Advantage Alpha Capital Partners LP Cuts Stake in RadNet, Inc. $RDNT

Advantage Alpha Capital Partners LP decreased its position in RadNet, Inc. (NASDAQ:RDNT) by 12.2% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 65,527 shares of the medical research company’s stock after selling 9,101 shares during the period. Advantage Alpha Capital Partners LP owned about 0.09% of RadNet worth $3,729,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the company. Headlands Technologies LLC acquired a new stake in RadNet in the first quarter valued at about $28,000. BNP PARIBAS ASSET MANAGEMENT Holding S.A. purchased a new position in shares of RadNet during the 2nd quarter worth approximately $35,000. Family Legacy Financial Solutions LLC acquired a new stake in shares of RadNet in the 2nd quarter valued at approximately $85,000. Jones Financial Companies Lllp boosted its stake 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 buying an additional 1,448 shares in the last quarter. Finally, Neo Ivy Capital Management acquired a new position in RadNet during the second quarter worth $88,000. 77.90% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, CEO Cornelis Wesdorp sold 500 shares of the business’s stock in a transaction dated Thursday, September 11th. The shares were sold at an average price of $72.13, for a total value of $36,065.00. Following the completion of the transaction, the chief executive officer owned 53,495 shares of the company’s stock, valued at approximately $3,858,594.35. The trade was a 0.93% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CAO Mital Patel sold 15,080 shares of the company’s 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 transaction, the chief accounting officer owned 180,138 shares in the company, valued at approximately $14,420,046.90. This trade represents a 7.72% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 96,000 shares of company stock worth $7,287,864. 5.60% of the stock is owned by company insiders.

Analyst Ratings Changes

RDNT has been the subject of a number of recent analyst reports. Zacks Research downgraded RadNet from a “strong-buy” rating to a “hold” rating in a report on Wednesday, November 12th. Raymond James Financial reiterated a “strong-buy” rating and issued a $95.00 price objective on shares of RadNet in a research note on Friday, November 14th. Morgan Stanley upgraded shares of RadNet to an “overweight” rating in a research report on Monday, August 11th. Wall Street Zen raised shares of RadNet from a “sell” rating to a “hold” rating in a report on Saturday, August 16th. Finally, 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. Two analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $84.00.

RadNet Stock Performance

Shares of RDNT opened at $82.79 on Friday. RadNet, Inc. has a 12-month low of $45.00 and a 12-month high of $85.84. The stock has a market cap of $6.39 billion, a P/E ratio of -413.93 and a beta of 1.58. The company has a current ratio of 2.00, a quick ratio of 2.00 and a debt-to-equity ratio of 0.91. The company has a 50-day moving average of $77.92 and a two-hundred day moving average of $66.99.

RadNet (NASDAQ:RDNT) last issued its quarterly earnings data on Monday, November 10th. The medical research company reported $0.20 earnings per share for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.03). The business had revenue of $522.87 million for the quarter, compared to analysts’ expectations of $494.19 million. RadNet had a positive return on equity of 2.41% and a negative net margin of 0.78%.The company’s revenue for the quarter was up 13.4% on a year-over-year basis. During the same period last year, the business earned $0.18 earnings per share. RadNet has set its FY 2025 guidance at EPS. As a group, research analysts predict that RadNet, Inc. will post 0.56 EPS for the current fiscal 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.