Charles Schwab Investment Management Inc. Sells 26,199 Shares of RadNet, Inc. $RDNT

Charles Schwab Investment Management Inc. lessened its holdings in shares of RadNet, Inc. (NASDAQ:RDNT) by 4.2% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 597,991 shares of the medical research company’s stock after selling 26,199 shares during the quarter. Charles Schwab Investment Management Inc. owned approximately 0.80% of RadNet worth $29,732,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also modified their holdings of the company. GAMMA Investing LLC increased its holdings in shares of RadNet by 22.3% in the 1st quarter. GAMMA Investing LLC now owns 1,644 shares of the medical research company’s stock worth $82,000 after buying an additional 300 shares during the last quarter. Tower Research Capital LLC TRC increased its holdings in shares of RadNet by 42.2% in the 4th quarter. Tower Research Capital LLC TRC now owns 1,422 shares of the medical research company’s stock worth $99,000 after buying an additional 422 shares during the last quarter. Canada Pension Plan Investment Board bought a new stake in shares of RadNet in the 4th quarter worth about $105,000. US Bancorp DE increased its holdings in shares of RadNet by 4,620.8% in the 1st quarter. US Bancorp DE now owns 3,635 shares of the medical research company’s stock worth $181,000 after buying an additional 3,558 shares during the last quarter. Finally, Aquatic Capital Management LLC bought a new stake in shares of RadNet in the 4th quarter worth about $187,000. Hedge funds and other institutional investors own 77.90% of the company’s stock.

Insider Buying and Selling

In related news, EVP David Jeffrey Katz sold 17,000 shares of RadNet stock in a transaction that occurred on Wednesday, August 13th. The shares were sold at an average price of $68.31, for a total value of $1,161,270.00. Following the completion of the transaction, the executive vice president owned 86,774 shares in the company, valued at approximately $5,927,531.94. The trade was a 16.38% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Alma Gregory Sorensen sold 55,000 shares of the business’s stock in a transaction that occurred on Friday, May 23rd. The stock was sold at an average price of $56.48, for a total transaction of $3,106,400.00. Following the transaction, the executive vice president owned 1,160,509 shares of the company’s stock, valued at $65,545,548.32. This trade represents a 4.52% decrease in their position. The disclosure for this sale can be found here. 5.60% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on RDNT shares. Truist Financial set a $74.00 price target on shares of RadNet in a research note on Thursday, July 10th. B. Riley started coverage on shares of RadNet in a research note on Friday, June 13th. They set a “buy” rating and a $69.00 price target for the company. Raymond James Financial reaffirmed a “strong-buy” rating and set a $75.00 price target (up from $66.00) on shares of RadNet in a research note on Wednesday, August 13th. Morgan Stanley raised shares of RadNet to an “overweight” rating in a research note on Monday, August 11th. Finally, Wall Street Zen raised shares of RadNet from a “sell” rating to a “hold” rating in a research note on Saturday. Three research analysts have rated the stock with a Strong Buy rating and four have assigned a Buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus price target of $71.60.

RadNet Stock Up 2.5%

Shares of NASDAQ RDNT opened at $67.93 on Wednesday. The company’s 50-day simple moving average is $57.69 and its 200-day simple moving average is $55.88. RadNet, Inc. has a 52-week low of $45.00 and a 52-week high of $93.65. The firm has a market cap of $5.23 billion, a price-to-earnings ratio of -339.63 and a beta of 1.43. The company has a quick ratio of 2.00, a current ratio of 2.00 and a debt-to-equity ratio of 0.91.

RadNet (NASDAQ:RDNT) last posted its quarterly earnings results on Sunday, August 10th. The medical research company reported $0.31 earnings per share for the quarter, topping the consensus estimate of $0.17 by $0.14. RadNet had a negative net margin of 0.78% and a positive return on equity of 2.41%. The firm had revenue of $498.23 million for the quarter, compared to the consensus estimate of $488.06 million. During the same period last year, the firm posted $0.16 earnings per share. The company’s revenue for the quarter was up 8.4% on a year-over-year basis. Equities analysts predict that RadNet, Inc. will post 0.56 EPS for the current fiscal year.

RadNet 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.