Cerity Partners LLC Acquires Shares of 168,864 RadNet, Inc. (NASDAQ:RDNT)

Cerity Partners LLC acquired a new stake in shares of RadNet, Inc. (NASDAQ:RDNT) in the 4th quarter, HoldingsChannel reports. The institutional investor acquired 168,864 shares of the medical research company’s stock, valued at approximately $5,871,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Yorktown Management & Research Co Inc bought a new position in shares of RadNet in the fourth quarter worth $678,000. Raymond James Financial Services Advisors Inc. boosted its holdings in shares of RadNet by 38.2% in the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 15,727 shares of the medical research company’s stock worth $547,000 after acquiring an additional 4,350 shares during the period. Vanguard Group Inc. boosted its holdings in shares of RadNet by 3.5% in the third quarter. Vanguard Group Inc. now owns 4,222,234 shares of the medical research company’s stock worth $119,025,000 after acquiring an additional 143,295 shares during the period. Teachers Retirement System of The State of Kentucky boosted its holdings in shares of RadNet by 273.3% in the third quarter. Teachers Retirement System of The State of Kentucky now owns 59,175 shares of the medical research company’s stock worth $1,668,000 after acquiring an additional 43,324 shares during the period. Finally, Wellington Management Group LLP bought a new position in shares of RadNet in the third quarter worth $17,534,000. 77.90% of the stock is owned by institutional investors.

RadNet Trading Up 0.2 %

Shares of RDNT stock opened at $47.89 on Wednesday. The business’s fifty day moving average is $43.94 and its 200 day moving average is $36.86. RadNet, Inc. has a 52-week low of $25.11 and a 52-week high of $49.94. The company has a debt-to-equity ratio of 1.00, a quick ratio of 1.32 and a current ratio of 1.32. The company has a market capitalization of $3.28 billion, a PE ratio of -2,393.30 and a beta of 1.69.

RadNet (NASDAQ:RDNT) last released its quarterly earnings results on Friday, March 1st. The medical research company reported $0.20 earnings per share for the quarter, beating analysts’ consensus estimates of $0.11 by $0.09. RadNet had a return on equity of 4.72% and a net margin of 0.19%. The business had revenue of $420.38 million for the quarter, compared to the consensus estimate of $410.11 million. During the same quarter last year, the business posted $0.11 earnings per share. The company’s revenue for the quarter was up 9.5% on a year-over-year basis. On average, equities research analysts anticipate that RadNet, Inc. will post 0.35 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the company. Barclays assumed coverage on RadNet in a report on Wednesday, March 6th. They issued an “equal weight” rating and a $48.00 price target for the company. Jefferies Financial Group increased their price objective on RadNet from $47.00 to $58.00 and gave the stock a “buy” rating in a research report on Friday, March 22nd. StockNews.com downgraded RadNet from a “hold” rating to a “sell” rating in a research report on Thursday, April 11th. Finally, Truist Financial reiterated a “buy” rating and issued a $55.00 price objective (up previously from $51.00) on shares of RadNet in a research report on Thursday, March 28th.

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.