Intech Investment Management LLC Purchases Shares of 7,573 RadNet, Inc. (NASDAQ:RDNT)

Intech Investment Management LLC purchased a new stake in RadNet, Inc. (NASDAQ:RDNT) during the second quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 7,573 shares of the medical research company’s stock, valued at approximately $446,000.

A number of other hedge funds also recently bought and sold shares of RDNT. Nisa Investment Advisors LLC raised its position in RadNet by 774.2% in the 2nd quarter. Nisa Investment Advisors LLC now owns 848 shares of the medical research company’s stock valued at $50,000 after purchasing an additional 751 shares in the last quarter. GAMMA Investing LLC raised its position in shares of RadNet by 74.7% during the 2nd quarter. GAMMA Investing LLC now owns 865 shares of the medical research company’s stock worth $51,000 after acquiring an additional 370 shares in the last quarter. Assetmark Inc. raised its position in shares of RadNet by 35.2% during the 4th quarter. Assetmark Inc. now owns 3,183 shares of the medical research company’s stock worth $111,000 after acquiring an additional 829 shares in the last quarter. SG Americas Securities LLC raised its position in shares of RadNet by 8.7% during the 1st quarter. SG Americas Securities LLC now owns 3,637 shares of the medical research company’s stock worth $177,000 after acquiring an additional 291 shares in the last quarter. Finally, MQS Management LLC acquired a new stake in shares of RadNet during the 1st quarter worth about $207,000. Institutional investors and hedge funds own 77.90% of the company’s stock.

Insider Buying and Selling

In other RadNet news, EVP Michael N. Murdock sold 15,000 shares of RadNet stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $62.78, for a total value of $941,700.00. Following the transaction, the executive vice president now directly owns 48,144 shares in the company, valued at approximately $3,022,480.32. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 5.12% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

RDNT has been the topic of several research analyst reports. Barclays raised RadNet from an “equal weight” rating to an “overweight” rating and raised their target price for the stock from $57.00 to $79.00 in a research report on Friday, September 6th. Truist Financial raised their target price on RadNet from $70.00 to $80.00 and gave the stock a “buy” rating in a research report on Monday, September 23rd. Finally, 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. One equities research analyst has rated the stock with a sell rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $74.75.

RadNet Trading Up 0.4 %

NASDAQ:RDNT opened at $69.33 on Friday. The stock’s 50 day moving average price is $63.64 and its 200 day moving average price is $57.35. The company has a market capitalization of $5.12 billion, a PE ratio of 231.10 and a beta of 1.74. The company has a quick ratio of 2.12, a current ratio of 2.12 and a debt-to-equity ratio of 0.92. RadNet, Inc. has a 52-week low of $25.11 and a 52-week high of $71.92.

RadNet (NASDAQ:RDNT) last released its quarterly earnings results on Wednesday, August 7th. The medical research company reported $0.16 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.17 by ($0.01). The firm had revenue of $459.70 million for the quarter, compared to analysts’ expectations of $438.53 million. RadNet had a return on equity of 4.30% and a net margin of 0.58%. The company’s quarterly revenue was up 13.9% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.24 EPS. On average, research analysts anticipate that RadNet, Inc. will post 0.6 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.