Rathbones Group PLC Purchases 2,169 Shares of RadNet, Inc. (NASDAQ:RDNT)

Rathbones Group PLC boosted its stake in shares of RadNet, Inc. (NASDAQ:RDNT) by 2.0% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 110,012 shares of the medical research company’s stock after buying an additional 2,169 shares during the period. Rathbones Group PLC owned approximately 0.15% of RadNet worth $6,482,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in RDNT. Nisa Investment Advisors LLC raised its holdings in RadNet by 774.2% in the second quarter. Nisa Investment Advisors LLC now owns 848 shares of the medical research company’s stock worth $50,000 after buying an additional 751 shares during the last quarter. GAMMA Investing LLC raised its stake in shares of RadNet by 74.7% in the second quarter. GAMMA Investing LLC now owns 865 shares of the medical research company’s stock worth $51,000 after purchasing an additional 370 shares during the last quarter. Assetmark Inc. lifted its holdings in shares of RadNet by 35.2% during the fourth quarter. Assetmark Inc. now owns 3,183 shares of the medical research company’s stock valued at $111,000 after purchasing an additional 829 shares in the last quarter. SG Americas Securities LLC increased its holdings in RadNet by 8.7% in the 1st quarter. SG Americas Securities LLC now owns 3,637 shares of the medical research company’s stock worth $177,000 after buying an additional 291 shares in the last quarter. Finally, MQS Management LLC purchased a new position in RadNet in the 1st quarter worth about $207,000. Hedge funds and other institutional investors own 77.90% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on RDNT shares. Barclays upgraded shares of RadNet from an “equal weight” rating to an “overweight” rating and lifted their price target for the stock from $57.00 to $79.00 in a research note on Friday, September 6th. Truist Financial boosted their target price on shares of RadNet from $63.00 to $70.00 and gave the company a “buy” rating in a research note on Monday, July 15th. Finally, Jefferies Financial Group increased their price target on RadNet from $61.00 to $75.00 and gave the company a “buy” rating in a report on Thursday, July 11th. One investment analyst has rated the stock with a sell rating and four have assigned a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $71.00.

Insiders Place Their Bets

In other news, EVP Michael N. Murdock sold 15,000 shares of RadNet stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $62.78, for a total transaction of $941,700.00. Following the transaction, the executive vice president now directly owns 48,144 shares of the company’s stock, valued at approximately $3,022,480.32. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 5.12% of the company’s stock.

RadNet Stock Performance

RDNT opened at $67.79 on Monday. The company’s 50 day moving average is $62.12 and its 200 day moving average is $56.04. The company has a current ratio of 2.12, a quick ratio of 2.12 and a debt-to-equity ratio of 0.92. The company has a market cap of $5.01 billion, a price-to-earnings ratio of 225.97 and a beta of 1.74. RadNet, Inc. has a 12-month low of $25.11 and a 12-month high of $69.60.

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

RadNet 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.