RadNet, Inc. $RDNT Shares Bought by Neuberger Berman Group LLC

Neuberger Berman Group LLC lifted its position in shares of RadNet, Inc. (NASDAQ:RDNT) by 10.7% during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 286,594 shares of the medical research company’s stock after purchasing an additional 27,615 shares during the period. Neuberger Berman Group LLC owned about 0.38% of RadNet worth $16,310,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Beck Mack & Oliver LLC boosted its holdings in shares of RadNet by 6.9% in the first quarter. Beck Mack & Oliver LLC now owns 3,280,449 shares of the medical research company’s stock valued at $163,104,000 after acquiring an additional 211,570 shares during the period. Allspring Global Investments Holdings LLC increased its stake in RadNet by 6.6% in the second quarter. Allspring Global Investments Holdings LLC now owns 1,801,559 shares of the medical research company’s stock valued at $100,203,000 after purchasing an additional 112,284 shares during the period. T. Rowe Price Investment Management Inc. raised its holdings in shares of RadNet by 81.4% in the first quarter. T. Rowe Price Investment Management Inc. now owns 1,657,613 shares of the medical research company’s stock valued at $82,417,000 after buying an additional 743,922 shares during the last quarter. Geode Capital Management LLC boosted its stake in shares of RadNet by 2.3% during the second quarter. Geode Capital Management LLC now owns 1,640,188 shares of the medical research company’s stock worth $93,354,000 after buying an additional 37,403 shares during the period. Finally, American Century Companies Inc. grew its holdings in shares of RadNet by 4.0% during the second quarter. American Century Companies Inc. now owns 1,324,153 shares of the medical research company’s stock worth $75,358,000 after buying an additional 51,225 shares during the last quarter. Hedge funds and other institutional investors own 77.90% of the company’s stock.

Insider Activity

In other news, CAO Mital Patel sold 25,000 shares of RadNet stock in a transaction dated Monday, November 17th. The shares were sold at an average price of $76.06, for a total transaction of $1,901,500.00. Following the completion of the sale, the chief accounting officer directly owned 205,138 shares in the company, valued at $15,602,796.28. The trade was a 10.86% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Cornelis Wesdorp sold 500 shares of the company’s stock in a transaction that occurred on Thursday, September 11th. The shares were sold at an average price of $72.13, for a total transaction of $36,065.00. Following the transaction, the chief executive officer directly owned 53,495 shares in the company, valued at $3,858,594.35. The trade was a 0.93% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 96,000 shares of company stock valued at $7,287,864 in the last 90 days. Company insiders own 5.60% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have weighed in on RDNT. Zacks Research downgraded RadNet from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, November 12th. Morgan Stanley raised shares of RadNet to an “overweight” rating in a research note on Monday, August 11th. Weiss Ratings reiterated a “sell (d-)” rating on shares of RadNet in a research note on Tuesday. Raymond James Financial reiterated a “strong-buy” rating and set a $95.00 target price on shares of RadNet in a research report on Friday, November 14th. Finally, Truist Financial increased their price target on shares of RadNet from $81.00 to $90.00 and gave the company a “buy” rating in a report on Wednesday, November 12th. Two equities research analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $84.00.

RadNet Price Performance

RDNT stock opened at $82.85 on Friday. RadNet, Inc. has a 1 year low of $45.00 and a 1 year high of $85.84. The company has a debt-to-equity ratio of 0.91, a quick ratio of 2.00 and a current ratio of 2.00. The stock’s 50 day moving average price is $78.05 and its 200 day moving average price is $67.17. The firm has a market cap of $6.39 billion, a P/E ratio of -414.23 and a beta of 1.58.

RadNet (NASDAQ:RDNT) last released its quarterly earnings results on Monday, November 10th. The medical research company reported $0.20 earnings per share for the quarter, missing the consensus estimate of $0.23 by ($0.03). RadNet had a positive return on equity of 2.41% and a negative net margin of 0.78%.The company had revenue of $522.87 million for the quarter, compared to analysts’ expectations of $494.19 million. During the same period in the previous year, the business posted $0.18 EPS. The business’s quarterly revenue was up 13.4% on a year-over-year basis. RadNet has set its FY 2025 guidance at EPS. On average, sell-side analysts expect that RadNet, Inc. will post 0.56 earnings per share 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.