RadNet, Inc. (NASDAQ:RDNT) Shares Purchased by Whittier Trust Co. of Nevada Inc.

Whittier Trust Co. of Nevada Inc. grew its holdings in RadNet, Inc. (NASDAQ:RDNT) by 4.8% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 100,641 shares of the medical research company’s stock after acquiring an additional 4,587 shares during the quarter. Whittier Trust Co. of Nevada Inc.’s holdings in RadNet were worth $6,982,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of RDNT. Nisa Investment Advisors LLC raised its stake in shares of 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 purchasing an additional 751 shares during the last quarter. GAMMA Investing LLC lifted its stake in RadNet by 74.7% during the 2nd quarter. GAMMA Investing LLC now owns 865 shares of the medical research company’s stock valued at $51,000 after acquiring an additional 370 shares during the period. SG Americas Securities LLC boosted its holdings in shares of RadNet by 8.7% in the 1st quarter. SG Americas Securities LLC now owns 3,637 shares of the medical research company’s stock valued at $177,000 after acquiring an additional 291 shares during the last quarter. MQS Management LLC purchased a new stake in shares of RadNet in the 1st quarter valued at $207,000. Finally, Profund Advisors LLC acquired a new stake in shares of RadNet in the second quarter worth $207,000. Hedge funds and other institutional investors own 77.90% of the company’s stock.

Insider Buying and Selling at RadNet

In other RadNet news, EVP Michael N. Murdock sold 15,000 shares of the company’s stock in a transaction on 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 in the company, valued at $3,022,480.32. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 5.12% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have commented on RDNT. Barclays raised shares of RadNet from an “equal weight” rating to an “overweight” rating and upped their price target for the company from $57.00 to $79.00 in a report on Friday, September 6th. Truist Financial upped their target price on RadNet from $70.00 to $80.00 and gave the stock a “buy” rating in a research note on Monday, September 23rd. Jefferies Financial Group raised their target price on RadNet from $75.00 to $80.00 and gave the stock a “buy” rating in a report on Thursday, September 19th. Finally, Sidoti raised RadNet to a “strong-buy” rating in a report on Friday, October 4th. One investment analyst has rated the stock with a sell rating, four have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $74.75.

RadNet Price Performance

Shares of RadNet stock traded down $0.94 on Monday, hitting $67.22. The company’s stock had a trading volume of 189,261 shares, compared to its average volume of 551,114. The company has a market capitalization of $4.97 billion, a price-to-earnings ratio of 227.20 and a beta of 1.74. RadNet, Inc. has a 1 year low of $25.11 and a 1 year high of $72.18. The company has a debt-to-equity ratio of 0.92, a quick ratio of 2.12 and a current ratio of 2.12. The firm has a fifty day moving average price of $66.20 and a 200-day moving average price of $59.93.

RadNet (NASDAQ:RDNT) last announced its earnings results on Wednesday, August 7th. The medical research company reported $0.16 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.17 by ($0.01). The business had revenue of $459.70 million for the quarter, compared to analysts’ expectations of $438.53 million. RadNet had a net margin of 0.58% and a return on equity of 4.30%. The company’s quarterly revenue was up 13.9% on a year-over-year basis. During the same quarter last year, the business earned $0.24 EPS. As a group, sell-side analysts anticipate that RadNet, Inc. will post 0.6 earnings per share for the current fiscal year.

About RadNet

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.