Ensign Peak Advisors Inc Has $1.20 Million Holdings in RadNet, Inc. $RDNT

Ensign Peak Advisors Inc cut its position in shares of RadNet, Inc. (NASDAQ:RDNT) by 33.8% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 21,056 shares of the medical research company’s stock after selling 10,750 shares during the period. Ensign Peak Advisors Inc’s holdings in RadNet were worth $1,198,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in RDNT. Headlands Technologies LLC acquired a new position in RadNet in the first quarter worth approximately $28,000. BNP PARIBAS ASSET MANAGEMENT Holding S.A. acquired a new stake in RadNet in the second quarter valued at approximately $35,000. Family Legacy Financial Solutions LLC bought a new stake in RadNet in the second quarter worth approximately $85,000. Jones Financial Companies Lllp increased its stake in shares of RadNet by 563.4% during the 1st quarter. Jones Financial Companies Lllp now owns 1,705 shares of the medical research company’s stock worth $85,000 after purchasing an additional 1,448 shares during the last quarter. Finally, GAMMA Investing LLC raised its holdings in shares of RadNet by 41.5% during the 2nd quarter. GAMMA Investing LLC now owns 2,327 shares of the medical research company’s stock valued at $132,000 after purchasing an additional 683 shares in the last quarter. Institutional investors own 77.90% of the company’s stock.

Insider Activity at RadNet

In related news, EVP Mark Stolper sold 35,000 shares of the company’s stock in a transaction on Tuesday, September 16th. The shares were sold at an average price of $73.89, for a total transaction of $2,586,150.00. Following the completion of the transaction, the executive vice president directly owned 68,012 shares in the company, valued at $5,025,406.68. This represents a 33.98% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, COO Norman R. Hames sold 10,000 shares of the stock in a transaction on Wednesday, September 10th. The shares were 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 approximately $17,398,171.42. This trade represents a 4.01% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 96,000 shares of company stock worth $7,287,864. 5.60% of the stock is owned by insiders.

Analysts Set New Price Targets

RDNT has been the subject of a number of recent research reports. Truist Financial upped their price objective on shares of RadNet from $81.00 to $90.00 and gave the stock a “buy” rating in a report on Wednesday, November 12th. Morgan Stanley upgraded RadNet to an “overweight” rating in a research note on Monday, August 11th. Raymond James Financial reissued a “strong-buy” rating and issued a $95.00 price objective on shares of RadNet in a research note on Friday, November 14th. Wall Street Zen upgraded RadNet from a “sell” rating to a “hold” rating in a report on Saturday, August 16th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of RadNet in a report on Tuesday. Two analysts have rated the stock with a Strong Buy rating, four have given a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $84.00.

RadNet Trading Up 0.1%

RadNet stock opened at $82.85 on Friday. RadNet, Inc. has a 52 week low of $45.00 and a 52 week high of $85.84. The company has a debt-to-equity ratio of 0.91, a quick ratio of 2.00 and a current ratio of 2.00. The firm has a market capitalization of $6.39 billion, a PE ratio of -414.23 and a beta of 1.58. The business’s 50-day simple moving average is $78.05 and its 200-day simple moving average is $67.17.

RadNet (NASDAQ:RDNT) last released its earnings results on Monday, November 10th. The medical research company reported $0.20 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.03). The business had revenue of $522.87 million during the quarter, compared to analyst estimates of $494.19 million. RadNet had a negative net margin of 0.78% and a positive return on equity of 2.41%. The business’s quarterly revenue was up 13.4% compared to the same quarter last year. During the same period last year, the business earned $0.18 EPS. RadNet has set its FY 2025 guidance at EPS. Equities research analysts forecast that RadNet, Inc. will post 0.56 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.