RadNet, Inc. (NASDAQ:RDNT) is Emerald Advisers LLC's 8th Largest Position

Emerald Advisers LLC lifted its holdings in RadNet, Inc. (NASDAQ:RDNT - Free Report) by 3.3% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 669,250 shares of the medical research company's stock after purchasing an additional 21,318 shares during the quarter. RadNet comprises about 1.8% of Emerald Advisers LLC's portfolio, making the stock its 8th biggest position. Emerald Advisers LLC owned approximately 0.91% of RadNet worth $46,439,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in RDNT. Nisa Investment Advisors LLC boosted its position in shares of RadNet by 774.2% in the 2nd 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 in the last quarter. GAMMA Investing LLC boosted its position in shares of RadNet by 74.7% in the 2nd 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. Highline Wealth Partners LLC acquired a new stake in shares of RadNet in the 3rd quarter worth $68,000. SG Americas Securities LLC boosted its position in shares of RadNet by 8.7% in the 1st 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. Finally, MQS Management LLC acquired a new stake in shares of RadNet in the 1st quarter worth $207,000. Institutional investors and hedge funds own 77.90% of the company's stock.

RadNet Stock Performance

Shares of RDNT stock traded up $1.50 on Friday, hitting $66.54. The company had a trading volume of 377,405 shares, compared to its average volume of 426,510. The firm has a market cap of $4.92 billion, a P/E ratio of 475.29 and a beta of 1.75. The company has a 50-day moving average price of $66.88 and a 200-day moving average price of $61.22. The company has a quick ratio of 2.12, a current ratio of 2.12 and a debt-to-equity ratio of 0.92. RadNet, Inc. has a twelve month low of $26.68 and a twelve month high of $72.18.

RadNet (NASDAQ:RDNT - Get Free Report) last issued its quarterly earnings data 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). The company had revenue of $459.70 million during the quarter, compared to analyst estimates of $438.53 million. RadNet had a net margin of 0.58% and a return on equity of 4.30%. The business's quarterly revenue was up 13.9% compared to the same quarter last year. During the same period last year, the firm earned $0.24 EPS. As a group, equities research analysts predict that RadNet, Inc. will post 0.59 earnings per share for the current fiscal year.

Insider Activity

In other news, EVP Michael N. Murdock sold 15,000 shares of the business's stock in a transaction dated Wednesday, August 21st. The stock was 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. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 5.12% of the company's stock.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the company. Barclays raised RadNet from an "equal weight" rating to an "overweight" rating and raised their price objective for the stock from $57.00 to $79.00 in a research report on Friday, September 6th. Truist Financial lifted their price target on RadNet from $70.00 to $80.00 and gave the stock a "buy" rating in a research report on Monday, September 23rd. Sidoti raised RadNet to a "strong-buy" rating in a research report on Friday, October 4th. Finally, Jefferies Financial Group lifted their price target on RadNet from $75.00 to $80.00 and gave the stock a "buy" rating in a research report on Thursday, September 19th. One 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, the company presently has an average rating of "Moderate Buy" and a consensus price target of $74.75.

RadNet Company 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.