Emerald Mutual Fund Advisers Trust Sells 50,766 Shares of RadNet, Inc. $RDNT

Emerald Mutual Fund Advisers Trust reduced its stake in shares of RadNet, Inc. (NASDAQ:RDNT) by 12.0% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 372,780 shares of the medical research company’s stock after selling 50,766 shares during the quarter. RadNet makes up 1.5% of Emerald Mutual Fund Advisers Trust’s holdings, making the stock its 15th largest position. Emerald Mutual Fund Advisers Trust owned 0.48% of RadNet worth $28,410,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Bailard Inc. bought a new position in RadNet in the third quarter worth about $286,000. Universal Beteiligungs und Servicegesellschaft mbH boosted its holdings in shares of RadNet by 18.9% in the 3rd quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 55,004 shares of the medical research company’s stock valued at $4,192,000 after buying an additional 8,737 shares in the last quarter. Wealth Enhancement Advisory Services LLC grew its position in shares of RadNet by 7.2% in the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 13,272 shares of the medical research company’s stock worth $1,034,000 after buying an additional 894 shares during the last quarter. Yorktown Management & Research Co Inc bought a new position in shares of RadNet during the 3rd quarter worth approximately $408,000. Finally, Amalgamated Bank lifted its position in RadNet by 5.9% during the third quarter. Amalgamated Bank now owns 19,939 shares of the medical research company’s stock valued at $1,520,000 after acquiring an additional 1,119 shares during the last quarter. Hedge funds and other institutional investors own 77.90% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have issued reports on RDNT shares. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of RadNet in a report on Monday, December 29th. The Goldman Sachs Group raised RadNet to a “buy” rating in a research report on Tuesday, December 16th. Zacks Research lowered RadNet from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, November 12th. Truist Financial set a $90.00 price target on RadNet in a report on Wednesday, December 17th. Finally, UBS Group set a $92.00 price target on RadNet in a research note 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 issued a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $90.33.

RadNet Stock Up 1.3%

RadNet stock opened at $72.97 on Friday. The business’s 50-day simple moving average is $75.93 and its two-hundred day simple moving average is $71.80. 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 company has a market cap of $5.63 billion, a PE ratio of -429.21 and a beta of 1.51. RadNet, Inc. has a fifty-two week low of $45.00 and a fifty-two week high of $85.84.

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

Insider Activity at RadNet

In other news, CAO Mital Patel sold 15,080 shares of the stock in a transaction 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 in the company, valued at $14,420,046.90. This represents a 7.72% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Over the last quarter, insiders have sold 50,000 shares of company stock valued at $3,902,254. 5.60% of the stock is owned by corporate insiders.

RadNet Company 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.