Swiss National Bank Purchases 900 Shares of RadNet, Inc. (NASDAQ:RDNT)

Swiss National Bank grew its position in shares of RadNet, Inc. (NASDAQ:RDNT) by 0.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 123,600 shares of the medical research company’s stock after purchasing an additional 900 shares during the period. Swiss National Bank’s holdings in RadNet were worth $8,632,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the company. HighTower Advisors LLC lifted its stake in shares of RadNet by 11.9% in the 4th quarter. HighTower Advisors LLC now owns 8,797 shares of the medical research company’s stock valued at $614,000 after acquiring an additional 936 shares during the last quarter. AGF Management Ltd. grew its holdings in shares of RadNet by 59.5% during the 4th quarter. AGF Management Ltd. now owns 238,035 shares of the medical research company’s stock worth $16,624,000 after acquiring an additional 88,795 shares during the period. Moran Wealth Management LLC grew its holdings in shares of RadNet by 4.3% during the 4th quarter. Moran Wealth Management LLC now owns 10,418 shares of the medical research company’s stock worth $728,000 after acquiring an additional 432 shares during the period. AlphaQuest LLC grew its holdings in shares of RadNet by 14,726.7% during the 4th quarter. AlphaQuest LLC now owns 2,224 shares of the medical research company’s stock worth $155,000 after acquiring an additional 2,209 shares during the period. Finally, PNC Financial Services Group Inc. grew its holdings in shares of RadNet by 22.2% during the 4th quarter. PNC Financial Services Group Inc. now owns 3,187 shares of the medical research company’s stock worth $223,000 after acquiring an additional 578 shares during the period. Institutional investors own 77.90% of the company’s stock.

RadNet Trading Down 0.9 %

Shares of RDNT stock opened at $49.25 on Friday. RadNet, Inc. has a 52-week low of $45.82 and a 52-week high of $93.65. The company has a debt-to-equity ratio of 0.89, a quick ratio of 2.16 and a current ratio of 2.16. The firm has a market capitalization of $3.65 billion, a PE ratio of -703.47 and a beta of 1.85. The stock has a fifty day simple moving average of $58.78 and a two-hundred day simple moving average of $67.46.

RadNet (NASDAQ:RDNT) last issued its quarterly earnings data on Thursday, February 27th. The medical research company reported $0.22 earnings per share for the quarter, beating analysts’ consensus estimates of $0.21 by $0.01. The firm had revenue of $477.10 million during the quarter, compared to analyst estimates of $459.42 million. RadNet had a positive return on equity of 4.29% and a negative net margin of 0.25%. On average, analysts predict that RadNet, Inc. will post 0.56 EPS for the current fiscal year.

Insider Buying and Selling

In related news, COO Norman R. Hames sold 5,000 shares of RadNet stock in a transaction dated Wednesday, March 19th. The stock was sold at an average price of $50.22, for a total value of $251,100.00. Following the completion of the transaction, the chief operating officer now owns 251,959 shares in the company, valued at approximately $12,653,380.98. This trade represents a 1.95 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Cornelis Wesdorp sold 1,000 shares of the firm’s stock in a transaction dated Friday, March 7th. The stock was sold at an average price of $50.52, for a total transaction of $50,520.00. Following the completion of the sale, the chief executive officer now directly owns 55,995 shares of the company’s stock, valued at approximately $2,828,867.40. The trade was a 1.75 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 38,000 shares of company stock worth $1,926,730. Corporate insiders own 5.12% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently weighed in on the company. Barclays cut their price target on RadNet from $85.00 to $74.00 and set an “overweight” rating on the stock in a research note on Wednesday, January 22nd. StockNews.com upgraded RadNet to a “sell” rating in a research note on Wednesday. Truist Financial reissued a “buy” rating and set a $88.00 price target (down from $94.00) on shares of RadNet in a report on Wednesday, January 22nd. Raymond James raised RadNet from an “outperform” rating to a “strong-buy” rating and lowered their price target for the company from $85.00 to $65.00 in a report on Wednesday, March 5th. Finally, Jefferies Financial Group decreased their target price on RadNet from $100.00 to $80.00 and set a “buy” rating on the stock in a report on Wednesday, January 15th. One research analyst has rated the stock with a sell rating, three have issued a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus target price of $76.75.

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.