Beck Mack & Oliver LLC Acquires 13,633 Shares of RadNet, Inc. $RDNT

Beck Mack & Oliver LLC raised its holdings in shares of RadNet, Inc. (NASDAQ:RDNT) by 0.4% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,276,774 shares of the medical research company’s stock after acquiring an additional 13,633 shares during the quarter. RadNet makes up 4.5% of Beck Mack & Oliver LLC’s investment portfolio, making the stock its 5th largest position. Beck Mack & Oliver LLC owned approximately 4.25% of RadNet worth $249,723,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of the business. Smartleaf Asset Management LLC grew its position in shares of RadNet by 13.3% in the third quarter. Smartleaf Asset Management LLC now owns 1,361 shares of the medical research company’s stock valued at $102,000 after purchasing an additional 160 shares during the last quarter. Jones Financial Companies Lllp raised its position in shares of RadNet by 62.2% during the 3rd quarter. Jones Financial Companies Lllp now owns 446 shares of the medical research company’s stock worth $34,000 after purchasing an additional 171 shares during the last quarter. Guidance Capital Inc. lifted its stake in RadNet by 2.0% in the 3rd quarter. Guidance Capital Inc. now owns 9,089 shares of the medical research company’s stock valued at $758,000 after buying an additional 174 shares in the last quarter. Xponance Inc. lifted its stake in RadNet by 3.7% in the 3rd quarter. Xponance Inc. now owns 5,368 shares of the medical research company’s stock valued at $409,000 after buying an additional 193 shares in the last quarter. Finally, Sumitomo Mitsui DS Asset Management Company Ltd grew its holdings in RadNet by 4.4% during the 3rd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 6,286 shares of the medical research company’s stock valued at $479,000 after buying an additional 265 shares during the last quarter. Hedge funds and other institutional investors own 77.90% of the company’s stock.

RadNet Trading Up 3.9%

Shares of RDNT opened at $62.09 on Friday. RadNet, Inc. has a fifty-two week low of $45.00 and a fifty-two week high of $85.84. The company has a market capitalization of $4.82 billion, a PE ratio of -248.36 and a beta of 1.49. The stock has a fifty day moving average of $70.23 and a two-hundred day moving average of $74.09. The company has a debt-to-equity ratio of 0.79, a quick ratio of 1.76 and a current ratio of 1.76.

RadNet (NASDAQ:RDNT) last posted its quarterly earnings data on Monday, March 2nd. The medical research company reported $0.23 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.19 by $0.04. The business had revenue of $547.71 million for the quarter, compared to analysts’ expectations of $515.67 million. RadNet had a positive return on equity of 2.52% and a negative net margin of 0.91%.The business’s revenue was up 14.8% on a year-over-year basis. During the same quarter last year, the firm earned $0.22 earnings per share. As a group, analysts forecast that RadNet, Inc. will post 0.56 EPS for the current year.

Analyst Ratings Changes

RDNT has been the subject of several recent research reports. Jefferies Financial Group reissued a “buy” rating and set a $91.00 price target on shares of RadNet in a research report on Tuesday, March 3rd. Truist Financial set a $90.00 price objective on RadNet in a research note on Wednesday, December 17th. KeyCorp upgraded RadNet to a “strong-buy” rating in a research report on Friday, January 9th. UBS Group set a $92.00 target price on shares of RadNet in a research note on Friday, January 9th. Finally, B. Riley Financial upped their target price on shares of RadNet from $71.00 to $87.00 and gave the company a “buy” rating in a report on Monday, December 1st. Two equities research analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $90.43.

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.