RadNet, Inc. $RDNT Stock Sold by E. Ohman J or Asset Management AB

E. Ohman J or Asset Management AB lowered its position in shares of RadNet, Inc. (NASDAQ:RDNT) by 12.2% in the third quarter, HoldingsChannel.com reports. The firm owned 397,856 shares of the medical research company’s stock after selling 55,110 shares during the quarter. E. Ohman J or Asset Management AB’s holdings in RadNet were worth $27,428,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Bank of America Corp DE lifted its holdings in RadNet by 15.1% during the 1st quarter. Bank of America Corp DE now owns 589,610 shares of the medical research company’s stock worth $32,953,000 after buying an additional 77,198 shares during the last quarter. Edmond DE Rothschild Holding S.A. acquired a new position in shares of RadNet during the 2nd quarter worth about $1,172,000. Legal & General Group Plc acquired a new position in shares of RadNet during the 2nd quarter worth about $9,787,000. California State Teachers Retirement System increased its holdings in shares of RadNet by 25.4% in the 1st quarter. California State Teachers Retirement System now owns 77,646 shares of the medical research company’s stock valued at $4,340,000 after acquiring an additional 15,746 shares during the last quarter. Finally, Van Berkom & Associates Inc. increased its holdings in shares of RadNet by 24.9% in the 1st quarter. Van Berkom & Associates Inc. now owns 1,028,586 shares of the medical research company’s stock valued at $57,488,000 after acquiring an additional 204,858 shares during the last quarter. Hedge funds and other institutional investors own 77.90% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on RDNT. Jefferies Financial Group reissued a “buy” rating on shares of RadNet in a research report on Friday, July 31st. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of RadNet in a report on Friday, August 7th. Barclays upped their price target on RadNet from $65.00 to $79.00 and gave the company an “overweight” rating in a report on Friday, August 28th. Zacks Research upgraded shares of RadNet from a “hold” rating to a “strong-buy” rating in a research note on Friday, October 9th. Finally, Truist Financial raised their price objective on shares of RadNet from $90.00 to $94.00 and gave the stock a “buy” rating in a report on Tuesday, August 11th. Three analysts have rated the stock with a Strong Buy rating, five have given a Buy rating and one has given a Sell rating to the stock. According to MarketBeat, the stock has an average rating of “Buy” and an average target price of $90.00.

RadNet Price Performance

Shares of RDNT opened at $70.26 on Friday. The company has a debt-to-equity ratio of 0.94, a current ratio of 1.48 and a quick ratio of 1.48. RadNet, Inc. has a 1-year low of $50.82 and a 1-year high of $85.84. The stock has a market cap of $5.53 billion, a PE ratio of 155.48 and a beta of 1.41. The firm has a fifty day moving average price of $72.92 and a 200 day moving average price of $64.33.

RadNet (NASDAQ:RDNT) last issued its quarterly earnings data on Monday, August 10th. The medical research company reported $0.29 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.20 by $0.09. RadNet had a positive return on equity of 2.61% and a negative net margin of 0.93%. The company had revenue of $622.72 million for the quarter, compared to analyst estimates of $610.87 million. During the same quarter last year, the company posted $0.31 earnings per share. The business’s quarterly revenue was up 25.0% compared to the same quarter last year. As a group, sell-side analysts anticipate that RadNet, Inc. will post 0.49 EPS for the current year.

RadNet Profile

RadNet, Inc (NASDAQ: RDNT) is an outpatient diagnostic imaging company that operates imaging centers and provides related healthcare services. Its facilities offer diagnostic radiology and imaging procedures used to help detect, diagnose, and monitor medical conditions.

The company’s services generally include magnetic resonance imaging (MRI), computed tomography (CT), positron emission tomography (PET), mammography, ultrasound, X-ray, and other imaging procedures. RadNet also provides image-guided and interventional radiology services in selected markets, along with digital imaging, radiology, and information-technology solutions.

Founded in 1981, RadNet serves patients, physicians, hospitals, and other healthcare organizations through a network of outpatient imaging centers primarily located in the United States, including markets in California, New York, New Jersey, Maryland, and Delaware.