Segall Bryant & Hamill LLC Buys 54,364 Shares of RadNet, Inc. $RDNT

Segall Bryant & Hamill LLC raised its position in shares of RadNet, Inc. (NASDAQ:RDNT) by 20.5% in the second quarter, according to its most recent filing with the SEC. The firm owned 319,407 shares of the medical research company’s stock after purchasing an additional 54,364 shares during the quarter. Segall Bryant & Hamill LLC owned approximately 0.43% of RadNet worth $18,177,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in RDNT. Beck Mack & Oliver LLC boosted its stake in shares of RadNet by 6.9% in the 1st quarter. Beck Mack & Oliver LLC now owns 3,280,449 shares of the medical research company’s stock valued at $163,104,000 after purchasing an additional 211,570 shares during the last quarter. Allspring Global Investments Holdings LLC lifted its holdings in RadNet by 6.6% in the second 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 buying an additional 112,284 shares during the period. T. Rowe Price Investment Management Inc. boosted its position in RadNet by 81.4% during the first quarter. T. Rowe Price Investment Management Inc. now owns 1,657,613 shares of the medical research company’s stock valued at $82,417,000 after acquiring an additional 743,922 shares during the last quarter. Geode Capital Management LLC boosted its position in RadNet by 2.3% during the second quarter. Geode Capital Management LLC now owns 1,640,188 shares of the medical research company’s stock valued at $93,354,000 after acquiring an additional 37,403 shares during the last quarter. Finally, American Century Companies Inc. grew its holdings in RadNet by 507.9% during the 1st quarter. American Century Companies Inc. now owns 1,272,928 shares of the medical research company’s stock worth $63,290,000 after acquiring an additional 1,063,516 shares during the period. Institutional investors own 77.90% of the company’s stock.

Analyst Ratings Changes

RDNT has been the subject of several recent analyst reports. Morgan Stanley raised RadNet to an “overweight” rating in a research note on Monday, August 11th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of RadNet in a research report on Wednesday. Barclays lifted their price objective on shares of RadNet from $79.00 to $86.00 and gave the company an “overweight” rating in a research note on Thursday, November 13th. Raymond James Financial reissued a “strong-buy” rating and set a $95.00 target price on shares of RadNet in a research note on Friday, November 14th. Finally, Wall Street Zen upgraded shares of RadNet from a “sell” rating to a “hold” rating in a report on Saturday, August 16th. Two equities research analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, RadNet currently has a consensus rating of “Moderate Buy” and an average price target of $84.00.

RadNet Stock Performance

Shares of RDNT stock opened at $83.00 on Friday. 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 firm has a 50-day moving average of $77.29 and a 200-day moving average of $66.30. RadNet, Inc. has a one year low of $45.00 and a one year high of $85.42. The company has a market cap of $6.40 billion, a P/E ratio of -414.98 and a beta of 1.58.

RadNet (NASDAQ:RDNT) last released its quarterly earnings results on Sunday, November 9th. The medical research company reported $0.20 earnings per share for the quarter, missing the consensus estimate of $0.23 by ($0.03). The firm had revenue of $522.87 million for the quarter, compared to analysts’ expectations of $494.19 million. RadNet had a positive return on equity of 2.41% and a negative net margin of 0.78%.The firm’s revenue for the quarter was up 13.4% compared to the same quarter last year. During the same quarter last year, the firm posted $0.18 earnings per share. Equities research analysts forecast that RadNet, Inc. will post 0.56 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, COO Norman R. Hames sold 10,000 shares of the firm’s stock in a transaction on Wednesday, September 10th. The stock was sold at an average price of $72.74, for a total transaction of $727,400.00. Following the completion of the sale, the chief operating officer directly owned 239,183 shares of the company’s stock, valued at $17,398,171.42. This trade represents a 4.01% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Mark Stolper sold 35,000 shares of RadNet stock in a transaction on Tuesday, September 16th. The stock was sold at an average price of $73.89, for a total value of $2,586,150.00. Following the sale, the executive vice president owned 68,012 shares in the company, valued at $5,025,406.68. The trade was a 33.98% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 101,000 shares of company stock valued at $7,643,364. 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.