15,674 Shares in RadNet, Inc. $RDNT Bought by Nations Financial Group Inc. IA ADV

Nations Financial Group Inc. IA ADV purchased a new position in shares of RadNet, Inc. (NASDAQ:RDNT) in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm purchased 15,674 shares of the medical research company’s stock, valued at approximately $1,118,000.

Other hedge funds have also recently modified their holdings of the company. Allworth Financial LP lifted its holdings in shares of RadNet by 346.6% during the third quarter. Allworth Financial LP now owns 393 shares of the medical research company’s stock worth $30,000 after purchasing an additional 305 shares during the period. Danske Bank A S acquired a new stake in shares of RadNet during the third quarter worth $30,000. Farther Finance Advisors LLC lifted its holdings in shares of RadNet by 1,086.5% during the third quarter. Farther Finance Advisors LLC now owns 439 shares of the medical research company’s stock worth $33,000 after purchasing an additional 402 shares during the period. Jones Financial Companies Lllp lifted its holdings in shares of RadNet by 62.2% during the third quarter. Jones Financial Companies Lllp now owns 446 shares of the medical research company’s stock worth $34,000 after purchasing an additional 171 shares during the period. Finally, Salomon & Ludwin LLC acquired a new stake in shares of RadNet during the third quarter worth $37,000. 77.90% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at RadNet

In other RadNet news, insider Alma Gregory Sorensen sold 15,000 shares of the stock in a transaction on Wednesday, March 18th. The stock was sold at an average price of $62.15, for a total value of $932,250.00. Following the completion of the transaction, the insider owned 1,208,923 shares in the company, valued at approximately $75,134,564.45. This represents a 1.23% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 5.60% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the company. UBS Group set a $92.00 price target on RadNet in a report on Friday, January 9th. KeyCorp upgraded RadNet to a “strong-buy” rating in a research report on Friday, January 9th. Weiss Ratings reiterated a “sell (d-)” rating on shares of RadNet in a research report on Monday, December 29th. Finally, Jefferies Financial Group reiterated a “buy” rating and issued a $91.00 price objective on shares of RadNet in a research report on Tuesday, March 3rd. Two equities research analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $90.43.

RadNet Trading Up 0.5%

NASDAQ:RDNT opened at $60.39 on Friday. The stock has a fifty day moving average price of $63.10 and a two-hundred day moving average price of $71.42. The stock has a market capitalization of $4.69 billion, a price-to-earnings ratio of -241.56 and a beta of 1.53. The company has a debt-to-equity ratio of 0.79, a quick ratio of 1.76 and a current ratio of 1.76. RadNet, Inc. has a 1 year low of $46.76 and a 1 year high of $85.84.

RadNet (NASDAQ:RDNT) last released its quarterly earnings data on Monday, March 2nd. The medical research company reported $0.23 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.19 by $0.04. The firm had revenue of $547.71 million during the quarter, compared to analysts’ expectations of $515.67 million. RadNet had a positive return on equity of 2.52% and a negative net margin of 0.91%.RadNet’s revenue was up 14.8% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.22 earnings per share. As a group, sell-side analysts anticipate that RadNet, Inc. will post 0.56 earnings per share for the current fiscal year.

About RadNet

RadNet, Inc is a leading independent provider of outpatient diagnostic imaging services in the United States. Through a nationwide network of fixed-site imaging centers and affiliated joint-venture locations, the company delivers a comprehensive suite of radiology services including MRI, CT, PET/CT, ultrasound, X-ray, mammography, bone densitometry, nuclear medicine and interventional radiology procedures. RadNet also offers teleradiology and imaging management solutions to physician practices, hospitals and healthcare systems.

Founded in 1981 and headquartered in Los Angeles, RadNet has expanded its footprint organically and through strategic acquisitions.