RadNet, Inc. $RDNT Shares Purchased by Commonwealth of Pennsylvania Public School Empls Retrmt SYS

Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its holdings in RadNet, Inc. (NASDAQ:RDNT) by 8.7% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 16,952 shares of the medical research company’s stock after purchasing an additional 1,363 shares during the quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS’s holdings in RadNet were worth $965,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Headlands Technologies LLC acquired a new stake in shares of RadNet in the 1st quarter valued at approximately $28,000. BNP PARIBAS ASSET MANAGEMENT Holding S.A. purchased a new position in RadNet in the second quarter worth $35,000. Family Legacy Financial Solutions LLC acquired a new stake in RadNet in the second quarter valued at $85,000. Jones Financial Companies Lllp boosted its position in shares of RadNet by 563.4% during the 1st quarter. Jones Financial Companies Lllp now owns 1,705 shares of the medical research company’s stock worth $85,000 after purchasing an additional 1,448 shares in the last quarter. Finally, GAMMA Investing LLC boosted its position in shares of RadNet by 41.5% during the 2nd quarter. GAMMA Investing LLC now owns 2,327 shares of the medical research company’s stock worth $132,000 after purchasing an additional 683 shares in the last quarter. Institutional investors and hedge funds own 77.90% of the company’s stock.

Insider Activity

In other news, CAO Mital Patel sold 15,080 shares of RadNet stock in a transaction dated Wednesday, November 19th. The shares were sold at an average price of $80.05, for a total transaction of $1,207,154.00. Following the completion of the sale, the chief accounting officer directly owned 180,138 shares in the company, valued at $14,420,046.90. The trade was a 7.72% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Cornelis Wesdorp sold 500 shares of the business’s stock in a transaction that occurred on Thursday, September 11th. The shares were sold at an average price of $72.13, for a total transaction of $36,065.00. Following the completion of the transaction, the chief executive officer directly owned 53,495 shares of the company’s stock, valued at approximately $3,858,594.35. This represents a 0.93% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 101,000 shares of company stock valued at $7,643,364 over the last quarter. 5.60% of the stock is currently owned by company insiders.

RadNet Stock Performance

RadNet stock opened at $83.00 on Monday. RadNet, Inc. has a fifty-two week low of $45.00 and a fifty-two week high of $85.42. The company has a market capitalization of $6.40 billion, a price-to-earnings ratio of -414.98 and a beta of 1.58. The stock has a fifty day moving average of $77.29 and a two-hundred day moving average of $66.38. The company has a debt-to-equity ratio of 0.91, a quick ratio of 2.00 and a current ratio of 2.00.

RadNet (NASDAQ:RDNT) last posted its quarterly earnings data on Sunday, November 9th. The medical research company reported $0.20 EPS for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.03). The company had revenue of $522.87 million for the quarter, compared to analyst estimates of $494.19 million. RadNet had a negative net margin of 0.78% and a positive return on equity of 2.41%. The firm’s revenue was up 13.4% on a year-over-year basis. During the same period in the previous year, the business earned $0.18 EPS. On average, analysts anticipate that RadNet, Inc. will post 0.56 EPS for the current fiscal year.

Wall Street Analyst Weigh In

RDNT has been the subject of a number of research analyst reports. Truist Financial increased their price target on shares of RadNet from $81.00 to $90.00 and gave the company a “buy” rating in a report on Wednesday, November 12th. Wall Street Zen raised shares of RadNet from a “sell” rating to a “hold” rating in a report on Saturday, August 16th. Barclays boosted their price target on RadNet from $79.00 to $86.00 and gave the stock an “overweight” rating in a research note on Thursday, November 13th. Morgan Stanley raised RadNet to an “overweight” rating in a research note on Monday, August 11th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of RadNet in a research report on Wednesday. Two research analysts have rated the stock with a Strong Buy rating, four have given a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, RadNet presently has a consensus rating of “Moderate Buy” and a consensus price target of $84.00.

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.