Penserra Capital Management LLC Has $36.51 Million Stock Holdings in RadNet, Inc. $RDNT

Penserra Capital Management LLC boosted its holdings in shares of RadNet, Inc. (NASDAQ:RDNT) by 43.4% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 479,077 shares of the medical research company’s stock after buying an additional 144,897 shares during the period. Penserra Capital Management LLC owned approximately 0.62% of RadNet worth $36,510,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently bought and sold shares of the company. Van Berkom & Associates Inc. grew its stake in RadNet by 14,163.6% during the 3rd quarter. Van Berkom & Associates Inc. now owns 823,582 shares of the medical research company’s stock valued at $62,765,000 after acquiring an additional 817,808 shares in the last quarter. WCM Investment Management LLC boosted its holdings in shares of RadNet by 32.6% during the third quarter. WCM Investment Management LLC now owns 285,778 shares of the medical research company’s stock worth $21,348,000 after purchasing an additional 70,244 shares during the period. AGF Management Ltd. grew its position in RadNet by 24.3% during the third quarter. AGF Management Ltd. now owns 166,098 shares of the medical research company’s stock valued at $12,658,000 after purchasing an additional 32,461 shares in the last quarter. Jones Financial Companies Lllp increased its stake in RadNet by 62.2% in the 3rd 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 period. Finally, Mutual Advisors LLC lifted its position in RadNet by 55.6% in the 3rd quarter. Mutual Advisors LLC now owns 6,187 shares of the medical research company’s stock worth $513,000 after buying an additional 2,210 shares in the last quarter. 77.90% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at RadNet

In related news, CAO Mital Patel sold 25,000 shares of the stock in a transaction that occurred on Monday, November 17th. The stock was sold at an average price of $76.06, for a total transaction of $1,901,500.00. Following the completion of the sale, the chief accounting officer owned 205,138 shares in the company, valued at $15,602,796.28. This represents a 10.86% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Over the last ninety days, insiders sold 50,000 shares of company stock worth $3,902,254. 5.60% of the stock is currently owned by insiders.

RadNet Stock Performance

NASDAQ:RDNT opened at $70.11 on Wednesday. RadNet, Inc. has a 1 year low of $45.00 and a 1 year high of $85.84. The firm’s fifty day simple moving average is $74.57 and its 200 day simple moving average is $72.85. The company has a current ratio of 1.87, a quick ratio of 1.87 and a debt-to-equity ratio of 0.82. The firm has a market capitalization of $5.41 billion, a PE ratio of -412.39 and a beta of 1.49.

RadNet (NASDAQ:RDNT) last released its earnings results on Monday, November 10th. The medical research company reported $0.20 earnings per share for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.03). The firm had revenue of $522.87 million for the quarter, compared to analyst estimates of $494.19 million. RadNet had a positive return on equity of 2.52% and a negative net margin of 0.65%.The firm’s revenue was up 13.4% on a year-over-year basis. During the same period in the prior year, the firm earned $0.18 EPS. On average, sell-side analysts anticipate that RadNet, Inc. will post 0.56 EPS for the current year.

Analysts Set New Price Targets

Several equities analysts have recently commented on the stock. Weiss Ratings restated a “sell (d-)” rating on shares of RadNet in a report on Monday, December 29th. Zacks Research cut RadNet from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, November 12th. KeyCorp raised RadNet to a “strong-buy” rating in a research report on Friday, January 9th. Raymond James Financial reaffirmed a “strong-buy” rating on shares of RadNet in a research note on Thursday, December 18th. Finally, The Goldman Sachs Group raised RadNet to a “buy” rating in a research note on Tuesday, December 16th. Two analysts have rated the stock with a Strong Buy rating, five have given a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $90.33.

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.