Wealth Enhancement Advisory Services LLC Takes Position in RadNet, Inc. (NASDAQ:RDNT)

Wealth Enhancement Advisory Services LLC purchased a new position in shares of RadNet, Inc. (NASDAQ:RDNT) in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 5,603 shares of the medical research company’s stock, valued at approximately $389,000.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. AQR Capital Management LLC boosted its holdings in RadNet by 3.2% during the 2nd quarter. AQR Capital Management LLC now owns 5,131 shares of the medical research company’s stock worth $302,000 after acquiring an additional 160 shares during the last quarter. SG Americas Securities LLC boosted its holdings 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 purchasing an additional 291 shares during the last quarter. Hanseatic Management Services Inc. grew its position in RadNet by 1.8% in the 2nd quarter. Hanseatic Management Services Inc. now owns 19,968 shares of the medical research company’s stock worth $1,177,000 after purchasing an additional 353 shares in the last quarter. GAMMA Investing LLC increased its stake in RadNet by 74.7% in the 2nd quarter. GAMMA Investing LLC now owns 865 shares of the medical research company’s stock valued at $51,000 after buying an additional 370 shares during the last quarter. Finally, Sumitomo Mitsui DS Asset Management Company Ltd lifted its position in shares of RadNet by 6.0% during the 3rd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 7,087 shares of the medical research company’s stock worth $492,000 after buying an additional 399 shares in the last quarter. 77.90% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on RDNT shares. Jefferies Financial Group upped their target price on RadNet from $75.00 to $80.00 and gave the company a “buy” rating in a report on Thursday, September 19th. Truist Financial upped their price objective on RadNet from $70.00 to $80.00 and gave the company a “buy” rating in a research note on Monday, September 23rd. Sidoti upgraded RadNet to a “strong-buy” rating in a research note on Friday, October 4th. Finally, Barclays upgraded shares of RadNet from an “equal weight” rating to an “overweight” rating and increased their price target for the company from $57.00 to $79.00 in a research report on Friday, September 6th. One investment analyst has rated the stock with a sell rating, four have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $74.75.

Insiders Place Their Bets

In other news, EVP Michael N. Murdock sold 15,000 shares of RadNet stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $62.78, for a total value of $941,700.00. Following the completion of the transaction, the executive vice president now directly owns 48,144 shares in the company, valued at approximately $3,022,480.32. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 5.12% of the company’s stock.

RadNet Stock Up 1.6 %

Shares of NASDAQ RDNT opened at $72.53 on Friday. The company has a debt-to-equity ratio of 0.92, a current ratio of 2.12 and a quick ratio of 2.12. The stock has a market capitalization of $5.36 billion, a PE ratio of 518.07 and a beta of 1.75. RadNet, Inc. has a one year low of $28.27 and a one year high of $72.69. The business’s fifty day moving average price is $67.36 and its 200-day moving average price is $61.90.

RadNet (NASDAQ:RDNT) last issued its earnings results on Wednesday, August 7th. The medical research company reported $0.16 earnings per share for the quarter, missing analysts’ consensus estimates of $0.17 by ($0.01). RadNet had a return on equity of 4.30% and a net margin of 0.58%. The business had revenue of $459.70 million for the quarter, compared to the consensus estimate of $438.53 million. During the same quarter in the prior year, the business earned $0.24 EPS. RadNet’s revenue for the quarter was up 13.9% compared to the same quarter last year. On average, equities research analysts anticipate that RadNet, Inc. will post 0.59 EPS for the current 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.