Louisiana State Employees Retirement System Sells 2,000 Shares of RadNet, Inc. (NASDAQ:RDNT)

Louisiana State Employees Retirement System lowered its holdings in shares of RadNet, Inc. (NASDAQ:RDNT) by 6.0% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 31,500 shares of the medical research company’s stock after selling 2,000 shares during the period. Louisiana State Employees Retirement System’s holdings in RadNet were worth $2,186,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. Nisa Investment Advisors LLC raised its stake in shares of RadNet by 774.2% during the second quarter. Nisa Investment Advisors LLC now owns 848 shares of the medical research company’s stock valued at $50,000 after acquiring an additional 751 shares during the last quarter. GAMMA Investing LLC increased its position in shares of RadNet by 74.7% during the second quarter. GAMMA Investing LLC now owns 865 shares of the medical research company’s stock worth $51,000 after buying an additional 370 shares during the period. SG Americas Securities LLC increased its position in shares of RadNet by 8.7% during the first quarter. SG Americas Securities LLC now owns 3,637 shares of the medical research company’s stock worth $177,000 after buying an additional 291 shares during the period. MQS Management LLC acquired a new stake in shares of RadNet during the first quarter worth $207,000. Finally, Profund Advisors LLC acquired a new stake in shares of RadNet during the second quarter worth $207,000. Institutional investors own 77.90% of the company’s stock.

RadNet Stock Up 0.9 %

Shares of NASDAQ RDNT opened at $67.70 on Wednesday. The stock has a market capitalization of $5.00 billion, a P/E ratio of 225.67 and a beta of 1.74. The company has a 50-day moving average price of $66.65 and a 200-day moving average price of $60.70. RadNet, Inc. has a 1 year low of $25.59 and a 1 year high of $72.18. The company has a debt-to-equity ratio of 0.92, a current ratio of 2.12 and a quick ratio of 2.12.

RadNet (NASDAQ:RDNT) last issued its quarterly earnings data 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 net margin of 0.58% and a return on equity of 4.30%. 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% compared to the same quarter last year. On average, equities research analysts forecast that RadNet, Inc. will post 0.6 EPS for the current fiscal year.

Insider Activity at RadNet

In related news, EVP Michael N. Murdock sold 15,000 shares of the firm’s stock in a transaction dated 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 directly owns 48,144 shares of the company’s stock, valued at $3,022,480.32. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 5.12% of the stock is owned by insiders.

Analyst Ratings Changes

Several research firms have recently weighed in on RDNT. 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 report on Monday, September 23rd. Sidoti upgraded shares of RadNet to a “strong-buy” rating in a research report on Friday, October 4th. Jefferies Financial Group raised their price target on shares of RadNet from $75.00 to $80.00 and gave the stock a “buy” rating in a report on Thursday, September 19th. Finally, Barclays upgraded shares of RadNet from an “equal weight” rating to an “overweight” rating and raised their price target for the stock from $57.00 to $79.00 in a report on Friday, September 6th. One research analyst has rated the stock with a sell rating, four have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $74.75.

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.