Dimensional Fund Advisors LP Has $77.07 Million Holdings in RadNet, Inc. $RDNT

Dimensional Fund Advisors LP grew its holdings in shares of RadNet, Inc. (NASDAQ:RDNT) by 1.4% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,379,003 shares of the medical research company’s stock after acquiring an additional 19,188 shares during the quarter. Dimensional Fund Advisors LP owned 1.76% of RadNet worth $77,074,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the stock. Nations Financial Group Inc. IA ADV acquired a new stake in RadNet in the 4th quarter valued at $1,118,000. Campbell Newman Asset Management Inc. acquired a new position in RadNet during the fourth quarter worth $1,773,000. Assenagon Asset Management S.A. bought a new position in shares of RadNet during the fourth quarter valued at $756,000. Bessemer Group Inc. lifted its holdings in shares of RadNet by 11.4% during the fourth quarter. Bessemer Group Inc. now owns 493,999 shares of the medical research company’s stock valued at $35,248,000 after acquiring an additional 50,690 shares during the period. Finally, SEB Asset Management AB acquired a new stake in shares of RadNet in the 1st quarter valued at $4,287,000. Institutional investors own 77.90% of the company’s stock.

Insider Transactions at RadNet

In other RadNet news, Director David L. Swartz sold 2,699 shares of the company’s stock in a transaction dated 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 directly owned 177,013 shares in the company, valued at approximately $9,539,230.57. This represents a 1.50% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Cornelis Wesdorp sold 4,750 shares of RadNet stock in a transaction that occurred on Tuesday, June 16th. The stock was 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. This represents a 6.43% decrease in their position. The SEC filing for this sale provides additional information. Corporate insiders own 5.60% of the company’s stock.

RadNet Stock Down 1.1%

NASDAQ:RDNT opened at $62.69 on Friday. The company has a market cap of $4.93 billion, a price-to-earnings ratio of -348.26 and a beta of 1.37. The company has a debt-to-equity ratio of 0.79, a quick ratio of 1.17 and a current ratio of 1.17. The stock’s fifty day moving average price is $59.35 and its two-hundred day moving average price is $61.88. RadNet, Inc. has a 52-week low of $50.76 and a 52-week high of $85.84.

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

Wall Street Analyst Weigh In

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

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.