RadNet, Inc. (NASDAQ:RDNT) Shares Acquired by SteelPeak Wealth LLC

SteelPeak Wealth LLC lifted its holdings in RadNet, Inc. (NASDAQ:RDNT) by 25.0% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 25,000 shares of the medical research company’s stock after buying an additional 5,000 shares during the period. SteelPeak Wealth LLC’s holdings in RadNet were worth $1,473,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently bought and sold shares of RDNT. Raymond James Financial Services Advisors Inc. grew its holdings in RadNet by 38.2% in the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 15,727 shares of the medical research company’s stock valued at $547,000 after buying an additional 4,350 shares in the last quarter. Cerity Partners LLC purchased a new stake in shares of RadNet in the fourth quarter valued at about $5,871,000. Louisiana State Employees Retirement System purchased a new position in RadNet during the fourth quarter worth about $1,050,000. Beverly Hills Private Wealth LLC purchased a new position in RadNet during the fourth quarter worth about $243,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in RadNet by 8.3% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 13,357 shares of the medical research company’s stock valued at $464,000 after purchasing an additional 1,028 shares during the last quarter. 77.90% of the stock is currently owned by institutional investors and hedge funds.

RadNet Trading Up 1.3 %

RadNet stock traded up $0.83 during midday trading on Thursday, reaching $63.45. 331,122 shares of the stock traded hands, compared to its average volume of 551,195. The firm has a market cap of $4.69 billion, a PE ratio of 208.73 and a beta of 1.75. The company has a current ratio of 1.86, a quick ratio of 1.86 and a debt-to-equity ratio of 0.76. The company has a 50-day simple moving average of $60.03 and a two-hundred day simple moving average of $51.90. RadNet, Inc. has a 12-month low of $25.11 and a 12-month high of $66.04.

RadNet (NASDAQ:RDNT) last posted its quarterly earnings data on Wednesday, August 7th. The medical research company reported $0.16 EPS for the quarter, missing the consensus estimate of $0.17 by ($0.01). RadNet had a net margin of 1.28% and a return on equity of 5.05%. The business had revenue of $459.70 million during the quarter, compared to analysts’ expectations of $438.53 million. During the same period in the previous year, the business posted $0.24 EPS. The company’s revenue for the quarter was up 13.9% compared to the same quarter last year. Research analysts expect that RadNet, Inc. will post 0.58 earnings per share for the current fiscal year.

Insider Transactions at RadNet

In other news, CFO Mark Stolper sold 25,000 shares of RadNet stock in a transaction dated Monday, June 10th. The stock was sold at an average price of $61.27, for a total value of $1,531,750.00. Following the completion of the transaction, the chief financial officer now owns 80,398 shares in the company, valued at approximately $4,925,985.46. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, COO Norman R. Hames sold 18,597 shares of the stock in a transaction on Wednesday, June 12th. The stock was sold at an average price of $63.08, for a total value of $1,173,098.76. Following the transaction, the chief operating officer now owns 227,322 shares of the company’s stock, valued at $14,339,471.76. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Mark Stolper sold 25,000 shares of the firm’s stock in a transaction on Monday, June 10th. The shares were sold at an average price of $61.27, for a total value of $1,531,750.00. Following the completion of the sale, the chief financial officer now owns 80,398 shares in the company, valued at $4,925,985.46. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 99,730 shares of company stock valued at $6,121,516. 5.12% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several analysts have recently commented on RDNT shares. Jefferies Financial Group lifted their price target on shares of RadNet from $61.00 to $75.00 and gave the company a “buy” rating in a research report on Thursday, July 11th. StockNews.com lowered RadNet from a “hold” rating to a “sell” rating in a research note on Wednesday, May 15th. Truist Financial raised their price objective on RadNet from $63.00 to $70.00 and gave the stock a “buy” rating in a research report on Monday, July 15th. Raymond James upped their target price on shares of RadNet from $50.00 to $60.00 and gave the company an “outperform” rating in a research report on Friday, May 10th. Finally, Barclays lifted their price target on shares of RadNet from $51.00 to $57.00 and gave the company an “equal weight” rating in a research report on Thursday, August 8th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, RadNet has a consensus rating of “Hold” and a consensus price target of $65.50.

About RadNet

RadNet, Inc, together with its subsidiaries, provides outpatient diagnostic imaging services in the United States. The company operates in two segments: Imaging Centers and Artificial Intelligence. Its services include magnetic resonance imaging, computed tomography, positron emission tomography, nuclear medicine, mammography, ultrasound, diagnostic radiology, fluoroscopy, and other related procedures, as well as multi-modality imaging services.