RadNet, Inc. $RDNT Shares Purchased by Bessemer Group Inc.

Bessemer Group Inc. grew its stake in shares of RadNet, Inc. (NASDAQ:RDNT) by 18.4% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 443,309 shares of the medical research company’s stock after buying an additional 68,962 shares during the quarter. Bessemer Group Inc.’s holdings in RadNet were worth $33,784,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Van Berkom & Associates Inc. raised its holdings in RadNet by 14,163.6% during the third quarter. Van Berkom & Associates Inc. now owns 823,582 shares of the medical research company’s stock worth $62,765,000 after purchasing an additional 817,808 shares in the last quarter. Ameriprise Financial Inc. increased 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 purchasing an additional 618,392 shares during the period. Norges Bank bought a new stake in shares of RadNet in the 2nd quarter worth $31,051,000. 8 Knots Management LLC bought a new stake in shares of RadNet in the 2nd quarter worth $14,654,000. Finally, Adage Capital Partners GP L.L.C. lifted its holdings in shares of 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 buying an additional 236,648 shares during the period. 77.90% of the stock is currently owned by institutional investors.

RadNet Stock Performance

RadNet stock opened at $64.52 on Friday. RadNet, Inc. has a fifty-two week low of $45.00 and a fifty-two week high of $85.84. The firm’s 50 day simple moving average is $73.90 and its 200-day simple moving average is $72.76. The company has a debt-to-equity ratio of 0.82, a current ratio of 1.87 and a quick ratio of 1.87. The company has a market cap of $4.98 billion, a P/E ratio of -379.51 and a beta of 1.49.

RadNet (NASDAQ:RDNT) last issued its quarterly earnings results on Monday, November 10th. The medical research company reported $0.20 EPS for the quarter, missing the consensus estimate 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 firm had revenue of $522.87 million during the quarter, compared to analysts’ expectations of $494.19 million. During the same quarter last year, the company posted $0.18 EPS. The firm’s revenue was up 13.4% compared to the same quarter last year. As a group, equities research analysts predict 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 RadNet stock in a transaction on Wednesday, November 19th. The stock was sold at an average price of $80.05, for a total transaction of $1,207,154.00. Following the transaction, the chief accounting officer owned 180,138 shares in the company, valued at approximately $14,420,046.90. The trade was a 7.72% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders sold a total of 50,000 shares of company stock valued at $3,902,254 over the last ninety days. Company insiders own 5.60% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the company. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of RadNet in a report on Monday, December 29th. UBS Group set a $92.00 price objective on shares of RadNet in a research note on Friday, January 9th. The Goldman Sachs Group raised shares of RadNet to a “buy” rating in a research note on Tuesday, December 16th. Raymond James Financial restated a “strong-buy” rating on shares of RadNet in a research report on Thursday, December 18th. Finally, B. Riley upped their price target on RadNet from $71.00 to $87.00 and gave the company a “buy” rating in a report on Monday, December 1st. 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 stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $90.33.

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.