473,791 Shares in RadNet, Inc. (NASDAQ:RDNT) Purchased by Raymond James Financial Inc.

Raymond James Financial Inc. bought a new stake in RadNet, Inc. (NASDAQ:RDNT) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 473,791 shares of the medical research company’s stock, valued at approximately $33,090,000. Raymond James Financial Inc. owned 0.64% of RadNet as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of RDNT. Covestor Ltd boosted its stake in RadNet by 10,875.0% in the third quarter. Covestor Ltd now owns 439 shares of the medical research company’s stock valued at $30,000 after acquiring an additional 435 shares during the period. Crossmark Global Holdings Inc. boosted its stake in RadNet by 6.3% in the third quarter. Crossmark Global Holdings Inc. now owns 4,958 shares of the medical research company’s stock valued at $344,000 after acquiring an additional 296 shares during the period. Natixis Advisors LLC boosted its position in shares of RadNet by 11.4% during the third quarter. Natixis Advisors LLC now owns 22,530 shares of the medical research company’s stock worth $1,563,000 after buying an additional 2,305 shares during the period. Sawgrass Asset Management LLC acquired a new position in shares of RadNet during the third quarter worth approximately $207,000. Finally, Peterson Financial Group Inc. acquired a new position in shares of RadNet during the third quarter worth approximately $90,000. 77.90% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the company. Jefferies Financial Group reduced their price objective on RadNet from $100.00 to $80.00 and set a “buy” rating for the company in a research report on Wednesday, January 15th. Truist Financial reiterated a “buy” rating and set a $88.00 price objective (down from $94.00) on shares of RadNet in a research report on Wednesday, January 22nd. Barclays dropped their target price on RadNet from $85.00 to $74.00 and set an “overweight” rating on the stock in a report on Wednesday, January 22nd. Finally, Raymond James raised RadNet from an “outperform” rating to a “strong-buy” rating and dropped their target price for the stock from $85.00 to $65.00 in a report on Wednesday, March 5th. One research analyst has rated the stock with a sell rating, three have issued a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, RadNet presently has an average rating of “Buy” and an average target price of $76.75.

RadNet Price Performance

NASDAQ RDNT opened at $45.92 on Friday. The stock has a market capitalization of $3.40 billion, a P/E ratio of -655.91 and a beta of 1.85. RadNet, Inc. has a 1 year low of $42.45 and a 1 year high of $93.65. The business’s fifty day moving average is $61.50 and its two-hundred day moving average is $68.14. The company has a debt-to-equity ratio of 0.89, a quick ratio of 2.16 and a current ratio of 2.16.

RadNet (NASDAQ:RDNT) last posted its quarterly earnings results on Thursday, February 27th. The medical research company reported $0.22 EPS for the quarter, beating the consensus estimate of $0.21 by $0.01. RadNet had a negative net margin of 0.25% and a positive return on equity of 4.29%. The business had revenue of $477.10 million for the quarter, compared to analysts’ expectations of $459.42 million. On average, research analysts forecast that RadNet, Inc. will post 0.56 earnings per share for the current fiscal year.

Insider Buying and Selling

In other RadNet news, CEO Cornelis Wesdorp sold 1,000 shares of the business’s stock in a transaction on Friday, March 7th. The shares were sold at an average price of $50.52, for a total transaction of $50,520.00. Following the completion of the transaction, the chief executive officer now owns 55,995 shares of the company’s stock, valued at $2,828,867.40. The trade was a 1.75 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director David L. Swartz sold 25,000 shares of the business’s stock in a transaction on Friday, March 7th. The stock was sold at an average price of $50.84, for a total transaction of $1,271,000.00. Following the transaction, the director now directly owns 174,067 shares of the company’s stock, valued at approximately $8,849,566.28. This represents a 12.56 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 28,000 shares of company stock worth $1,426,680. Corporate insiders own 5.12% of the company’s stock.

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.