Ellsworth Advisors LLC Makes New $741,000 Investment in RadNet, Inc. $RDNT

Ellsworth Advisors LLC purchased a new position in shares of RadNet, Inc. (NASDAQ:RDNT) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 10,158 shares of the medical research company’s stock, valued at approximately $741,000.

Other institutional investors also recently bought and sold shares of the company. Smartleaf Asset Management LLC lifted its stake in shares of RadNet by 13.3% during the 3rd quarter. Smartleaf Asset Management LLC now owns 1,361 shares of the medical research company’s stock valued at $102,000 after buying an additional 160 shares in the last quarter. Jones Financial Companies Lllp lifted its position in shares of RadNet by 62.2% in the third quarter. Jones Financial Companies Lllp now owns 446 shares of the medical research company’s stock valued at $34,000 after acquiring an additional 171 shares in the last quarter. Guidance Capital Inc. boosted its stake in shares of RadNet by 2.0% in the third quarter. Guidance Capital Inc. now owns 9,089 shares of the medical research company’s stock worth $758,000 after acquiring an additional 174 shares during the period. Xponance Inc. grew its position in shares of RadNet by 3.7% during the third quarter. Xponance Inc. now owns 5,368 shares of the medical research company’s stock worth $409,000 after purchasing an additional 193 shares in the last quarter. Finally, Sumitomo Mitsui DS Asset Management Company Ltd raised its stake in RadNet by 4.4% during the 3rd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 6,286 shares of the medical research company’s stock valued at $479,000 after purchasing an additional 265 shares during the period. 77.90% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the company. The Goldman Sachs Group upgraded RadNet to a “buy” rating in a report on Tuesday, December 16th. Raymond James Financial reiterated a “strong-buy” rating on shares of RadNet in a report on Thursday, December 18th. KeyCorp raised RadNet to a “strong-buy” rating in a research report on Friday, January 9th. Weiss Ratings reissued a “sell (d-)” rating on shares of RadNet in a report on Monday, December 29th. Finally, Jefferies Financial Group reiterated a “buy” rating and issued a $91.00 price objective on shares of RadNet in a research note on Tuesday, March 3rd. Two research analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $90.43.

Insider Buying and Selling at RadNet

In other news, insider Alma Gregory Sorensen sold 15,000 shares of the stock in a transaction dated Wednesday, March 18th. The shares were sold at an average price of $62.15, for a total value of $932,250.00. Following the completion of the transaction, the insider owned 1,208,923 shares in the company, valued at $75,134,564.45. This trade represents a 1.23% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 5.60% of the stock is currently owned by company insiders.

RadNet Price Performance

RadNet stock opened at $54.79 on Friday. The company’s 50 day moving average is $66.11 and its two-hundred day moving average is $72.86. The company has a quick ratio of 1.76, a current ratio of 1.76 and a debt-to-equity ratio of 0.79. RadNet, Inc. has a 52-week low of $45.00 and a 52-week high of $85.84. The firm has a market cap of $4.25 billion, a PE ratio of -219.16 and a beta of 1.53.

RadNet (NASDAQ:RDNT) last announced its quarterly earnings data on Monday, March 2nd. The medical research company reported $0.23 EPS for the quarter, beating analysts’ consensus estimates of $0.19 by $0.04. The company had revenue of $547.71 million for the quarter, compared to the consensus estimate of $515.67 million. RadNet had a negative net margin of 0.91% and a positive return on equity of 2.52%. The company’s quarterly revenue was up 14.8% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.22 EPS. On average, research analysts expect that RadNet, Inc. will post 0.56 EPS for the current fiscal year.

About RadNet

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.