Yousif Capital Management LLC Buys 761 Shares of RadNet, Inc. $RDNT

Yousif Capital Management LLC grew its stake in shares of RadNet, Inc. (NASDAQ:RDNT) by 3.1% in the second quarter, according to the company in its most recent filing with the SEC. The firm owned 25,192 shares of the medical research company’s stock after acquiring an additional 761 shares during the quarter. Yousif Capital Management LLC’s holdings in RadNet were worth $1,434,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of the stock. Allspring Global Investments Holdings LLC lifted its position in shares of RadNet by 6.6% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 1,801,559 shares of the medical research company’s stock valued at $100,203,000 after acquiring an additional 112,284 shares during the period. Maryland State Retirement & Pension System lifted its position in shares of RadNet by 2.2% during the 2nd quarter. Maryland State Retirement & Pension System now owns 19,404 shares of the medical research company’s stock worth $1,104,000 after buying an additional 423 shares during the last quarter. KLP Kapitalforvaltning AS lifted its position in shares of RadNet by 9.1% during the 2nd quarter. KLP Kapitalforvaltning AS now owns 13,200 shares of the medical research company’s stock worth $751,000 after buying an additional 1,100 shares during the last quarter. Truist Financial Corp bought a new stake in shares of RadNet during the 2nd quarter worth $396,000. Finally, Wolff Wiese Magana LLC lifted its position in shares of RadNet by 11,576.0% during the 2nd quarter. Wolff Wiese Magana LLC now owns 2,919 shares of the medical research company’s stock worth $166,000 after buying an additional 2,894 shares during the last quarter. 77.90% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on RDNT. Raymond James Financial restated a “strong-buy” rating and set a $75.00 price objective (up from $66.00) on shares of RadNet in a research report on Wednesday, August 13th. Morgan Stanley upgraded RadNet to an “overweight” rating in a research report on Monday, August 11th. Barclays upped their price objective on RadNet from $60.00 to $79.00 and gave the stock an “overweight” rating in a research report on Wednesday, September 3rd. Wall Street Zen upgraded RadNet from a “sell” rating to a “hold” rating in a research report on Saturday, August 16th. Finally, Truist Financial upped their price objective on RadNet from $74.00 to $81.00 and gave the stock a “buy” rating in a research report on Wednesday, September 3rd. Three equities research analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, RadNet currently has a consensus rating of “Buy” and an average target price of $76.80.

RadNet Stock Performance

RadNet stock opened at $78.44 on Tuesday. The business has a 50 day moving average of $73.17 and a 200-day moving average of $61.66. RadNet, Inc. has a 1 year low of $45.00 and a 1 year high of $93.65. The company has a debt-to-equity ratio of 0.91, a current ratio of 2.00 and a quick ratio of 2.00. The company has a market capitalization of $6.03 billion, a P/E ratio of -392.18 and a beta of 1.59.

RadNet (NASDAQ:RDNT) last released its quarterly earnings data on Sunday, August 10th. The medical research company reported $0.31 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.17 by $0.14. RadNet had a positive return on equity of 2.41% and a negative net margin of 0.78%.The company had revenue of $498.23 million during the quarter, compared to the consensus estimate of $488.06 million. During the same quarter in the prior year, the firm posted $0.16 earnings per share. The firm’s revenue was up 8.4% compared to the same quarter last year. On average, equities research analysts predict that RadNet, Inc. will post 0.56 earnings per share for the current year.

Insider Buying and Selling

In other news, EVP David Jeffrey Katz sold 17,000 shares of the stock in a transaction dated Wednesday, August 13th. The stock was sold at an average price of $68.31, for a total value of $1,161,270.00. Following the completion of the sale, the executive vice president owned 86,774 shares of the company’s stock, valued at approximately $5,927,531.94. This represents a 16.38% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Cornelis Wesdorp sold 1,500 shares of the stock in a transaction dated Tuesday, August 19th. The shares were sold at an average price of $66.98, for a total value of $100,470.00. Following the completion of the sale, the chief executive officer directly owned 54,495 shares of the company’s stock, valued at approximately $3,650,075.10. The trade was a 2.68% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 135,098 shares of company stock valued at $9,430,715 over the last three months. Insiders own 5.60% of the company’s stock.

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.