Mutual of America Capital Management LLC Sells 1,005 Shares of RadNet, Inc. $RDNT

Mutual of America Capital Management LLC lowered its stake in shares of RadNet, Inc. (NASDAQ:RDNT) by 10.6% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 8,482 shares of the medical research company’s stock after selling 1,005 shares during the quarter. Mutual of America Capital Management LLC’s holdings in RadNet were worth $483,000 at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. Xponance Inc. boosted its position in RadNet by 5.0% in the first quarter. Xponance Inc. now owns 5,010 shares of the medical research company’s stock worth $249,000 after purchasing an additional 239 shares during the last quarter. GAMMA Investing LLC boosted its position in RadNet by 22.3% in the first quarter. GAMMA Investing LLC now owns 1,644 shares of the medical research company’s stock worth $82,000 after purchasing an additional 300 shares during the last quarter. AQR Capital Management LLC boosted its position in RadNet by 5.4% in the first quarter. AQR Capital Management LLC now owns 6,846 shares of the medical research company’s stock worth $340,000 after purchasing an additional 350 shares during the last quarter. Maryland State Retirement & Pension System boosted its position in RadNet by 2.2% in the second quarter. Maryland State Retirement & Pension System now owns 19,404 shares of the medical research company’s stock worth $1,104,000 after purchasing an additional 423 shares during the last quarter. Finally, HighTower Advisors LLC boosted its position in RadNet by 6.2% in the first quarter. HighTower Advisors LLC now owns 9,345 shares of the medical research company’s stock worth $465,000 after purchasing an additional 548 shares during the last quarter. Institutional investors own 77.90% of the company’s stock.

RadNet Stock Down 3.1%

Shares of NASDAQ RDNT opened at $79.10 on Wednesday. RadNet, Inc. has a one year low of $45.00 and a one year high of $93.65. The company has a debt-to-equity ratio of 0.91, a current ratio of 2.00 and a quick ratio of 2.00. The business’s fifty day moving average price is $74.87 and its 200-day moving average price is $62.94. The stock has a market capitalization of $6.08 billion, a PE ratio of -395.48 and a beta of 1.59.

RadNet (NASDAQ:RDNT) last released its quarterly earnings data on Sunday, August 10th. The medical research company reported $0.31 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.17 by $0.14. RadNet had a positive return on equity of 2.41% and a negative net margin of 0.78%.The company had revenue of $498.23 million for the quarter, compared to analyst estimates of $488.06 million. During the same period in the previous year, the company posted $0.16 EPS. The firm’s revenue for the quarter was up 8.4% compared to the same quarter last year. On average, equities research analysts anticipate that RadNet, Inc. will post 0.56 EPS for the current year.

Insider Activity at RadNet

In related news, insider Ranjan Jayanathan sold 65,598 shares of the business’s stock in a transaction on Tuesday, August 19th. The stock was sold at an average price of $67.50, for a total transaction of $4,427,865.00. Following the sale, the insider directly owned 138,198 shares in the company, valued at approximately $9,328,365. The trade was a 32.19% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Cornelis Wesdorp sold 500 shares of the business’s stock in a transaction on Thursday, September 11th. The shares were sold at an average price of $72.13, for a total value of $36,065.00. Following the sale, the chief executive officer owned 53,495 shares in the company, valued at approximately $3,858,594.35. The trade was a 0.93% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 135,098 shares of company stock worth $9,430,715 in the last 90 days. 5.60% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the company. Weiss Ratings reissued a “sell (d)” rating on shares of RadNet in a research report on Wednesday, October 8th. Zacks Research raised RadNet from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, October 14th. Wall Street Zen raised RadNet from a “sell” rating to a “hold” rating in a research report on Saturday, August 16th. Truist Financial boosted their price objective on RadNet from $74.00 to $81.00 and gave the stock a “buy” rating in a research report on Wednesday, September 3rd. Finally, Raymond James Financial reissued a “strong-buy” rating and issued a $75.00 price objective (up previously from $66.00) on shares of RadNet in a research report on Wednesday, August 13th. Three research analysts have rated the stock with a Strong Buy rating, four have given a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus price target of $76.80.

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.