RadNet, Inc. (NASDAQ:RDNT) Position Boosted by Steigerwald Gordon & Koch Inc.

Steigerwald Gordon & Koch Inc. boosted its holdings in RadNet, Inc. (NASDAQ:RDNT) by 153.9% during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 15,470 shares of the medical research company’s stock after acquiring an additional 9,376 shares during the period. Steigerwald Gordon & Koch Inc.’s holdings in RadNet were worth $911,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of RDNT. Victory Capital Management Inc. boosted its stake in shares of RadNet by 193.7% during the 4th quarter. Victory Capital Management Inc. now owns 256,039 shares of the medical research company’s stock valued at $8,902,000 after buying an additional 168,857 shares during the period. Natixis Advisors L.P. increased its stake in RadNet by 5.6% in the fourth quarter. Natixis Advisors L.P. now owns 11,789 shares of the medical research company’s stock valued at $409,000 after acquiring an additional 627 shares during the period. Charles Schwab Investment Management Inc. lifted its position in shares of RadNet by 2.0% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 606,207 shares of the medical research company’s stock worth $21,078,000 after purchasing an additional 11,891 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in RadNet by 4.3% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,744,124 shares of the medical research company’s stock valued at $60,646,000 after buying an additional 71,714 shares during the period. Finally, Principal Financial Group Inc. lifted its holdings in RadNet by 11.5% in the fourth quarter. Principal Financial Group Inc. now owns 1,290,582 shares of the medical research company’s stock valued at $44,874,000 after buying an additional 133,221 shares during the period. Institutional investors own 77.90% of the company’s stock.

Insider Activity

In other news, COO Norman R. Hames sold 18,597 shares of the firm’s stock in a transaction dated Wednesday, June 12th. The stock was sold at an average price of $63.08, for a total value of $1,173,098.76. Following the completion of the transaction, the chief operating officer now directly owns 227,322 shares in the company, valued at $14,339,471.76. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, Director David L. Swartz sold 4,066 shares of the stock in a transaction dated Wednesday, June 12th. The stock was sold at an average price of $62.42, for a total transaction of $253,799.72. Following the transaction, the director now owns 196,476 shares of the company’s stock, valued at approximately $12,264,031.92. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, COO Norman R. Hames sold 18,597 shares of the firm’s stock in a transaction dated Wednesday, June 12th. The stock was sold at an average price of $63.08, for a total value of $1,173,098.76. Following the sale, the chief operating officer now directly owns 227,322 shares in the company, valued at approximately $14,339,471.76. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 48,830 shares of company stock worth $3,027,907. Company insiders own 5.12% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have commented on RDNT. StockNews.com downgraded shares of RadNet from a “hold” rating to a “sell” rating in a research note on Wednesday, May 15th. Barclays raised shares of RadNet from an “equal weight” rating to an “overweight” rating and lifted their price objective for the company from $57.00 to $79.00 in a research report on Friday. Jefferies Financial Group lifted their target price on shares of RadNet from $61.00 to $75.00 and gave the stock a “buy” rating in a report on Thursday, July 11th. Finally, Truist Financial boosted their price objective on shares of RadNet from $63.00 to $70.00 and gave the company a “buy” rating in a report on Monday, July 15th. One research analyst has rated the stock with a sell rating and four have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $71.00.

RadNet Stock Performance

NASDAQ:RDNT traded up $0.55 on Tuesday, reaching $61.40. 9,295 shares of the company’s stock were exchanged, compared to its average volume of 542,693. The stock has a fifty day simple moving average of $61.67 and a 200-day simple moving average of $55.15. The company has a debt-to-equity ratio of 0.92, a current ratio of 2.12 and a quick ratio of 2.12. RadNet, Inc. has a 52 week low of $25.11 and a 52 week high of $67.93. The firm has a market cap of $4.54 billion, a price-to-earnings ratio of 202.83 and a beta of 1.74.

RadNet (NASDAQ:RDNT) last announced its quarterly earnings results on Wednesday, August 7th. The medical research company reported $0.16 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.17 by ($0.01). The firm had revenue of $459.70 million during the quarter, compared to the consensus estimate of $438.53 million. RadNet had a return on equity of 4.30% and a net margin of 0.58%. The business’s revenue for the quarter was up 13.9% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.24 EPS. As a group, sell-side analysts predict that RadNet, Inc. will post 0.58 earnings per share for the current year.

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.