Universal Beteiligungs und Servicegesellschaft mbH Grows Position in RadNet, Inc. $RDNT

Universal Beteiligungs und Servicegesellschaft mbH increased its holdings in RadNet, Inc. (NASDAQ:RDNT) by 18.9% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 55,004 shares of the medical research company’s stock after buying an additional 8,737 shares during the period. Universal Beteiligungs und Servicegesellschaft mbH owned about 0.07% of RadNet worth $4,192,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also bought and sold shares of RDNT. Zions Bancorporation National Association UT raised its stake in shares of RadNet by 0.6% during the 2nd quarter. Zions Bancorporation National Association UT now owns 35,081 shares of the medical research company’s stock worth $1,996,000 after acquiring an additional 204 shares in the last quarter. Amalgamated Bank grew its holdings in RadNet by 1.2% in the second quarter. Amalgamated Bank now owns 18,820 shares of the medical research company’s stock worth $1,071,000 after purchasing an additional 224 shares during the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd increased its position in shares of RadNet by 4.4% during the third quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 6,286 shares of the medical research company’s stock worth $479,000 after purchasing an additional 265 shares in the last quarter. GAMMA Investing LLC lifted its holdings in shares of RadNet by 11.6% during the 3rd quarter. GAMMA Investing LLC now owns 2,596 shares of the medical research company’s stock valued at $198,000 after purchasing an additional 269 shares during the last quarter. Finally, AQR Capital Management LLC boosted its position in shares of RadNet by 5.4% in the 1st quarter. AQR Capital Management LLC now owns 6,846 shares of the medical research company’s stock worth $340,000 after purchasing an additional 350 shares in the last quarter. Institutional investors own 77.90% of the company’s stock.

RadNet Trading Down 2.2%

Shares of RadNet stock opened at $72.50 on Wednesday. The company has a debt-to-equity ratio of 0.82, a current ratio of 1.87 and a quick ratio of 1.87. The stock’s 50 day simple moving average is $75.70 and its 200-day simple moving average is $72.38. The stock has a market cap of $5.59 billion, a P/E ratio of -426.45 and a beta of 1.51. RadNet, Inc. has a 1-year low of $45.00 and a 1-year high of $85.84.

RadNet (NASDAQ:RDNT) last announced its quarterly earnings data on Monday, November 10th. The medical research company reported $0.20 EPS for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.03). The company had revenue of $522.87 million for the quarter, compared to analysts’ expectations of $494.19 million. RadNet had a positive return on equity of 2.52% and a negative net margin of 0.65%.The business’s quarterly revenue was up 13.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.18 EPS. Analysts predict that RadNet, Inc. will post 0.56 EPS for the current fiscal year.

Wall Street Analyst Weigh In

RDNT has been the subject of a number of research analyst reports. Barclays increased their price target on RadNet from $79.00 to $86.00 and gave the company an “overweight” rating in a research note on Thursday, November 13th. Truist Financial set a $90.00 price objective on shares of RadNet in a research report on Wednesday, December 17th. UBS Group set a $92.00 target price on shares of RadNet in a research note on Friday, January 9th. Raymond James Financial restated a “strong-buy” rating on shares of RadNet in a research note on Thursday, December 18th. Finally, Zacks Research cut shares of RadNet from a “strong-buy” rating to a “hold” rating in a report on Wednesday, November 12th. Two equities research 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 assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $90.33.

Insider Transactions at RadNet

In other RadNet news, CAO Mital Patel sold 15,080 shares of RadNet stock in a transaction dated Wednesday, November 19th. The shares were sold at an average price of $80.05, for a total transaction of $1,207,154.00. Following the transaction, the chief accounting officer directly owned 180,138 shares of the company’s stock, valued at $14,420,046.90. The trade was a 7.72% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders have sold 50,000 shares of company stock worth $3,902,254 in the last ninety days. 5.60% of the stock is currently owned by company insiders.

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.