EFG International AG Purchases New Holdings in RadNet, Inc. $RDNT

EFG International AG purchased a new position in shares of RadNet, Inc. (NASDAQ:RDNT) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 54,436 shares of the medical research company’s stock, valued at approximately $3,357,000. EFG International AG owned 0.07% of RadNet at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. AQR Capital Management LLC increased its position in shares of RadNet by 5.4% during the 1st quarter. AQR Capital Management LLC now owns 6,846 shares of the medical research company’s stock valued at $340,000 after purchasing an additional 350 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in shares of RadNet by 4.5% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 39,341 shares of the medical research company’s stock worth $1,956,000 after buying an additional 1,699 shares during the last quarter. 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 buying an additional 1,448 shares during the period. United Services Automobile Association bought a new position in RadNet during the first quarter valued at about $216,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in RadNet by 2.0% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 440,543 shares of the medical research company’s stock valued at $21,904,000 after buying an additional 8,762 shares during the period. Hedge funds and other institutional investors own 77.90% of the company’s stock.

Wall Street Analyst Weigh In

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

Insider Activity at RadNet

In other news, Director David L. Swartz sold 2,699 shares of the business’s stock in a transaction that occurred on Thursday, June 18th. The shares were sold at an average price of $53.89, for a total value of $145,449.11. Following the sale, the director owned 177,013 shares of the company’s stock, valued at $9,539,230.57. The trade was a 1.50% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Cornelis Wesdorp sold 4,750 shares of the company’s stock in a transaction that occurred on Tuesday, June 16th. The shares were sold at an average price of $58.11, for a total transaction of $276,022.50. Following the sale, the chief executive officer owned 69,075 shares in the company, valued at $4,013,948.25. The trade was a 6.43% 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 Down 0.5%

Shares of RDNT opened at $76.47 on Thursday. The business has a 50-day moving average of $66.46 and a 200 day moving average of $62.16. RadNet, Inc. has a fifty-two week low of $50.82 and a fifty-two week high of $85.84. The firm has a market cap of $6.02 billion, a P/E ratio of -283.21 and a beta of 1.36. The company has a debt-to-equity ratio of 0.94, a quick ratio of 1.48 and a current ratio of 1.48.

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

RadNet 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.