Robotti Robert Purchases 1,070 Shares of RadNet, Inc. (NASDAQ:RDNT)

Robotti Robert raised its position in RadNet, Inc. (NASDAQ:RDNT) by 0.4% during the first quarter, according to its most recent filing with the SEC. The institutional investor owned 291,083 shares of the medical research company’s stock after purchasing an additional 1,070 shares during the period. RadNet accounts for approximately 1.9% of Robotti Robert’s portfolio, making the stock its 8th biggest holding. Robotti Robert owned approximately 0.39% of RadNet worth $14,164,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Cerity Partners LLC purchased a new stake in shares of RadNet in the fourth quarter valued at approximately $5,871,000. Vanguard Group Inc. raised its holdings in shares of RadNet by 0.8% during the 4th quarter. Vanguard Group Inc. now owns 4,254,717 shares of the medical research company’s stock worth $147,937,000 after acquiring an additional 32,483 shares during the period. RTW Investments LP purchased a new position in shares of RadNet during the 4th quarter worth $23,073,000. UniSuper Management Pty Ltd acquired a new position in shares of RadNet during the 1st quarter valued at about $683,000. Finally, Russell Investments Group Ltd. increased its position in RadNet by 103.4% during the first quarter. Russell Investments Group Ltd. now owns 249,898 shares of the medical research company’s stock worth $12,160,000 after purchasing an additional 127,039 shares during the last quarter. Institutional investors and hedge funds own 77.90% of the company’s stock.

RadNet Trading Down 1.6 %

Shares of RDNT traded down $1.01 during midday trading on Monday, hitting $60.97. 322,392 shares of the stock were exchanged, compared to its average volume of 543,294. The company has a debt-to-equity ratio of 0.76, a quick ratio of 1.86 and a current ratio of 1.86. The firm has a market cap of $4.50 billion, a P/E ratio of 203.23 and a beta of 1.75. RadNet, Inc. has a 52-week low of $25.11 and a 52-week high of $66.04. The stock has a fifty day simple moving average of $59.81 and a 200 day simple moving average of $50.09.

RadNet (NASDAQ:RDNT) last announced its earnings results on Wednesday, May 8th. The medical research company reported $0.07 EPS for the quarter, beating analysts’ consensus estimates of ($0.09) by $0.16. The company had revenue of $431.70 million during the quarter, compared to analysts’ expectations of $421.72 million. RadNet had a return on equity of 5.05% and a net margin of 1.28%. RadNet’s revenue for the quarter was up 10.5% on a year-over-year basis. During the same period last year, the business posted ($0.08) EPS. On average, research analysts anticipate that RadNet, Inc. will post 0.58 EPS for the current fiscal year.

Analyst Ratings Changes

Several research firms have weighed in on RDNT. Jefferies Financial Group boosted their target price on shares of RadNet from $61.00 to $75.00 and gave the company a “buy” rating in a report on Thursday, July 11th. Raymond James raised their target price on RadNet from $50.00 to $60.00 and gave the stock an “outperform” rating in a research note on Friday, May 10th. StockNews.com lowered RadNet from a “hold” rating to a “sell” rating in a research note on Wednesday, May 15th. Barclays raised their price objective on RadNet from $48.00 to $51.00 and gave the stock an “equal weight” rating in a research report on Wednesday, July 10th. Finally, Truist Financial upped their target price on shares of RadNet from $63.00 to $70.00 and gave the company a “buy” rating in a research report on Monday, July 15th. One analyst has rated the stock with a sell rating, one has given a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, RadNet currently has a consensus rating of “Hold” and an average target price of $64.00.

Insider Buying and Selling at RadNet

In related news, Director Christine Nayoma Gordon sold 3,000 shares of RadNet stock in a transaction on Friday, June 7th. The stock was sold at an average price of $61.30, for a total value of $183,900.00. Following the completion of the transaction, the director now directly owns 12,379 shares in the company, valued at $758,832.70. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, Director Christine Nayoma Gordon sold 3,000 shares of the company’s stock in a transaction that occurred on Friday, June 7th. The shares were sold at an average price of $61.30, for a total transaction of $183,900.00. Following the sale, the director now directly owns 12,379 shares in the company, valued at $758,832.70. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Lawrence L. Levitt sold 4,000 shares of RadNet stock in a transaction that occurred on Friday, June 14th. The stock was sold at an average price of $57.77, for a total transaction of $231,080.00. Following the completion of the transaction, the director now owns 172,657 shares of the company’s stock, valued at approximately $9,974,394.89. The disclosure for this sale can be found here. Insiders sold 99,730 shares of company stock valued at $6,121,516 in the last 90 days. Company insiders own 5.12% of the company’s stock.

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.