RadNet, Inc. (NASDAQ:RDNT) Shares Acquired by SG Americas Securities LLC

SG Americas Securities LLC grew its stake in shares of RadNet, Inc. (NASDAQ:RDNT) by 444.6% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 16,229 shares of the medical research company’s stock after acquiring an additional 13,249 shares during the period. SG Americas Securities LLC’s holdings in RadNet were worth $1,126,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Clearbridge Investments LLC acquired a new position in RadNet during the first quarter worth $26,617,000. Allspring Global Investments Holdings LLC raised its stake in shares of RadNet by 103.8% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 1,011,974 shares of the medical research company’s stock worth $59,626,000 after buying an additional 515,342 shares during the last quarter. 8 Knots Management LLC purchased a new stake in shares of RadNet in the 1st quarter worth about $20,273,000. Vanguard Group Inc. grew its stake 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 valued at $223,862,000 after acquiring an additional 345,822 shares during the last quarter. Finally, Whittier Trust Co. purchased a new position in RadNet during the 2nd quarter valued at about $11,069,000. Hedge funds and other institutional investors 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 the company’s 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 completion of the sale, the executive vice president now directly owns 48,144 shares in the company, valued at $3,022,480.32. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 5.12% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several research firms have recently commented on RDNT. Barclays upgraded shares of 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 research report on Friday, September 6th. Truist Financial raised their price target on RadNet from $70.00 to $80.00 and gave the stock a “buy” rating in a research report on Monday, September 23rd. Jefferies Financial Group upped their price objective on RadNet from $75.00 to $80.00 and gave the company a “buy” rating in a research report on Thursday, September 19th. Finally, Sidoti upgraded RadNet to a “strong-buy” rating in a research report on Friday, October 4th. One investment analyst has rated the stock with a sell rating, four have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, RadNet presently has an average rating of “Moderate Buy” and an average price target of $74.75.

RadNet Trading Down 2.1 %

Shares of RadNet stock opened at $64.99 on Friday. RadNet, Inc. has a fifty-two week low of $25.11 and a fifty-two week high of $71.92. The business’s fifty day moving average is $64.89 and its two-hundred day moving average is $58.87. 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 firm has a market cap of $4.80 billion, a PE ratio of 216.63 and a beta of 1.74.

RadNet (NASDAQ:RDNT) last issued 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). RadNet had a return on equity of 4.30% and a net margin of 0.58%. The business had revenue of $459.70 million during the quarter, compared to analyst estimates of $438.53 million. During the same period in the previous year, the business posted $0.24 earnings per share. The firm’s quarterly revenue was up 13.9% on a year-over-year basis. Analysts anticipate that RadNet, Inc. will post 0.6 earnings per share for the current year.

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.