RadNet, Inc. $RDNT Shares Acquired by Castleark Management LLC

Castleark Management LLC increased its stake in shares of RadNet, Inc. (NASDAQ:RDNT) by 241.7% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 96,203 shares of the medical research company’s stock after buying an additional 68,050 shares during the quarter. Castleark Management LLC owned about 0.13% of RadNet worth $5,475,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. LPL Financial LLC grew its position in shares of RadNet by 616.4% during the first quarter. LPL Financial LLC now owns 45,260 shares of the medical research company’s stock worth $2,235,000 after acquiring an additional 38,942 shares during the last quarter. Nuveen LLC acquired a new position in RadNet during the 1st quarter valued at about $27,422,000. HighTower Advisors LLC boosted its stake in RadNet by 6.2% during the 1st quarter. HighTower Advisors LLC now owns 9,345 shares of the medical research company’s stock valued at $465,000 after purchasing an additional 548 shares during the period. Russell Investments Group Ltd. grew its position in RadNet by 15.0% in the 1st quarter. Russell Investments Group Ltd. now owns 101,018 shares of the medical research company’s stock worth $5,023,000 after purchasing an additional 13,147 shares during the last quarter. Finally, American Century Companies Inc. increased its stake in shares of RadNet by 507.9% in the first quarter. American Century Companies Inc. now owns 1,272,928 shares of the medical research company’s stock valued at $63,290,000 after purchasing an additional 1,063,516 shares during the period. 77.90% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the company. B. Riley boosted their price objective on RadNet from $71.00 to $87.00 and gave the stock a “buy” rating in a research report on Monday, December 1st. Raymond James Financial reaffirmed a “strong-buy” rating and set a $95.00 target price on shares of RadNet in a research note on Friday, November 14th. Barclays increased 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. Weiss Ratings restated a “sell (d-)” rating on shares of RadNet in a research note on Monday, December 8th. Finally, Zacks Research downgraded shares of RadNet from a “strong-buy” rating to a “hold” rating in a report on Wednesday, November 12th. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $87.60.

RadNet Stock Down 6.0%

Shares of RDNT stock opened at $73.94 on Monday. RadNet, Inc. has a 1 year low of $45.00 and a 1 year high of $85.84. The company has a debt-to-equity ratio of 0.82, a quick ratio of 1.87 and a current ratio of 1.87. The business’s fifty day moving average is $78.36 and its 200-day moving average is $68.66. The stock has a market cap of $5.70 billion, a PE ratio of -434.92 and a beta of 1.48.

RadNet (NASDAQ:RDNT) last announced its quarterly earnings data on Monday, November 10th. The medical research company reported $0.20 earnings per share for the quarter, missing the consensus estimate of $0.23 by ($0.03). The firm had revenue of $522.87 million during the quarter, compared to analyst estimates of $494.19 million. RadNet had a negative net margin of 0.65% and a positive return on equity of 2.52%. The company’s quarterly revenue was up 13.4% compared to the same quarter last year. During the same quarter last year, the company earned $0.18 EPS. Equities analysts expect that RadNet, Inc. will post 0.56 earnings per share for the current fiscal year.

Insider Activity

In other news, EVP Mark Stolper sold 35,000 shares of RadNet stock in a transaction that occurred on Tuesday, September 16th. The shares were sold at an average price of $73.89, for a total value of $2,586,150.00. Following the transaction, the executive vice president owned 68,012 shares of the company’s stock, valued at $5,025,406.68. The trade was a 33.98% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CAO Mital Patel sold 25,000 shares of the stock in a transaction that occurred on Monday, November 17th. The shares were sold at an average price of $76.06, for a total transaction of $1,901,500.00. Following the sale, the chief accounting officer directly owned 205,138 shares of the company’s stock, valued at approximately $15,602,796.28. This represents a 10.86% 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 85,000 shares of company stock valued at $6,488,404. Insiders own 5.60% of the company’s stock.

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.