Maryland State Retirement & Pension System Increases Position in RadNet, Inc. (NASDAQ:RDNT)

Maryland State Retirement & Pension System lifted its holdings in RadNet, Inc. (NASDAQ:RDNTFree Report) by 7.0% during the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 23,494 shares of the medical research company’s stock after buying an additional 1,532 shares during the period. Maryland State Retirement & Pension System’s holdings in RadNet were worth $1,120,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. State of Alaska Department of Revenue boosted its stake in shares of RadNet by 7.3% in the 1st quarter. State of Alaska Department of Revenue now owns 39,872 shares of the medical research company’s stock worth $1,940,000 after buying an additional 2,697 shares during the last quarter. Allspring Global Investments Holdings LLC boosted its stake in shares of RadNet by 18.9% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 496,632 shares of the medical research company’s stock worth $24,166,000 after buying an additional 78,857 shares during the last quarter. O ROURKE & COMPANY Inc purchased a new position in RadNet in the first quarter valued at approximately $245,000. Contravisory Investment Management Inc. lifted its stake in RadNet by 1,702.9% in the first quarter. Contravisory Investment Management Inc. now owns 6,220 shares of the medical research company’s stock valued at $303,000 after purchasing an additional 5,875 shares during the last quarter. Finally, Los Angeles Capital Management LLC purchased a new position in RadNet in the first quarter valued at approximately $218,000. Hedge funds and other institutional investors own 77.90% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently commented on RDNT shares. Jefferies Financial Group upped their price objective on RadNet from $47.00 to $58.00 and gave the company a “buy” rating in a research note on Friday, March 22nd. Truist Financial reiterated a “buy” rating and issued a $63.00 price objective (up previously from $55.00) on shares of RadNet in a research note on Wednesday, May 15th. Raymond James upped their price objective on RadNet from $50.00 to $60.00 and gave the company an “outperform” rating in a research note on Friday, May 10th. Finally, StockNews.com downgraded RadNet from a “hold” rating to a “sell” rating in a research note on Wednesday, May 15th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $57.25.

View Our Latest Research Report on RadNet

Insider Buying and Selling at RadNet

In other news, EVP David Jeffrey Katz sold 16,400 shares of the company’s stock in a transaction on Friday, June 7th. The shares were sold at an average price of $61.26, for a total value of $1,004,664.00. Following the transaction, the executive vice president now owns 65,441 shares of the company’s stock, valued at $4,008,915.66. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, Director Gregory E. Spurlock sold 7,167 shares of the company’s stock in a transaction on Monday, June 17th. The shares were sold at an average price of $59.75, for a total value of $428,228.25. Following the transaction, the director now owns 9,758 shares of the company’s stock, valued at $583,040.50. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, EVP David Jeffrey Katz sold 16,400 shares of the company’s stock in a transaction on Friday, June 7th. The stock was sold at an average price of $61.26, for a total transaction of $1,004,664.00. Following the completion of the transaction, the executive vice president now directly owns 65,441 shares in the company, valued at approximately $4,008,915.66. The disclosure for this sale can be found here. Insiders have sold 99,730 shares of company stock valued at $6,121,516 in the last 90 days. 5.12% of the stock is currently owned by company insiders.

RadNet Trading Up 0.6 %

Shares of RDNT stock opened at $59.63 on Friday. The company’s fifty day simple moving average is $57.35 and its two-hundred day simple moving average is $47.00. 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, Inc. has a 1 year low of $25.11 and a 1 year high of $64.06. The stock has a market capitalization of $4.41 billion, a price-to-earnings ratio of 198.77 and a beta of 1.75.

RadNet (NASDAQ:RDNTGet Free Report) last issued its earnings results on Wednesday, May 8th. The medical research company reported $0.07 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.09) by $0.16. RadNet had a net margin of 1.28% and a return on equity of 5.05%. The business had revenue of $431.70 million for the quarter, compared to analysts’ expectations of $421.72 million. During the same quarter in the previous year, the firm 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, analysts anticipate that RadNet, Inc. will post 0.59 earnings per share for the current year.

RadNet Profile

(Free Report)

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.

Read More

Want to see what other hedge funds are holding RDNT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for RadNet, Inc. (NASDAQ:RDNTFree Report).

Institutional Ownership by Quarter for RadNet (NASDAQ:RDNT)

Receive News & Ratings for RadNet Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for RadNet and related companies with MarketBeat.com's FREE daily email newsletter.