RadNet, Inc. (NASDAQ:RDNT) Shares Acquired by Raymond James Financial Services Advisors Inc.

Raymond James Financial Services Advisors Inc. grew its stake in RadNet, Inc. (NASDAQ:RDNT) by 38.2% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 15,727 shares of the medical research company’s stock after acquiring an additional 4,350 shares during the quarter. Raymond James Financial Services Advisors Inc.’s holdings in RadNet were worth $547,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of RDNT. Tower Research Capital LLC TRC increased its stake in shares of RadNet by 84.3% in the 1st quarter. Tower Research Capital LLC TRC now owns 1,078 shares of the medical research company’s stock worth $27,000 after acquiring an additional 493 shares during the last quarter. UBS Group AG increased its stake in shares of RadNet by 48.8% in the 3rd quarter. UBS Group AG now owns 2,645 shares of the medical research company’s stock worth $54,000 after acquiring an additional 867 shares during the last quarter. Cubist Systematic Strategies LLC increased its stake in shares of RadNet by 180.8% in the 2nd quarter. Cubist Systematic Strategies LLC now owns 3,443 shares of the medical research company’s stock worth $59,000 after acquiring an additional 2,217 shares during the last quarter. Assetmark Inc. increased its stake in shares of RadNet by 51.6% in the 3rd quarter. Assetmark Inc. now owns 2,354 shares of the medical research company’s stock worth $66,000 after acquiring an additional 801 shares during the last quarter. Finally, Lazard Asset Management LLC acquired a new stake in shares of RadNet in the 3rd quarter worth $69,000. 77.90% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts recently issued reports on RDNT shares. Truist Financial reissued a “buy” rating and set a $55.00 price objective (up from $51.00) on shares of RadNet in a research report on Thursday, March 28th. Barclays started coverage on RadNet in a research report on Wednesday, March 6th. They set an “equal weight” rating and a $48.00 price objective for the company. StockNews.com downgraded RadNet from a “hold” rating to a “sell” rating in a research report on Thursday, April 11th. Finally, Jefferies Financial Group raised 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.

RadNet Stock Performance

Shares of RDNT opened at $47.61 on Friday. The stock has a 50-day simple moving average of $44.40 and a 200-day simple moving average of $37.07. 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 stock has a market capitalization of $3.26 billion, a PE ratio of -2,379.31 and a beta of 1.69. RadNet, Inc. has a 1 year low of $25.11 and a 1 year high of $49.94.

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

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.