Bessemer Group Inc. Grows Holdings in RadNet, Inc. $RDNT

Bessemer Group Inc. increased its holdings in shares of RadNet, Inc. (NASDAQ:RDNT) by 11.4% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 493,999 shares of the medical research company’s stock after buying an additional 50,690 shares during the period. Bessemer Group Inc. owned about 0.64% of RadNet worth $35,248,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in the business. Oregon Public Employees Retirement Fund increased its stake in RadNet by 1.8% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 15,853 shares of the medical research company’s stock worth $1,131,000 after buying an additional 274 shares during the period. First Eagle Investment Management LLC increased its stake in RadNet by 4.0% during the 4th quarter. First Eagle Investment Management LLC now owns 93,136 shares of the medical research company’s stock worth $6,645,000 after buying an additional 3,600 shares during the period. Crossmark Global Holdings Inc. increased its stake in RadNet by 3.3% during the 4th quarter. Crossmark Global Holdings Inc. now owns 5,048 shares of the medical research company’s stock worth $360,000 after buying an additional 163 shares during the period. Sequoia Financial Advisors LLC increased its stake in RadNet by 0.6% during the 4th quarter. Sequoia Financial Advisors LLC now owns 113,674 shares of the medical research company’s stock worth $8,111,000 after buying an additional 709 shares during the period. Finally, Sumitomo Mitsui DS Asset Management Company Ltd increased its stake in RadNet by 19.2% during the 4th quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 7,493 shares of the medical research company’s stock worth $535,000 after buying an additional 1,207 shares during the period. 77.90% of the stock is owned by hedge funds and other institutional investors.

RadNet Trading Down 1.9%

NASDAQ RDNT opened at $52.39 on Friday. The company has a quick ratio of 1.76, a current ratio of 1.17 and a debt-to-equity ratio of 0.79. RadNet, Inc. has a 52 week low of $50.76 and a 52 week high of $85.84. The stock has a market capitalization of $4.12 billion, a PE ratio of -291.04 and a beta of 1.43. The firm has a 50 day moving average of $58.22 and a two-hundred day moving average of $68.79.

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

Insider Buying and Selling

In other RadNet news, insider Alma Gregory Sorensen sold 15,000 shares of the business’s stock in a transaction that occurred on Wednesday, March 18th. The shares were sold at an average price of $62.15, for a total transaction of $932,250.00. Following the completion of the transaction, the insider owned 1,208,923 shares in the company, valued at $75,134,564.45. The trade was a 1.23% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 5.60% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on RDNT shares. Weiss Ratings downgraded shares of RadNet from a “sell (d)” rating to a “sell (d-)” rating in a research note on Tuesday. Jefferies Financial Group reaffirmed a “buy” rating and set a $91.00 target price on shares of RadNet in a research note on Tuesday, March 3rd. Finally, Barclays cut their target price on shares of RadNet from $86.00 to $70.00 and set an “overweight” rating on the stock in a research note on Tuesday, April 21st. Two analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, RadNet has a consensus rating of “Moderate Buy” and a consensus price target of $88.14.

RadNet Company Profile

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.