Virtue Capital Management LLC Acquires 1,239 Shares of RadNet, Inc. (NASDAQ:RDNT)

Virtue Capital Management LLC lifted its holdings in RadNet, Inc. (NASDAQ:RDNT) by 6.4% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 20,628 shares of the medical research company’s stock after purchasing an additional 1,239 shares during the period. Virtue Capital Management LLC’s holdings in RadNet were worth $1,441,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the business. Vanguard Group Inc. lifted its stake in shares of RadNet by 1.0% in the 4th quarter. Vanguard Group Inc. now owns 7,425,218 shares of the medical research company’s stock worth $518,577,000 after purchasing an additional 71,910 shares during the period. RTW Investments LP lifted its stake in shares of RadNet by 9.4% in the 4th quarter. RTW Investments LP now owns 1,978,582 shares of the medical research company’s stock worth $138,184,000 after purchasing an additional 169,978 shares during the period. Invesco Ltd. lifted its stake in shares of RadNet by 4.3% in the 4th quarter. Invesco Ltd. now owns 1,731,074 shares of the medical research company’s stock worth $120,898,000 after purchasing an additional 70,673 shares during the period. Allspring Global Investments Holdings LLC lifted its stake in shares of RadNet by 30.4% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 1,475,995 shares of the medical research company’s stock worth $103,532,000 after purchasing an additional 344,146 shares during the period. Finally, Hood River Capital Management LLC increased its holdings in RadNet by 3.1% in the 4th quarter. Hood River Capital Management LLC now owns 1,322,879 shares of the medical research company’s stock worth $92,390,000 after acquiring an additional 39,881 shares in the last quarter. Institutional investors own 77.90% of the company’s stock.

Insider Buying and Selling at RadNet

In other RadNet news, COO Norman R. Hames sold 5,536 shares of the stock in a transaction that occurred on Thursday, May 15th. The shares were sold at an average price of $60.00, for a total transaction of $332,160.00. Following the completion of the sale, the chief operating officer now directly owns 249,183 shares of the company’s stock, valued at $14,950,980. This trade represents a 2.17% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Cornelis Wesdorp sold 1,000 shares of the stock in a transaction that occurred 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 sale, the chief executive officer now directly owns 55,995 shares of the company’s stock, valued at approximately $2,828,867.40. This trade represents a 1.75% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 46,447 shares of company stock valued at $2,433,550 in the last three months. 5.12% of the stock is currently owned by corporate insiders.

RadNet Trading Down 0.3%

Shares of RDNT opened at $56.61 on Monday. The company has a debt-to-equity ratio of 0.89, a current ratio of 2.16 and a quick ratio of 2.16. RadNet, Inc. has a 1 year low of $45.00 and a 1 year high of $93.65. The company has a 50 day simple moving average of $52.81 and a two-hundred day simple moving average of $62.77. The firm has a market cap of $4.25 billion, a P/E ratio of -808.60 and a beta of 1.46.

RadNet (NASDAQ:RDNT) last announced its quarterly earnings data on Thursday, February 27th. The medical research company reported $0.22 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to analyst estimates of $459.42 million. On average, equities analysts expect that RadNet, Inc. will post 0.56 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on RDNT. Truist Financial reduced their target price on shares of RadNet from $88.00 to $74.00 and set a “buy” rating for the company in a report on Friday, April 11th. Wall Street Zen lowered shares of RadNet from a “hold” rating to a “sell” rating in a report on Thursday. Barclays reduced their target price on shares of RadNet from $74.00 to $60.00 and set an “overweight” rating for the company in a report on Monday, March 24th. Finally, Raymond James raised shares of RadNet from an “outperform” rating to a “strong-buy” rating and reduced 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 given a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, RadNet presently has an average rating of “Buy” and an average target price of $69.75.

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.