TD Asset Management Inc Grows Stock Holdings in RadNet, Inc. $RDNT

TD Asset Management Inc lifted its holdings in shares of RadNet, Inc. (NASDAQ:RDNT) by 24.5% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 52,648 shares of the medical research company’s stock after purchasing an additional 10,366 shares during the quarter. TD Asset Management Inc owned about 0.07% of RadNet worth $4,012,000 as of its most recent SEC filing.

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

RadNet Price Performance

RDNT stock opened at $72.58 on Wednesday. The firm has a market cap of $5.60 billion, a P/E ratio of -290.32 and a beta of 1.49. The company has a debt-to-equity ratio of 0.82, a quick ratio of 1.87 and a current ratio of 1.87. RadNet, Inc. has a 1 year low of $45.00 and a 1 year high of $85.84. The stock has a 50-day simple moving average of $71.67 and a 200-day simple moving average of $74.45.

RadNet (NASDAQ:RDNT) last released its quarterly earnings results on Monday, March 2nd. The medical research company reported $0.23 EPS for the quarter, topping the consensus estimate of $0.19 by $0.04. RadNet had a positive return on equity of 2.60% and a negative net margin of 0.91%.The firm had revenue of $547.71 million for the quarter, compared to analyst estimates of $515.67 million. During the same period in the previous year, the company posted $0.22 EPS. RadNet’s revenue for the quarter was up 14.8% on a year-over-year basis. On average, equities analysts predict that RadNet, Inc. will post 0.56 earnings per share for the current fiscal year.

Analysts Set New Price Targets

RDNT has been the subject of several research reports. Raymond James Financial reissued a “strong-buy” rating on shares of RadNet in a research note on Thursday, December 18th. Barclays boosted their price target on RadNet from $79.00 to $86.00 and gave the company an “overweight” rating in a research report on Thursday, November 13th. Jefferies Financial Group restated a “buy” rating and issued a $91.00 price objective on shares of RadNet in a report on Tuesday. Truist Financial set a $90.00 price objective on RadNet in a research note on Wednesday, December 17th. Finally, UBS Group set a $92.00 target price on shares of RadNet in a research report on Friday, January 9th. Two investment analysts have rated the stock with a Strong Buy rating, six have given a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, RadNet has an average rating of “Moderate Buy” and an average target price of $90.43.

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.