9,158 Shares in RadNet, Inc. (NASDAQ:RDNT) Purchased by Navellier & Associates Inc.

Navellier & Associates Inc. acquired a new position in shares of RadNet, Inc. (NASDAQ:RDNT) in the 4th quarter, according to its most recent filing with the SEC. The fund acquired 9,158 shares of the medical research company’s stock, valued at approximately $318,000.

A number of other hedge funds have also made changes to their positions in the company. First Eagle Investment Management LLC raised its stake in RadNet by 24.9% in the 4th quarter. First Eagle Investment Management LLC now owns 75,043 shares of the medical research company’s stock valued at $2,609,000 after purchasing an additional 14,950 shares during the last quarter. Moran Wealth Management LLC purchased a new position in shares of RadNet in the fourth quarter worth about $236,000. Principal Financial Group Inc. boosted its position in RadNet by 11.5% during the fourth quarter. Principal Financial Group Inc. now owns 1,290,582 shares of the medical research company’s stock worth $44,874,000 after acquiring an additional 133,221 shares during the last quarter. Dimensional Fund Advisors LP grew its stake in RadNet by 4.3% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,744,124 shares of the medical research company’s stock valued at $60,646,000 after acquiring an additional 71,714 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its stake in RadNet by 2.0% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 606,207 shares of the medical research company’s stock worth $21,078,000 after purchasing an additional 11,891 shares in the last quarter. Institutional investors and hedge funds own 77.90% of the company’s stock.

RadNet Trading Down 0.2 %

NASDAQ RDNT traded down $0.13 during trading hours on Friday, reaching $57.45. The company had a trading volume of 303,107 shares, compared to its average volume of 515,678. The company has a current ratio of 1.86, a quick ratio of 1.32 and a debt-to-equity ratio of 0.76. The stock has a market capitalization of $4.24 billion, a P/E ratio of 191.50 and a beta of 1.69. The stock has a 50-day moving average of $49.09 and a 200 day moving average of $40.33. RadNet, Inc. has a 1-year low of $25.11 and a 1-year high of $58.59.

RadNet (NASDAQ:RDNT) last issued its quarterly earnings data on Wednesday, May 8th. The medical research company reported $0.07 EPS for the quarter, topping the consensus estimate of ($0.09) by $0.16. RadNet had a net margin of 1.28% and a return on equity of 5.05%. The firm had revenue of $431.70 million for the quarter, compared to analyst estimates of $421.72 million. During the same period in the prior year, the business posted ($0.08) EPS. The business’s revenue for the quarter was up 10.5% compared to the same quarter last year. As a group, research analysts anticipate that RadNet, Inc. will post 0.59 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the company. Jefferies Financial Group upped their price target on RadNet from $47.00 to $58.00 and gave the company a “buy” rating in a research report on Friday, March 22nd. Truist Financial reiterated a “buy” rating and set a $63.00 price target (up previously from $55.00) on shares of RadNet in a report on Wednesday. Barclays started coverage on shares of RadNet in a report on Wednesday, March 6th. They issued an “equal weight” rating and a $48.00 price objective for the company. StockNews.com downgraded shares of RadNet from a “hold” rating to a “sell” rating in a research note on Wednesday. Finally, Raymond James increased their price target on shares of RadNet from $50.00 to $60.00 and gave the company an “outperform” rating in a research note on Friday, May 10th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, RadNet currently has an average rating of “Hold” and a consensus target price of $57.25.

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.