Van Berkom & Associates Inc. Boosts Stake in RadNet, Inc. $RDNT

Van Berkom & Associates Inc. boosted its stake in RadNet, Inc. (NASDAQ:RDNT) by 14,163.6% in the 3rd quarter, Holdings Channel reports. The firm owned 823,582 shares of the medical research company’s stock after purchasing an additional 817,808 shares during the period. Van Berkom & Associates Inc.’s holdings in RadNet were worth $62,765,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in RDNT. Jones Financial Companies Lllp grew its stake in shares of RadNet by 62.2% in the third quarter. Jones Financial Companies Lllp now owns 446 shares of the medical research company’s stock valued at $34,000 after buying an additional 171 shares in the last quarter. Zions Bancorporation National Association UT boosted its holdings in 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 valued at $1,996,000 after acquiring an additional 204 shares during the period. Amalgamated Bank grew its position in RadNet by 1.2% in the 2nd quarter. Amalgamated Bank now owns 18,820 shares of the medical research company’s stock valued at $1,071,000 after acquiring an additional 224 shares in the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd increased its stake in 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 during the period. Finally, GAMMA Investing LLC increased its stake in RadNet by 11.6% during the third quarter. GAMMA Investing LLC now owns 2,596 shares of the medical research company’s stock worth $198,000 after purchasing an additional 269 shares during the period. 77.90% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, CAO Mital Patel sold 15,080 shares of the business’s stock in a transaction that occurred on 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 completion of the sale, the chief accounting officer owned 180,138 shares in the company, valued at approximately $14,420,046.90. The trade was a 7.72% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders have sold a total of 50,000 shares of company stock worth $3,902,254 over the last 90 days. 5.60% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the stock. Weiss Ratings reissued a “sell (d-)” rating on shares of RadNet in a research note on Monday, December 29th. KeyCorp raised shares of RadNet to a “strong-buy” rating in a research report on Friday, January 9th. The Goldman Sachs Group raised RadNet to a “buy” rating in a research report on Tuesday, December 16th. B. Riley lifted their target price on RadNet from $71.00 to $87.00 and gave the company a “buy” rating in a report on Monday, December 1st. Finally, Raymond James Financial reissued a “strong-buy” rating on shares of RadNet in a research note on Thursday, December 18th. 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 given a Sell rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $90.33.

RadNet Stock Down 1.1%

Shares of NASDAQ RDNT opened at $70.11 on Wednesday. The business has a 50-day moving average of $74.57 and a two-hundred day moving average of $72.85. The company has a market capitalization of $5.41 billion, a price-to-earnings ratio of -412.39 and a beta of 1.49. RadNet, Inc. has a 1 year low of $45.00 and a 1 year high of $85.84. The company has a debt-to-equity ratio of 0.82, a current ratio of 1.87 and a quick ratio of 1.87.

RadNet (NASDAQ:RDNT) last released 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 business had revenue of $522.87 million during the quarter, compared to analysts’ expectations of $494.19 million. RadNet had a negative net margin of 0.65% and a positive return on equity of 2.52%. The company’s revenue was up 13.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.18 EPS. On average, analysts forecast that RadNet, Inc. will post 0.56 earnings per share for the current fiscal 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.