Oppenheimer Asset Management Inc. Acquires Shares of 6,004 RadNet, Inc. $RDNT

Oppenheimer Asset Management Inc. acquired a new stake in shares of RadNet, Inc. (NASDAQ:RDNT) in the second quarter, according to its most recent disclosure with the SEC. The firm acquired 6,004 shares of the medical research company’s stock, valued at approximately $342,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Headlands Technologies LLC purchased a new position in shares of RadNet in the first quarter valued at $28,000. Family Legacy Financial Solutions LLC purchased a new position in shares of RadNet in the second quarter valued at $85,000. GAMMA Investing LLC grew its holdings in shares of RadNet by 22.3% in the first quarter. GAMMA Investing LLC now owns 1,644 shares of the medical research company’s stock valued at $82,000 after purchasing an additional 300 shares in the last quarter. Jones Financial Companies Lllp grew its holdings in shares of RadNet by 563.4% in the first quarter. Jones Financial Companies Lllp now owns 1,705 shares of the medical research company’s stock valued at $85,000 after purchasing an additional 1,448 shares in the last quarter. Finally, Strs Ohio bought a new stake in RadNet in the first quarter worth $139,000. 77.90% of the stock is owned by hedge funds and other institutional investors.

RadNet Trading Down 0.1%

Shares of NASDAQ:RDNT opened at $76.05 on Monday. RadNet, Inc. has a 12-month low of $45.00 and a 12-month high of $93.65. The company has a market capitalization of $5.85 billion, a PE ratio of -380.23 and a beta of 1.59. The business has a 50 day moving average of $75.35 and a two-hundred day moving average of $63.52. The company has a current ratio of 2.00, a quick ratio of 2.00 and a debt-to-equity ratio of 0.91.

RadNet (NASDAQ:RDNT) last announced its quarterly earnings results 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 during the quarter, compared to the consensus estimate of $488.06 million. During the same period in the previous year, the company posted $0.16 earnings per share. RadNet’s revenue for the quarter was up 8.4% on a year-over-year basis. As a group, analysts forecast that RadNet, Inc. will post 0.56 EPS for the current year.

Insider Buying and Selling at RadNet

In related news, COO Norman R. Hames sold 10,000 shares of the business’s stock in a transaction that occurred on Wednesday, September 10th. The stock was sold at an average price of $72.74, for a total transaction of $727,400.00. Following the completion of the sale, the chief operating officer directly owned 239,183 shares in the company, valued at approximately $17,398,171.42. The trade was a 4.01% 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. Also, CEO Cornelis Wesdorp sold 1,500 shares of the business’s stock in a transaction that occurred on Tuesday, August 19th. The stock was sold at an average price of $66.98, for a total value of $100,470.00. Following the sale, the chief executive officer owned 54,495 shares of the company’s stock, valued at $3,650,075.10. The trade was a 2.68% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 135,098 shares of company stock worth $9,430,715. 5.60% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on RDNT shares. Zacks Research upgraded RadNet from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, October 14th. Truist Financial raised their price target on RadNet from $74.00 to $81.00 and gave the company a “buy” rating in a research note on Wednesday, September 3rd. Wall Street Zen upgraded RadNet from a “sell” rating to a “hold” rating in a research note on Saturday, August 16th. Morgan Stanley upgraded RadNet to an “overweight” rating in a research note on Monday, August 11th. Finally, Barclays boosted their price target on RadNet from $60.00 to $79.00 and gave the stock an “overweight” rating in a research note on Wednesday, September 3rd. Three analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Buy” and an average price target of $76.80.

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.