Mairs & Power Inc. Acquires 39,752 Shares of RadNet, Inc. $RDNT

Mairs & Power Inc. increased its holdings in shares of RadNet, Inc. (NASDAQ:RDNT) by 68.9% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 97,483 shares of the medical research company’s stock after purchasing an additional 39,752 shares during the quarter. Mairs & Power Inc. owned approximately 0.13% of RadNet worth $7,429,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Farther Finance Advisors LLC boosted its stake in RadNet by 1,086.5% in the 3rd quarter. Farther Finance Advisors LLC now owns 439 shares of the medical research company’s stock worth $33,000 after purchasing an additional 402 shares during the period. Jones Financial Companies Lllp raised its position in shares of RadNet by 62.2% during the third quarter. Jones Financial Companies Lllp now owns 446 shares of the medical research company’s stock valued at $34,000 after buying an additional 171 shares during the last quarter. Salomon & Ludwin LLC purchased a new position in shares of RadNet in the third quarter worth $37,000. Abich Financial Wealth Management LLC purchased a new position in shares of RadNet in the third quarter worth $63,000. Finally, Aster Capital Management DIFC Ltd purchased a new position in shares of RadNet in the third quarter worth $73,000. Institutional investors own 77.90% of the company’s stock.

RadNet Trading Up 3.2%

Shares of RDNT stock opened at $64.10 on Tuesday. The company has a market cap of $4.97 billion, a PE ratio of -256.40 and a beta of 1.49. RadNet, Inc. has a 1 year low of $45.00 and a 1 year high of $85.84. The stock’s 50 day simple moving average is $70.02 and its two-hundred day simple moving average is $74.05. The company has a debt-to-equity ratio of 0.79, a current ratio of 1.76 and a quick ratio of 1.76.

RadNet (NASDAQ:RDNT) last announced its earnings results on Monday, March 2nd. The medical research company reported $0.23 EPS for the quarter, topping analysts’ consensus estimates of $0.19 by $0.04. RadNet had a positive return on equity of 2.52% and a negative net margin of 0.91%.The firm had revenue of $547.71 million during the quarter, compared to analysts’ expectations of $515.67 million. During the same quarter in the previous year, the business earned $0.22 EPS. The company’s quarterly revenue was up 14.8% on a year-over-year basis. Research analysts predict that RadNet, Inc. will post 0.56 earnings per share for the current year.

Analyst Ratings Changes

RDNT has been the subject of several research analyst reports. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of RadNet in a research note on Monday, December 29th. Jefferies Financial Group reissued a “buy” rating and set a $91.00 price objective on shares of RadNet in a report on Tuesday, March 3rd. KeyCorp upgraded RadNet to a “strong-buy” rating in a research report on Friday, January 9th. The Goldman Sachs Group raised RadNet to a “buy” rating in a report on Tuesday, December 16th. Finally, Raymond James Financial reissued a “strong-buy” rating on shares of RadNet in a research note on Thursday, December 18th. Two equities research analysts have rated the stock with a Strong Buy rating, six 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 $90.43.

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.