Dimensional Fund Advisors LP Purchases 19,188 Shares of RadNet, Inc. $RDNT

Dimensional Fund Advisors LP grew its position in RadNet, Inc. (NASDAQ:RDNT) by 1.4% in the 1st quarter, Holdings Channel.com reports. The institutional investor owned 1,379,003 shares of the medical research company’s stock after acquiring an additional 19,188 shares during the period. Dimensional Fund Advisors LP’s holdings in RadNet were worth $77,074,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in RDNT. Geneos Wealth Management Inc. acquired a new position in RadNet in the fourth quarter valued at about $25,000. Allworth Financial LP raised its position in shares of RadNet by 346.6% during the third quarter. Allworth Financial LP now owns 393 shares of the medical research company’s stock worth $30,000 after purchasing an additional 305 shares during the period. Danske Bank A S acquired a new stake in shares of RadNet during the third quarter worth about $30,000. Eurizon Capital SGR S.p.A. bought a new position in shares of RadNet during the 4th quarter valued at about $36,000. Finally, Harbour Investments Inc. bought a new position in shares of RadNet during the 4th quarter valued at about $42,000. Institutional investors own 77.90% of the company’s stock.

Insiders Place Their Bets

In other RadNet news, Director David L. Swartz sold 2,699 shares of the stock in a transaction on Thursday, June 18th. The stock was sold at an average price of $53.89, for a total transaction of $145,449.11. Following the transaction, the director owned 177,013 shares in the company, valued at $9,539,230.57. This trade represents a 1.50% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Cornelis Wesdorp sold 4,750 shares of RadNet stock in a transaction on Tuesday, June 16th. The stock was sold at an average price of $58.11, for a total value of $276,022.50. Following the sale, the chief executive officer directly owned 69,075 shares of the company’s stock, valued at $4,013,948.25. This represents a 6.43% decrease in their position. The SEC filing for this sale provides additional information. Corporate insiders own 5.60% of the company’s stock.

RadNet Trading Down 1.1%

RadNet stock opened at $62.69 on Friday. The company has a market cap of $4.93 billion, a price-to-earnings ratio of -348.26 and a beta of 1.37. The firm has a 50-day moving average of $59.35 and a 200-day moving average of $61.88. The company has a debt-to-equity ratio of 0.79, a current ratio of 1.17 and a quick ratio of 1.17. RadNet, Inc. has a one year low of $50.76 and a one year high of $85.84.

RadNet (NASDAQ:RDNT) last announced its earnings results on Monday, May 11th. The medical research company reported ($0.28) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.14) by ($0.14). The firm had revenue of $575.63 million for the quarter, compared to the consensus estimate of $557.93 million. RadNet had a positive return on equity of 2.77% and a negative net margin of 0.66%.RadNet’s revenue for the quarter was up 22.1% on a year-over-year basis. During the same quarter last year, the business posted ($0.50) EPS. On average, equities analysts expect that RadNet, Inc. will post 0.54 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several analysts have commented on RDNT shares. Barclays dropped their target price on shares of RadNet from $70.00 to $65.00 and set an “overweight” rating on the stock in a report on Wednesday, May 20th. Zacks Research cut shares of RadNet from a “hold” rating to a “strong sell” rating in a report on Monday, July 13th. Finally, Weiss Ratings cut shares of RadNet from a “sell (d)” rating to a “sell (d-)” rating in a research report on Tuesday, May 12th. Two equities research analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat, RadNet presently has an average rating of “Moderate Buy” and an average target price of $87.43.

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.