Whittier Trust Co. Acquires 10,060 Shares of RadNet, Inc. (NASDAQ:RDNT)

Whittier Trust Co. increased its stake in shares of RadNet, Inc. (NASDAQ:RDNT - Free Report) by 5.4% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 197,921 shares of the medical research company's stock after purchasing an additional 10,060 shares during the quarter. Whittier Trust Co. owned about 0.27% of RadNet worth $13,732,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Nisa Investment Advisors LLC boosted its stake in RadNet by 774.2% in the second quarter. Nisa Investment Advisors LLC now owns 848 shares of the medical research company's stock valued at $50,000 after acquiring an additional 751 shares during the last quarter. GAMMA Investing LLC boosted its position in shares of RadNet by 74.7% during the second quarter. GAMMA Investing LLC now owns 865 shares of the medical research company's stock worth $51,000 after purchasing an additional 370 shares in the last quarter. SG Americas Securities LLC boosted its position in shares of RadNet by 8.7% during the first quarter. SG Americas Securities LLC now owns 3,637 shares of the medical research company's stock worth $177,000 after purchasing an additional 291 shares in the last quarter. MQS Management LLC bought a new position in shares of RadNet during the first quarter worth $207,000. Finally, Profund Advisors LLC bought a new position in shares of RadNet during the second quarter worth $207,000. 77.90% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on RDNT. Jefferies Financial Group lifted their price target on shares of RadNet from $75.00 to $80.00 and gave the stock a "buy" rating in a research report on Thursday, September 19th. Truist Financial lifted their price target on shares of RadNet from $70.00 to $80.00 and gave the stock a "buy" rating in a research report on Monday, September 23rd. Barclays raised shares of RadNet from an "equal weight" rating to an "overweight" rating and lifted their price target for the stock from $57.00 to $79.00 in a research report on Friday, September 6th. Finally, Sidoti raised shares of RadNet to a "strong-buy" rating in a research report on Friday, October 4th. One equities research analyst has rated the stock with a sell rating, four have issued a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $74.75.

RadNet Stock Down 1.7 %

Shares of NASDAQ:RDNT traded down $1.19 during midday trading on Monday, reaching $66.97. 333,252 shares of the company were exchanged, compared to its average volume of 551,824. RadNet, Inc. has a fifty-two week low of $25.11 and a fifty-two week high of $72.18. The company has a quick ratio of 2.12, a current ratio of 2.12 and a debt-to-equity ratio of 0.92. The stock has a fifty day simple moving average of $66.20 and a two-hundred day simple moving average of $59.93. The firm has a market cap of $4.95 billion, a PE ratio of 223.23 and a beta of 1.74.

RadNet (NASDAQ:RDNT - Get Free Report) last issued its quarterly earnings results on Wednesday, August 7th. The medical research company reported $0.16 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.17 by ($0.01). RadNet had a net margin of 0.58% and a return on equity of 4.30%. The business had revenue of $459.70 million during the quarter, compared to analyst estimates of $438.53 million. During the same quarter in the previous year, the firm posted $0.24 earnings per share. The firm's quarterly revenue was up 13.9% on a year-over-year basis. As a group, sell-side analysts forecast that RadNet, Inc. will post 0.6 earnings per share for the current year.

Insider Activity

In other news, EVP Michael N. Murdock sold 15,000 shares of RadNet stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $62.78, for a total value of $941,700.00. Following the completion of the transaction, the executive vice president now owns 48,144 shares of the company's stock, valued at $3,022,480.32. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 5.12% of the company's stock.

RadNet Profile

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.