SG Americas Securities LLC Acquires 17,711 Shares of RadNet, Inc. $RDNT

SG Americas Securities LLC grew its holdings in RadNet, Inc. (NASDAQ:RDNT) by 195.6% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 26,766 shares of the medical research company’s stock after purchasing an additional 17,711 shares during the period. SG Americas Securities LLC’s holdings in RadNet were worth $2,040,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. AQR Capital Management LLC boosted its holdings in RadNet by 5.4% in the 1st quarter. AQR Capital Management LLC now owns 6,846 shares of the medical research company’s stock worth $340,000 after buying an additional 350 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in shares of RadNet by 4.5% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 39,341 shares of the medical research company’s stock worth $1,956,000 after acquiring an additional 1,699 shares in the last quarter. Jones Financial Companies Lllp boosted its holdings in shares of RadNet by 563.4% in the first quarter. Jones Financial Companies Lllp now owns 1,705 shares of the medical research company’s stock worth $85,000 after acquiring an additional 1,448 shares during the period. United Services Automobile Association purchased a new position in shares of RadNet in the first quarter valued at $216,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in shares of RadNet by 2.0% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 440,543 shares of the medical research company’s stock valued at $21,904,000 after purchasing an additional 8,762 shares in the last quarter. 77.90% of the stock is currently owned by hedge funds and other institutional investors.

RadNet Stock Down 1.7%

RDNT stock opened at $72.90 on Thursday. The company’s 50 day moving average is $76.61 and its 200 day moving average is $71.25. The stock has a market cap of $5.62 billion, a price-to-earnings ratio of -428.80 and a beta of 1.51. The company has a current ratio of 1.87, a quick ratio of 1.87 and a debt-to-equity ratio of 0.82. RadNet, Inc. has a 1-year low of $45.00 and a 1-year high of $85.84.

RadNet (NASDAQ:RDNT) last announced its earnings results on Monday, November 10th. The medical research company reported $0.20 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.23 by ($0.03). The company had revenue of $522.87 million for the quarter, compared to the consensus estimate of $494.19 million. RadNet had a negative net margin of 0.65% and a positive return on equity of 2.52%. The company’s revenue for the quarter was up 13.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.18 earnings per share. Sell-side analysts predict that RadNet, Inc. will post 0.56 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages have commented on RDNT. Raymond James Financial restated a “strong-buy” rating on shares of RadNet in a research note on Thursday, December 18th. Truist Financial set a $90.00 price objective on shares of RadNet in a research report on Wednesday, December 17th. UBS Group set a $92.00 price objective on shares of RadNet in a research report on Friday, January 9th. KeyCorp raised shares of RadNet to a “strong-buy” rating in a report on Friday, January 9th. Finally, B. Riley increased their target price on shares of RadNet from $71.00 to $87.00 and gave the stock a “buy” rating in a research note on Monday, December 1st. Two equities research analysts have rated the stock with a Strong Buy rating, five 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.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $90.33.

Insider Transactions at RadNet

In related news, CAO Mital Patel sold 25,000 shares of the stock in a transaction on Monday, November 17th. The stock was sold at an average price of $76.06, for a total value of $1,901,500.00. Following the transaction, the chief accounting officer owned 205,138 shares of the company’s stock, valued at $15,602,796.28. This represents a 10.86% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders have sold 50,000 shares of company stock valued at $3,902,254 in the last ninety days. 5.60% of the stock is currently owned by insiders.

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.