Hilton Capital Management LLC Buys 19,285 Shares of RadNet, Inc. $RDNT

Hilton Capital Management LLC increased its position in RadNet, Inc. (NASDAQ:RDNT) by 53.0% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 55,672 shares of the medical research company’s stock after acquiring an additional 19,285 shares during the quarter. Hilton Capital Management LLC owned about 0.07% of RadNet worth $3,168,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. BNP PARIBAS ASSET MANAGEMENT Holding S.A. bought a new stake in RadNet during the second quarter worth about $35,000. Family Legacy Financial Solutions LLC bought a new stake in RadNet in the 2nd quarter worth approximately $85,000. Neo Ivy Capital Management purchased a new stake in RadNet in the second quarter worth approximately $88,000. Jones Financial Companies Lllp grew its position in RadNet by 563.4% during the first quarter. Jones Financial Companies Lllp now owns 1,705 shares of the medical research company’s stock valued at $85,000 after acquiring an additional 1,448 shares during the last quarter. Finally, GAMMA Investing LLC raised its stake in shares of RadNet by 41.5% during the second quarter. GAMMA Investing LLC now owns 2,327 shares of the medical research company’s stock worth $132,000 after acquiring an additional 683 shares in the last quarter. Institutional investors own 77.90% of the company’s stock.

RadNet Trading Down 6.0%

NASDAQ RDNT opened at $73.94 on Friday. The stock has a market cap of $5.70 billion, a P/E ratio of -434.92 and a beta of 1.49. RadNet, Inc. has a fifty-two week low of $45.00 and a fifty-two week high of $85.84. The stock has a 50 day simple moving average of $78.36 and a two-hundred day simple moving average of $68.48. The company has a debt-to-equity ratio of 0.82, a quick ratio of 1.87 and a current ratio of 1.87.

RadNet (NASDAQ:RDNT) last announced its earnings results on Monday, November 10th. The medical research company reported $0.20 EPS for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.03). RadNet had a negative net margin of 0.65% and a positive return on equity of 2.52%. The business had revenue of $522.87 million for the quarter, compared to the consensus estimate of $494.19 million. During the same quarter in the prior year, the company earned $0.18 EPS. RadNet’s revenue was up 13.4% compared to the same quarter last year. On average, analysts forecast that RadNet, Inc. will post 0.56 earnings per share for the current year.

Insider Activity

In related news, EVP Mark Stolper sold 35,000 shares of the stock in a transaction dated Tuesday, September 16th. The shares were sold at an average price of $73.89, for a total value of $2,586,150.00. Following the completion of the transaction, the executive vice president directly owned 68,012 shares of the company’s stock, valued at $5,025,406.68. This represents a 33.98% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CAO Mital Patel sold 15,080 shares of RadNet stock in a transaction that occurred on Wednesday, November 19th. The shares were sold at an average price of $80.05, for a total value of $1,207,154.00. Following the sale, the chief accounting officer directly owned 180,138 shares in the company, valued at approximately $14,420,046.90. The trade was a 7.72% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 85,000 shares of company stock valued at $6,488,404. Corporate insiders own 5.60% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on RDNT shares. Zacks Research cut shares of RadNet from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, November 12th. Barclays upped their price target on shares of RadNet from $79.00 to $86.00 and gave the company an “overweight” rating in a research report on Thursday, November 13th. Truist Financial lifted their price objective on RadNet from $81.00 to $90.00 and gave the stock a “buy” rating in a report on Wednesday, November 12th. Weiss Ratings reissued a “sell (d-)” rating on shares of RadNet in a research note on Monday. Finally, Wall Street Zen upgraded RadNet from a “sell” rating to a “hold” rating in a research report on Saturday, August 16th. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $87.60.

RadNet Company 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.