Neuberger Berman Group LLC Purchases 170,261 Shares of RadNet, Inc. $RDNT

Neuberger Berman Group LLC grew its position in shares of RadNet, Inc. (NASDAQ:RDNT) by 59.4% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 456,855 shares of the medical research company’s stock after acquiring an additional 170,261 shares during the quarter. Neuberger Berman Group LLC owned about 0.59% of RadNet worth $34,817,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently modified their holdings of the company. AQR Capital Management LLC lifted its holdings in shares of RadNet by 5.4% in the 1st quarter. AQR Capital Management LLC now owns 6,846 shares of the medical research company’s stock worth $340,000 after purchasing an additional 350 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in RadNet by 4.5% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 39,341 shares of the medical research company’s stock valued at $1,956,000 after purchasing an additional 1,699 shares in the last quarter. Jones Financial Companies Lllp raised its holdings in RadNet by 563.4% during the first quarter. Jones Financial Companies Lllp now owns 1,705 shares of the medical research company’s stock worth $85,000 after buying an additional 1,448 shares during the last quarter. United Services Automobile Association bought a new position in shares of RadNet in the first quarter valued at $216,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in shares of RadNet by 2.0% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 440,543 shares of the medical research company’s stock valued at $21,904,000 after buying an additional 8,762 shares during the last quarter. 77.90% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

RDNT has been the topic of a number of analyst reports. Jefferies Financial Group restated a “buy” rating and issued a $91.00 target price on shares of RadNet in a report on Tuesday. B. Riley Financial boosted their price objective on RadNet from $71.00 to $87.00 and gave the stock a “buy” rating in a report on Monday, December 1st. Truist Financial set a $90.00 target price on RadNet in a report on Wednesday, December 17th. Barclays lifted their target price on RadNet from $79.00 to $86.00 and gave the company an “overweight” rating in a research report on Thursday, November 13th. Finally, UBS Group set a $92.00 price target on RadNet in a report on Friday, January 9th. Two analysts have rated the stock with a Strong Buy rating, six have given a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, RadNet has a consensus rating of “Moderate Buy” and an average price target of $90.43.

RadNet Stock Down 9.0%

RadNet stock opened at $60.69 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 debt-to-equity ratio of 0.79, a quick ratio of 1.87 and a current ratio of 1.76. The firm’s 50-day simple moving average is $71.26 and its 200 day simple moving average is $74.38. The stock has a market cap of $4.71 billion, a PE ratio of -242.76 and a beta of 1.49.

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

RadNet Company 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.