Amalgamated Bank Sells 161 Shares of RadNet, Inc. (NASDAQ:RDNT)

Amalgamated Bank reduced its stake in shares of RadNet, Inc. (NASDAQ:RDNT) by 0.8% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 20,268 shares of the medical research company’s stock after selling 161 shares during the quarter. Amalgamated Bank’s holdings in RadNet were worth $1,194,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. SG Americas Securities LLC raised its position in shares of RadNet by 8.7% in 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. Hanseatic Management Services Inc. lifted its stake in RadNet by 1.8% during the second quarter. Hanseatic Management Services Inc. now owns 19,968 shares of the medical research company’s stock worth $1,177,000 after purchasing an additional 353 shares during the last quarter. GAMMA Investing LLC boosted its holdings in shares of RadNet by 74.7% in 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. Mutual of America Capital Management LLC increased its stake in shares of RadNet by 6.2% in the 1st quarter. Mutual of America Capital Management LLC now owns 11,232 shares of the medical research company’s stock valued at $547,000 after purchasing an additional 656 shares during the last quarter. Finally, Sumitomo Mitsui DS Asset Management Company Ltd raised its holdings in shares of RadNet by 12.3% during the 2nd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 6,688 shares of the medical research company’s stock worth $394,000 after buying an additional 731 shares in the last quarter. Institutional investors own 77.90% of the company’s stock.

RadNet Stock Performance

Shares of RDNT stock opened at $69.06 on Friday. The firm has a market capitalization of $5.10 billion, a price-to-earnings ratio of 230.20 and a beta of 1.74. 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 business’s 50-day moving average price is $63.64 and its 200-day moving average price is $57.35. RadNet, Inc. has a 12 month low of $25.11 and a 12 month high of $71.92.

RadNet (NASDAQ:RDNT) last posted its earnings results on Wednesday, August 7th. The medical research company reported $0.16 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 business had revenue of $459.70 million for the quarter, compared to analyst estimates of $438.53 million. During the same quarter in the prior year, the business earned $0.24 earnings per share. The firm’s quarterly revenue was up 13.9% on a year-over-year basis. Equities research analysts forecast that RadNet, Inc. will post 0.6 EPS for the current year.

Analyst Ratings Changes

RDNT has been the topic of a number of recent analyst reports. Jefferies Financial Group lifted their target price on RadNet from $75.00 to $80.00 and gave the company a “buy” rating in a research report on Thursday, September 19th. Truist Financial upped their price objective on shares of RadNet from $70.00 to $80.00 and gave the stock a “buy” rating in a research report on Monday. Finally, Barclays upgraded shares of RadNet from an “equal weight” rating to an “overweight” rating and raised their target price for the company from $57.00 to $79.00 in a research report on Friday, September 6th. One analyst has rated the stock with a sell rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $74.75.

Insider Activity at RadNet

In other RadNet news, EVP Michael N. Murdock sold 15,000 shares of RadNet stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $62.78, for a total transaction of $941,700.00. Following the transaction, the executive vice president now directly owns 48,144 shares of the company’s stock, valued at approximately $3,022,480.32. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 5.12% of the stock is currently owned by company 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.