RadNet, Inc. (NASDAQ:RDNT) Shares Purchased by Raymond James & Associates

Raymond James & Associates lifted its position in RadNet, Inc. (NASDAQ:RDNT - Free Report) by 22.1% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 107,399 shares of the medical research company's stock after buying an additional 19,415 shares during the quarter. Raymond James & Associates owned approximately 0.15% of RadNet worth $7,452,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of RDNT. Nisa Investment Advisors LLC increased its stake in RadNet by 774.2% during the second quarter. Nisa Investment Advisors LLC now owns 848 shares of the medical research company's stock worth $50,000 after purchasing an additional 751 shares during the period. GAMMA Investing LLC increased its stake in RadNet by 74.7% during the 2nd quarter. GAMMA Investing LLC now owns 865 shares of the medical research company's stock worth $51,000 after buying an additional 370 shares during the period. Profund Advisors LLC acquired a new stake in RadNet during the 2nd quarter worth approximately $207,000. SG Americas Securities LLC boosted its position in RadNet by 8.7% in the 1st quarter. SG Americas Securities LLC now owns 3,637 shares of the medical research company's stock valued at $177,000 after buying an additional 291 shares during the period. Finally, Mackenzie Financial Corp acquired a new position in shares of RadNet in the second quarter worth $218,000. Institutional investors and hedge funds own 77.90% of the company's stock.

RadNet Stock Down 2.6 %

Shares of RDNT traded down $1.72 during mid-day trading on Thursday, reaching $65.04. The company's stock had a trading volume of 473,849 shares, compared to its average volume of 543,954. The company has a debt-to-equity ratio of 0.92, a current ratio of 2.12 and a quick ratio of 2.12. RadNet, Inc. has a 12-month low of $26.14 and a 12-month high of $72.18. The stock has a market cap of $4.81 billion, a PE ratio of 464.57 and a beta of 1.74. The company's 50 day moving average is $66.83 and its 200 day moving average is $60.87.

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

Insider Buying and Selling

In other RadNet news, EVP Michael N. Murdock sold 15,000 shares of the company's stock in a transaction on 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 in the company, valued at $3,022,480.32. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 5.12% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

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

About RadNet

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.