RadNet, Inc. $RDNT Shares Sold by Emerald Advisers LLC

Emerald Advisers LLC trimmed its position in RadNet, Inc. (NASDAQ:RDNT) by 4.5% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 642,167 shares of the medical research company’s stock after selling 30,189 shares during the quarter. RadNet comprises 1.6% of Emerald Advisers LLC’s investment portfolio, making the stock its 12th biggest position. Emerald Advisers LLC owned 0.83% of RadNet worth $48,940,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Ameriprise Financial Inc. raised its position in shares of RadNet by 79.7% during the 2nd quarter. Ameriprise Financial Inc. now owns 1,394,552 shares of the medical research company’s stock valued at $79,364,000 after buying an additional 618,392 shares during the period. Norges Bank purchased a new position in RadNet in the second quarter worth approximately $31,051,000. 8 Knots Management LLC acquired a new stake in RadNet during the second quarter worth $14,654,000. Adage Capital Partners GP L.L.C. raised its position in RadNet by 142.1% in the second quarter. Adage Capital Partners GP L.L.C. now owns 403,150 shares of the medical research company’s stock valued at $22,943,000 after purchasing an additional 236,648 shares during the period. Finally, Alpha Wave Global LP lifted its stake in shares of RadNet by 63.7% in the 2nd quarter. Alpha Wave Global LP now owns 387,477 shares of the medical research company’s stock valued at $22,051,000 after purchasing an additional 150,849 shares during the last quarter. Hedge funds and other institutional investors own 77.90% of the company’s stock.

Insider Buying and Selling at RadNet

In related news, CAO Mital Patel sold 15,080 shares of the firm’s stock in a transaction that occurred on Wednesday, November 19th. The shares were sold at an average price of $80.05, for a total value of $1,207,154.00. Following the sale, the chief accounting officer owned 180,138 shares of the company’s stock, valued at $14,420,046.90. This trade represents a 7.72% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders have sold 50,000 shares of company stock worth $3,902,254 in the last 90 days. 5.60% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on RDNT shares. Raymond James Financial reissued a “strong-buy” rating on shares of RadNet in a research report on Thursday, December 18th. Weiss Ratings reiterated a “sell (d-)” rating on shares of RadNet in a research report on Monday, December 29th. Truist Financial set a $90.00 price objective on shares of RadNet in a report on Wednesday, December 17th. B. Riley increased their price objective on shares of RadNet from $71.00 to $87.00 and gave the stock a “buy” rating in a research report on Monday, December 1st. Finally, KeyCorp raised RadNet to a “strong-buy” rating in a research report on Friday, January 9th. Two research analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $90.33.

RadNet Stock Performance

NASDAQ:RDNT opened at $72.00 on Thursday. RadNet, Inc. has a 52 week low of $45.00 and a 52 week high of $85.84. The company has a fifty day simple moving average of $75.94 and a two-hundred day simple moving average of $71.79. The company has a quick ratio of 1.87, a current ratio of 1.87 and a debt-to-equity ratio of 0.82. The company has a market cap of $5.55 billion, a price-to-earnings ratio of -423.50 and a beta of 1.51.

RadNet (NASDAQ:RDNT) last released its earnings results on Monday, November 10th. The medical research company reported $0.20 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.03). RadNet had a negative net margin of 0.65% and a positive return on equity of 2.52%. The company had revenue of $522.87 million during the quarter, compared to analysts’ expectations of $494.19 million. During the same quarter last year, the business posted $0.18 earnings per share. The company’s revenue for the quarter was up 13.4% on a year-over-year basis. As a group, equities analysts anticipate that RadNet, Inc. will post 0.56 earnings per share for the current fiscal year.

RadNet Profile

RadNet, Inc is a leading independent provider of outpatient diagnostic imaging services in the United States. Through a nationwide network of fixed-site imaging centers and affiliated joint-venture locations, the company delivers a comprehensive suite of radiology services including MRI, CT, PET/CT, ultrasound, X-ray, mammography, bone densitometry, nuclear medicine and interventional radiology procedures. RadNet also offers teleradiology and imaging management solutions to physician practices, hospitals and healthcare systems.

Founded in 1981 and headquartered in Los Angeles, RadNet has expanded its footprint organically and through strategic acquisitions.