Public Sector Pension Investment Board Purchases 44,361 Shares of RadNet, Inc. (NASDAQ:RDNT)

Public Sector Pension Investment Board grew its position in shares of RadNet, Inc. (NASDAQ:RDNT) by 27.3% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 206,633 shares of the medical research company’s stock after buying an additional 44,361 shares during the quarter. Public Sector Pension Investment Board owned approximately 0.28% of RadNet worth $10,274,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in RDNT. Headlands Technologies LLC bought a new stake in shares of RadNet during the first quarter valued at approximately $28,000. GAMMA Investing LLC grew its stake in shares of RadNet by 22.3% during the first quarter. GAMMA Investing LLC now owns 1,644 shares of the medical research company’s stock valued at $82,000 after purchasing an additional 300 shares during the last quarter. Tower Research Capital LLC TRC grew its stake in shares of RadNet by 42.2% during the fourth quarter. Tower Research Capital LLC TRC now owns 1,422 shares of the medical research company’s stock valued at $99,000 after purchasing an additional 422 shares during the last quarter. Canada Pension Plan Investment Board bought a new stake in shares of RadNet during the fourth quarter valued at approximately $105,000. Finally, US Bancorp DE grew its stake in shares of RadNet by 4,620.8% during the first quarter. US Bancorp DE now owns 3,635 shares of the medical research company’s stock valued at $181,000 after purchasing an additional 3,558 shares during the last quarter. 77.90% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts have recently commented on RDNT shares. B. Riley began coverage on shares of RadNet in a research note on Friday, June 13th. They set a “buy” rating and a $69.00 price target on the stock. Wall Street Zen lowered shares of RadNet from a “hold” rating to a “sell” rating in a report on Sunday, June 29th. Raymond James Financial reiterated a “strong-buy” rating and issued a $75.00 target price (up from $66.00) on shares of RadNet in a report on Wednesday. Morgan Stanley upgraded shares of RadNet to an “overweight” rating in a report on Monday. Finally, Truist Financial set a $74.00 target price on shares of RadNet in a report on Thursday, July 10th. One equities research analyst has rated the stock with a sell rating, four have assigned a buy rating and three have issued a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus price target of $71.60.

Insider Activity at RadNet

In related news, EVP Alma Gregory Sorensen sold 55,000 shares of the firm’s stock in a transaction on Friday, May 23rd. The shares were sold at an average price of $56.48, for a total transaction of $3,106,400.00. Following the sale, the executive vice president directly owned 1,160,509 shares in the company, valued at $65,545,548.32. This trade represents a 4.52% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 5.60% of the stock is currently owned by insiders.

RadNet Trading Up 7.5%

Shares of NASDAQ:RDNT opened at $68.40 on Thursday. RadNet, Inc. has a 12 month low of $45.00 and a 12 month high of $93.65. The company has a quick ratio of 2.01, a current ratio of 2.00 and a debt-to-equity ratio of 0.91. The company’s fifty day simple moving average is $56.98 and its 200 day simple moving average is $55.91. The firm has a market cap of $5.26 billion, a price-to-earnings ratio of -341.96 and a beta of 1.43.

RadNet (NASDAQ:RDNT) last issued its quarterly earnings data on Sunday, August 10th. The medical research company reported $0.31 EPS for the quarter, topping analysts’ consensus estimates of $0.17 by $0.14. RadNet had a negative net margin of 0.78% and a positive return on equity of 2.41%. The business had revenue of $498.23 million for the quarter, compared to analyst estimates of $488.06 million. During the same period last year, the business posted $0.16 earnings per share. The firm’s quarterly revenue was up 8.4% on a year-over-year basis. As a group, research analysts forecast that RadNet, Inc. will post 0.56 EPS for the current fiscal year.

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.