305 shares during the period. Hood River Capital Management LLC raised its holdings in shares of RadNet by 7.8% during the first quarter. Hood River Capital Management LLC now owns 1,071,129 shares of the medical research company’s stock valued at $52,121,000 after purchasing an additional 77,244 shares during the last quarter. Global Alpha Capital Management Ltd. lifted its position in RadNet by 16.2% during the first quarter. Global Alpha Capital Management Ltd. now owns 1,019,934 shares of the medical research company’s stock valued at $49,630,000 after purchasing an additional 141,830 shares during the period. Finally, Allspring Global Investments Holdings LLC boosted its holdings in RadNet by 103.8% in the second quarter. Allspring Global Investments Holdings LLC now owns 1,011,974 shares of the medical research company’s stock worth $59,626,000 after purchasing an additional 515,342 shares during the last quarter. Institutional investors own 77.90% of the company’s stock.

RadNet Stock Performance

NASDAQ:RDNT opened at $69.33 on Monday. The stock has a 50-day simple moving average of $63.78 and a two-hundred day simple moving average of $57.59. The company has a debt-to-equity ratio of 0.92, a quick ratio of 2.12 and a current ratio of 2.12. RadNet, Inc. has a 52-week low of $25.11 and a 52-week high of $71.92. The firm has a market capitalization of $5.12 billion, a PE ratio of 231.10 and a beta of 1.74.

RadNet (NASDAQ:RDNT) last released its earnings results on Wednesday, August 7th. The medical research company reported $0.16 earnings per share (EPS) for the quarter, missing the consensus estimate 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 during the quarter, compared to analysts’ expectations of $438.53 million. During the same period in the prior year, the company posted $0.24 earnings per share. The company’s revenue was up 13.9% compared to the same quarter last year. Analysts forecast that RadNet, Inc. will post 0.6 EPS for the current year.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the company. Barclays raised RadNet from an “equal weight” rating to an “overweight” rating and increased their price target for the company from $57.00 to $79.00 in a report on Friday, September 6th. Jefferies Financial Group raised their target price on RadNet from $75.00 to $80.00 and gave the stock a “buy” rating in a research report on Thursday, September 19th. Finally, Truist Financial increased their price objective on shares of RadNet from $70.00 to $80.00 and gave the stock a “buy” rating in a research note on Monday, September 23rd. One investment analyst has rated the stock with a sell rating and four have given a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $74.75.

Insider Transactions at RadNet

In related news, EVP Michael N. Murdock sold 15,000 shares of RadNet stock in a transaction 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 transaction, the executive vice president now owns 48,144 shares in the company, valued at approximately $3,022,480.32. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Corporate 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.