Emerald Advisers LLC Sells 12,951 Shares of RadNet, Inc. $RDNT

Emerald Advisers LLC lessened its holdings in shares of RadNet, Inc. (NASDAQ:RDNT) by 3.3% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 381,764 shares of the medical research company’s stock after selling 12,951 shares during the quarter. Emerald Advisers LLC’s holdings in RadNet were worth $21,337,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Fifth Third Bancorp boosted its stake in shares of RadNet by 6,610.6% during the 1st quarter. Fifth Third Bancorp now owns 34,224 shares of the medical research company’s stock worth $1,913,000 after acquiring an additional 33,714 shares during the period. Whittier Trust Co. of Nevada Inc. lifted its holdings in RadNet by 3.6% during the 1st quarter. Whittier Trust Co. of Nevada Inc. now owns 121,167 shares of the medical research company’s stock valued at $6,671,000 after purchasing an additional 4,253 shares during the last quarter. Whittier Trust Co. lifted its holdings in RadNet by 10.1% during the 1st quarter. Whittier Trust Co. now owns 241,509 shares of the medical research company’s stock valued at $13,297,000 after purchasing an additional 22,216 shares during the last quarter. Steigerwald Gordon & Koch Inc. boosted its position in RadNet by 14.7% during the first quarter. Steigerwald Gordon & Koch Inc. now owns 10,665 shares of the medical research company’s stock worth $596,000 after purchasing an additional 1,370 shares during the period. Finally, Leonteq Securities AG boosted its position in RadNet by 4,651.2% during the first quarter. Leonteq Securities AG now owns 2,043 shares of the medical research company’s stock worth $114,000 after purchasing an additional 2,000 shares during the period. Institutional investors own 77.90% of the company’s stock.

Insider Transactions at RadNet

In other news, Director David L. Swartz sold 2,699 shares of the firm’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 transaction of $145,449.11. Following the transaction, the director directly owned 177,013 shares of the company’s stock, valued at approximately $9,539,230.57. This trade represents a 1.50% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Cornelis Wesdorp sold 4,750 shares of RadNet 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 completion of the sale, the chief executive officer owned 69,075 shares of the company’s stock, valued at approximately $4,013,948.25. The trade was a 6.43% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 5.60% of the company’s stock.

RadNet Stock Down 3.5%

RDNT stock opened at $63.31 on Tuesday. The company has a debt-to-equity ratio of 0.79, a current ratio of 1.17 and a quick ratio of 1.17. The stock has a market capitalization of $4.98 billion, a price-to-earnings ratio of -351.70 and a beta of 1.37. The business’s fifty day moving average price is $57.67 and its two-hundred day moving average price is $62.99. RadNet, Inc. has a fifty-two week low of $50.76 and a fifty-two week high of $85.84.

RadNet (NASDAQ:RDNT) last posted its earnings results on Monday, May 11th. The medical research company reported ($0.28) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.14) by ($0.14). RadNet had a positive return on equity of 2.77% and a negative net margin of 0.66%.The firm had revenue of $575.63 million for the quarter, compared to analyst estimates of $557.93 million. During the same period in the prior year, the business posted ($0.50) EPS. The firm’s quarterly revenue was up 22.1% compared to the same quarter last year. On average, equities analysts anticipate that RadNet, Inc. will post 0.54 earnings per share for the current year.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the stock. Weiss Ratings lowered shares of RadNet from a “sell (d)” rating to a “sell (d-)” rating in a research report on Tuesday, May 12th. Barclays cut their price objective on shares of RadNet from $70.00 to $65.00 and set an “overweight” rating for the company in a research report on Wednesday, May 20th. Two investment analysts have rated the stock with a Strong Buy rating, six have given a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $87.43.

RadNet Company 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.