Zurcher Kantonalbank Zurich Cantonalbank Has $761,000 Stake in RadNet, Inc. (NASDAQ:RDNT)

Zurcher Kantonalbank Zurich Cantonalbank reduced its holdings in shares of RadNet, Inc. (NASDAQ:RDNT) by 38.8% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 12,912 shares of the medical research company’s stock after selling 8,196 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in RadNet were worth $761,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. SG Americas Securities LLC boosted its stake in RadNet by 8.7% during the first quarter. SG Americas Securities LLC now owns 3,637 shares of the medical research company’s stock worth $177,000 after acquiring an additional 291 shares in the last quarter. GAMMA Investing LLC boosted its position in shares of RadNet by 74.7% during the 2nd quarter. GAMMA Investing LLC now owns 865 shares of the medical research company’s stock worth $51,000 after purchasing an additional 370 shares in the last quarter. Natixis Advisors L.P. grew its stake 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 during the period. Mutual of America Capital Management LLC increased its position in RadNet by 6.2% in the 1st quarter. Mutual of America Capital Management LLC now owns 11,232 shares of the medical research company’s stock valued at $547,000 after buying an additional 656 shares in the last quarter. Finally, Nisa Investment Advisors LLC raised its stake in RadNet by 774.2% during the 2nd quarter. Nisa Investment Advisors LLC now owns 848 shares of the medical research company’s stock worth $50,000 after buying an additional 751 shares during the period. 77.90% of the stock is owned by institutional investors.

Insider Activity at RadNet

In other RadNet news, EVP Alma Gregory Sorensen sold 5,000 shares of the company’s stock in a transaction on Tuesday, June 11th. The stock was sold at an average price of $61.24, for a total value of $306,200.00. Following the completion of the transaction, the executive vice president now owns 1,249,205 shares in the company, valued at approximately $76,501,314.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other RadNet news, EVP Alma Gregory Sorensen sold 5,000 shares of the business’s stock in a transaction dated Tuesday, June 11th. The shares were sold at an average price of $61.24, for a total value of $306,200.00. Following the transaction, the executive vice president now directly owns 1,249,205 shares in the company, valued at $76,501,314.20. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, EVP Michael N. Murdock sold 15,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $62.78, for a total transaction of $941,700.00. Following the sale, the executive vice president now owns 48,144 shares of the company’s stock, valued at approximately $3,022,480.32. The disclosure for this sale can be found here. Over the last three months, insiders sold 114,730 shares of company stock valued at $7,063,216. 5.12% of the stock is owned by insiders.

RadNet Stock Performance

Shares of RDNT stock opened at $62.71 on Thursday. RadNet, Inc. has a one year low of $25.11 and a one year high of $66.57. The company has a market cap of $4.63 billion, a P/E ratio of 209.03 and a beta of 1.75. The firm has a 50-day moving average of $61.52 and a 200-day moving average of $54.69. The company has a debt-to-equity ratio of 0.92, a current ratio of 2.12 and a quick ratio of 2.12.

RadNet (NASDAQ:RDNT) last posted its quarterly earnings data on Wednesday, August 7th. The medical research company reported $0.16 EPS for the quarter, missing the consensus estimate of $0.17 by ($0.01). RadNet had a net margin of 0.58% and a return on equity of 4.30%. The firm had revenue of $459.70 million during the quarter, compared to analysts’ expectations of $438.53 million. During the same quarter last year, the business posted $0.24 EPS. The company’s quarterly revenue was up 13.9% on a year-over-year basis. Equities research analysts forecast that RadNet, Inc. will post 0.58 EPS for the current fiscal year.

Analyst Ratings Changes

A number of brokerages have commented on RDNT. Raymond James raised 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. Truist Financial upped their price objective on shares of RadNet from $63.00 to $70.00 and gave the stock a “buy” rating in a report on Monday, July 15th. StockNews.com cut shares of RadNet from a “hold” rating to a “sell” rating in a report on Wednesday, May 15th. Jefferies Financial Group upped their target price on shares of RadNet from $61.00 to $75.00 and gave the stock a “buy” rating in a report on Thursday, July 11th. Finally, Barclays lifted their price target on RadNet from $51.00 to $57.00 and gave the company an “equal weight” rating in a research note on Thursday, August 8th. 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 stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $65.50.

About RadNet

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.