19,000 Shares in RadNet, Inc. $RDNT Acquired by Edmond DE Rothschild Holding S.A.

Edmond DE Rothschild Holding S.A. purchased a new stake in shares of RadNet, Inc. (NASDAQ:RDNT) during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 19,000 shares of the medical research company’s stock, valued at approximately $1,172,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Geneos Wealth Management Inc. bought a new stake in shares of RadNet during the 4th quarter valued at $25,000. Allworth Financial LP boosted its holdings in RadNet by 346.6% in the 3rd quarter. Allworth Financial LP now owns 393 shares of the medical research company’s stock worth $30,000 after buying an additional 305 shares during the period. Danske Bank A S purchased a new stake in RadNet in the 3rd quarter worth $30,000. Eurizon Capital SGR S.p.A. bought a new stake in RadNet during the fourth quarter valued at about $36,000. Finally, Harbour Investments Inc. bought a new position in shares of RadNet in the fourth quarter worth about $42,000. 77.90% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, CEO Cornelis Wesdorp sold 4,750 shares of RadNet stock in a transaction dated Tuesday, June 16th. The shares were sold at an average price of $58.11, for a total transaction of $276,022.50. Following the completion of the transaction, the chief executive officer directly owned 69,075 shares of the company’s stock, valued at approximately $4,013,948.25. The trade was a 6.43% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director David L. Swartz sold 2,699 shares of the stock in a transaction dated Thursday, June 18th. The stock was sold at an average price of $53.89, for a total transaction of $145,449.11. Following the completion of the sale, the director directly owned 177,013 shares in the company, valued at $9,539,230.57. This trade represents a 1.50% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders own 5.14% of the company’s stock.

RadNet Trading Up 2.0%

Shares of RDNT stock opened at $77.05 on Friday. The company has a market cap of $6.06 billion, a PE ratio of -285.36 and a beta of 1.36. RadNet, Inc. has a 1 year low of $50.82 and a 1 year high of $85.84. The stock’s 50 day simple moving average is $64.82 and its two-hundred day simple moving average is $61.94. The company has a debt-to-equity ratio of 0.94, a current ratio of 1.48 and a quick ratio of 1.48.

RadNet (NASDAQ:RDNT) last released its earnings results on Monday, August 10th. The medical research company reported $0.29 earnings per share for the quarter, beating the consensus estimate of $0.20 by $0.09. RadNet had a positive return on equity of 2.61% and a negative net margin of 0.93%.The firm had revenue of $622.72 million for the quarter, compared to the consensus estimate of $610.87 million. During the same quarter in the previous year, the company posted $0.31 EPS. The company’s revenue for the quarter was up 25.0% compared to the same quarter last year. Research analysts predict that RadNet, Inc. will post 0.49 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research firms recently commented on RDNT. Truist Financial boosted their price target on RadNet from $90.00 to $94.00 and gave the stock a “buy” rating in a report on Tuesday, August 11th. Barclays dropped their target price on shares of RadNet from $70.00 to $65.00 and set an “overweight” rating for the company in a research report on Wednesday, May 20th. Weiss Ratings reiterated a “sell (d-)” rating on shares of RadNet in a research note on Friday, August 7th. Jefferies Financial Group reaffirmed a “buy” rating on shares of RadNet in a report on Friday, July 31st. Finally, Zacks Research upgraded RadNet from a “strong sell” rating to a “hold” rating in a report on Thursday, August 13th. Two investment analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $88.00.

RadNet Company Profile

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.