Robotti Robert Purchases 1,070 Shares of RadNet, Inc. (NASDAQ:RDNT)

Robotti Robert lifted its position in shares of RadNet, Inc. (NASDAQ:RDNT) by 0.4% in the first quarter, Holdings Channel reports. The institutional investor owned 291,083 shares of the medical research company’s stock after acquiring an additional 1,070 shares during the period. RadNet makes up about 1.9% of Robotti Robert’s portfolio, making the stock its 8th largest position. Robotti Robert’s holdings in RadNet were worth $14,164,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. SG Americas Securities LLC grew its holdings in shares of RadNet by 8.7% during the 1st quarter. SG Americas Securities LLC now owns 3,637 shares of the medical research company’s stock worth $177,000 after purchasing an additional 291 shares in the last quarter. Natixis Advisors L.P. raised its position in shares of RadNet by 5.6% in the 4th quarter. Natixis Advisors L.P. now owns 11,789 shares of the medical research company’s stock valued at $409,000 after buying an additional 627 shares in the last quarter. Mutual of America Capital Management LLC lifted its holdings in shares of RadNet by 6.2% during the 1st quarter. Mutual of America Capital Management LLC now owns 11,232 shares of the medical research company’s stock worth $547,000 after acquiring an additional 656 shares during the period. Assetmark Inc. increased its stake in RadNet by 35.2% in the fourth quarter. Assetmark Inc. now owns 3,183 shares of the medical research company’s stock valued at $111,000 after acquiring an additional 829 shares during the last quarter. Finally, ProShare Advisors LLC lifted its stake in RadNet by 8.3% during the first quarter. ProShare Advisors LLC now owns 12,252 shares of the medical research company’s stock worth $596,000 after purchasing an additional 940 shares during the last quarter. Institutional investors own 77.90% of the company’s stock.

RadNet Trading Down 1.6 %

Shares of RadNet stock traded down $1.01 during midday trading on Monday, reaching $60.97. The company had a trading volume of 322,392 shares, compared to its average volume of 543,294. The stock has a fifty day moving average price of $59.81 and a 200 day moving average price of $50.09. RadNet, Inc. has a fifty-two week low of $25.11 and a fifty-two week high of $66.04. The firm has a market cap of $4.50 billion, a PE ratio of 203.23 and a beta of 1.75. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.86 and a quick ratio of 1.86.

RadNet (NASDAQ:RDNT) last released its earnings results 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 return on equity of 5.05% and a net margin of 1.28%. The business had revenue of $431.70 million during the quarter, compared to analysts’ expectations of $421.72 million. During the same quarter last year, the firm posted ($0.08) earnings per share. The firm’s revenue was up 10.5% on a year-over-year basis. On average, equities analysts anticipate that RadNet, Inc. will post 0.58 earnings per share for the current year.

Insider Activity at RadNet

In other news, COO Norman R. Hames sold 18,597 shares of the company’s stock in a transaction dated Wednesday, June 12th. The shares were sold at an average price of $63.08, for a total transaction of $1,173,098.76. Following the transaction, the chief operating officer now owns 227,322 shares in the company, valued at $14,339,471.76. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, COO Norman R. Hames sold 15,000 shares of RadNet stock in a transaction on Monday, June 10th. The shares were sold at an average price of $61.15, for a total value of $917,250.00. Following the completion of the sale, the chief operating officer now owns 280,919 shares of the company’s stock, valued at approximately $17,178,196.85. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, COO Norman R. Hames sold 18,597 shares of the company’s stock in a transaction on Wednesday, June 12th. The stock was sold at an average price of $63.08, for a total transaction of $1,173,098.76. Following the transaction, the chief operating officer now owns 227,322 shares in the company, valued at approximately $14,339,471.76. The disclosure for this sale can be found here. Insiders have sold 99,730 shares of company stock worth $6,121,516 in the last quarter. Company insiders own 5.12% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently commented on RDNT. Raymond James boosted their price target on RadNet from $50.00 to $60.00 and gave the stock an “outperform” rating in a report on Friday, May 10th. Barclays upped their price objective on shares of RadNet from $48.00 to $51.00 and gave the stock an “equal weight” rating in a research report on Wednesday, July 10th. Jefferies Financial Group raised their target price on shares of RadNet from $61.00 to $75.00 and gave the company a “buy” rating in a research report on Thursday, July 11th. StockNews.com lowered RadNet from a “hold” rating to a “sell” rating in a research report on Wednesday, May 15th. Finally, Truist Financial upped their price objective on RadNet from $63.00 to $70.00 and gave the company a “buy” rating in a research note on Monday, July 15th. One research analyst has rated the stock with a sell rating, one has given a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, RadNet presently has a consensus rating of “Hold” and a consensus price target of $64.00.

RadNet Company 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.