UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Has $39.21 Million Position in RadNet, Inc. $RDNT

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC cut its position in shares of RadNet, Inc. (NASDAQ:RDNT) by 5.6% in the second quarter, Holdings Channel reports. The institutional investor owned 635,813 shares of the medical research company’s stock after selling 37,436 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC’s holdings in RadNet were worth $39,211,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. BlackRock Inc. bought a new stake in RadNet in the 2nd quarter valued at approximately $675,768,000. JB Capital Partners LP bought a new position in shares of RadNet during the 2nd quarter worth approximately $87,821,842. Bamco Inc. NY acquired a new stake in shares of RadNet in the second quarter valued at approximately $77,765,000. RTW Investments LP raised its holdings in shares of RadNet by 39.9% in the fourth quarter. RTW Investments LP now owns 3,938,500 shares of the medical research company’s stock valued at $281,012,000 after purchasing an additional 1,122,956 shares during the last quarter. Finally, Polar Capital Holdings Plc bought a new stake in shares of RadNet in the third quarter worth $63,423,000. Institutional investors and hedge funds own 77.90% of the company’s stock.

RadNet Trading Down 1.4%

Shares of RDNT stock opened at $74.62 on Friday. The company has a current ratio of 1.48, a quick ratio of 1.48 and a debt-to-equity ratio of 0.94. The stock has a market cap of $5.87 billion, a P/E ratio of -276.36 and a beta of 1.41. The stock has a 50 day simple moving average of $68.74 and a 200 day simple moving average of $62.43. RadNet, Inc. has a 1 year low of $50.82 and a 1 year high of $85.84.

RadNet (NASDAQ:RDNT) last posted its quarterly earnings data on Monday, August 10th. The medical research company reported $0.29 EPS for the quarter, topping analysts’ consensus estimates of $0.20 by $0.09. The firm had revenue of $622.72 million for the quarter, compared to analyst estimates of $610.87 million. RadNet had a positive return on equity of 2.61% and a negative net margin of 0.93%.The company’s revenue was up 25.0% on a year-over-year basis. During the same quarter last year, the company earned $0.31 EPS. On average, research analysts predict that RadNet, Inc. will post 0.49 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts recently commented on RDNT shares. Zacks Research upgraded shares of RadNet from a “strong sell” rating to a “hold” rating in a report on Thursday, August 13th. Truist Financial boosted their price target on shares of RadNet from $90.00 to $94.00 and gave the stock a “buy” rating in a research report on Tuesday, August 11th. Barclays increased their price objective on shares of RadNet from $65.00 to $79.00 and gave the stock an “overweight” rating in a research note on Friday, August 28th. Weiss Ratings restated a “sell (d-)” rating on shares of RadNet in a research note on Friday, August 7th. Finally, Jefferies Financial Group restated a “buy” rating on shares of RadNet in a research note on Friday, July 31st. Two equities research 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 assigned a Sell rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $90.00.

Insider Buying and Selling at RadNet

In related news, CEO Cornelis Wesdorp sold 4,750 shares of the company’s stock in a transaction dated Tuesday, June 16th. The shares were sold at an average price of $58.11, for a total transaction of $276,022.50. Following the completion of the sale, the chief executive officer owned 69,075 shares of the company’s stock, valued at $4,013,948.25. This represents a 6.43% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director David L. Swartz sold 2,699 shares of the stock in a transaction dated Thursday, June 18th. The stock was sold at an average price of $53.89, for a total transaction of $145,449.11. Following the sale, the director owned 177,013 shares in the company, valued at $9,539,230.57. The trade was a 1.50% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 5.14% of the company’s stock.

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.