Van Berkom & Associates Inc. Purchases 204,858 Shares of RadNet, Inc. $RDNT

Van Berkom & Associates Inc. lifted its position in shares of RadNet, Inc. (NASDAQ:RDNT) by 24.9% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,028,586 shares of the medical research company’s stock after buying an additional 204,858 shares during the quarter. Van Berkom & Associates Inc.’s holdings in RadNet were worth $57,488,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. RTW Investments LP lifted its stake in RadNet by 39.9% in the fourth quarter. RTW Investments LP now owns 3,938,500 shares of the medical research company’s stock worth $281,012,000 after acquiring an additional 1,122,956 shares during the period. Polar Capital Holdings Plc purchased a new position in RadNet during the 3rd quarter valued at about $63,423,000. Price T Rowe Associates Inc. MD raised its holdings in shares of RadNet by 30.3% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 2,699,082 shares of the medical research company’s stock valued at $192,581,000 after purchasing an additional 627,936 shares in the last quarter. Ameriprise Financial Inc. raised its holdings in shares of RadNet by 79.7% in 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 in the last quarter. Finally, Defiance ETFs LLC purchased a new stake in shares of RadNet in the 4th quarter worth approximately $37,019,000. 77.90% of the stock is currently owned by institutional investors.

RadNet Stock Performance

Shares of NASDAQ:RDNT opened at $62.19 on Monday. The business’s 50-day moving average is $57.99 and its 200 day moving average is $62.69. RadNet, Inc. has a 1 year low of $50.76 and a 1 year high of $85.84. The firm has a market capitalization of $4.89 billion, a P/E ratio of -345.48 and a beta of 1.37. The company has a debt-to-equity ratio of 0.79, a current ratio of 1.17 and a quick ratio of 1.17.

RadNet (NASDAQ:RDNT) last issued its quarterly earnings results on Monday, May 11th. The medical research company reported ($0.28) earnings per share for the quarter, missing the consensus estimate of ($0.14) by ($0.14). RadNet had a positive return on equity of 2.77% and a negative net margin of 0.66%.The business had revenue of $575.63 million during the quarter, compared to analyst estimates of $557.93 million. During the same period in the prior year, the business posted ($0.50) EPS. RadNet’s revenue was up 22.1% compared to the same quarter last year. On average, research analysts predict that RadNet, Inc. will post 0.54 earnings per share for the current fiscal year.

Insider Buying and Selling

In other RadNet news, CEO Cornelis Wesdorp sold 4,750 shares of the business’s stock in a transaction that occurred on Tuesday, June 16th. The shares were sold at an average price of $58.11, for a total transaction of $276,022.50. Following the sale, the chief executive officer owned 69,075 shares of the company’s stock, valued at approximately $4,013,948.25. The trade was a 6.43% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director David L. Swartz sold 2,699 shares of the company’s stock in a transaction that occurred on Thursday, June 18th. The shares were sold at an average price of $53.89, for a total transaction of $145,449.11. Following the transaction, the director owned 177,013 shares in the company, valued at $9,539,230.57. The trade was a 1.50% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 5.60% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

RDNT has been the topic of several research reports. Weiss Ratings lowered shares of RadNet from a “sell (d)” rating to a “sell (d-)” rating in a report on Tuesday, May 12th. Barclays dropped their target price on RadNet from $70.00 to $65.00 and set an “overweight” rating on the stock in a research report on Wednesday, May 20th. Finally, Zacks Research lowered RadNet from a “hold” rating to a “strong sell” rating in a research report on Monday, July 13th. Two equities research analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat, RadNet has a consensus rating of “Moderate Buy” and a consensus target price of $87.43.

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.