RadNet, Inc. $RDNT Stock Holdings Raised by Y Intercept Hong Kong Ltd

Y Intercept Hong Kong Ltd lifted its stake in shares of RadNet, Inc. (NASDAQ:RDNT) by 237.0% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 15,170 shares of the medical research company’s stock after buying an additional 10,668 shares during the quarter. Y Intercept Hong Kong Ltd’s holdings in RadNet were worth $1,156,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of RDNT. Allspring Global Investments Holdings LLC increased its holdings in shares of RadNet by 6.6% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 1,801,559 shares of the medical research company’s stock valued at $100,203,000 after acquiring an additional 112,284 shares during the last quarter. Geode Capital Management LLC lifted its position in shares of RadNet by 2.3% in the 2nd quarter. Geode Capital Management LLC now owns 1,640,188 shares of the medical research company’s stock worth $93,354,000 after buying an additional 37,403 shares during the last quarter. Invesco Ltd. grew its position in shares of RadNet by 7.2% during the 2nd quarter. Invesco Ltd. now owns 1,629,693 shares of the medical research company’s stock valued at $92,746,000 after buying an additional 108,863 shares during the last quarter. Ameriprise Financial Inc. raised its stake in RadNet by 79.7% during the second quarter. Ameriprise Financial Inc. now owns 1,394,552 shares of the medical research company’s stock worth $79,364,000 after acquiring an additional 618,392 shares during the period. Finally, Hood River Capital Management LLC lifted its holdings in RadNet by 1.6% in the second quarter. Hood River Capital Management LLC now owns 1,377,142 shares of the medical research company’s stock worth $78,373,000 after acquiring an additional 21,027 shares during the last quarter. 77.90% of the stock is owned by institutional investors.

RadNet Stock Down 0.9%

RDNT stock opened at $70.10 on Friday. The firm’s 50-day moving average is $75.10 and its two-hundred day moving average is $72.57. The company has a market capitalization of $5.41 billion, a price-to-earnings ratio of -412.33 and a beta of 1.51. RadNet, Inc. has a 52 week low of $45.00 and a 52 week high of $85.84. The company has a current ratio of 1.87, a quick ratio of 1.87 and a debt-to-equity ratio of 0.82.

RadNet (NASDAQ:RDNT) last posted its quarterly earnings data 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 negative net margin of 0.65% and a positive return on equity of 2.52%. The company had revenue of $522.87 million for the quarter, compared to analyst estimates of $494.19 million. During the same quarter in the prior year, the business earned $0.18 EPS. RadNet’s revenue was up 13.4% compared to the same quarter last year. On average, analysts forecast that RadNet, Inc. will post 0.56 earnings per share for the current fiscal year.

Insider Activity at RadNet

In other news, CAO Mital Patel sold 15,080 shares of the business’s stock in a transaction on Wednesday, November 19th. The stock was 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 approximately $14,420,046.90. The trade was a 7.72% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Over the last 90 days, insiders sold 50,000 shares of company stock valued at $3,902,254. 5.60% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the company. B. Riley upped their target price on RadNet from $71.00 to $87.00 and gave the company a “buy” rating in a report on Monday, December 1st. Barclays increased their price objective on shares of RadNet from $79.00 to $86.00 and gave the stock an “overweight” rating in a report on Thursday, November 13th. KeyCorp upgraded shares of RadNet to a “strong-buy” rating in a research report on Friday, January 9th. Zacks Research cut shares of RadNet from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, November 12th. Finally, Truist Financial set a $90.00 price target on RadNet in a report on Wednesday, December 17th. Two equities research analysts have rated the stock with a Strong Buy rating, five have issued 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, RadNet has a consensus rating of “Moderate Buy” and an average target price of $90.33.

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.