Oak Ridge Investments LLC Sells 1,388 Shares of RadNet, Inc. $RDNT

Oak Ridge Investments LLC lowered its position in shares of RadNet, Inc. (NASDAQ:RDNT) by 3.9% during the second quarter, HoldingsChannel.com reports. The fund owned 34,076 shares of the medical research company’s stock after selling 1,388 shares during the quarter. Oak Ridge Investments LLC’s holdings in RadNet were worth $1,939,000 at the end of the most recent quarter.

A number of other institutional investors have also bought and sold shares of the company. Moran Wealth Management LLC boosted its position in RadNet by 2.2% during the first quarter. Moran Wealth Management LLC now owns 10,643 shares of the medical research company’s stock valued at $529,000 after acquiring an additional 225 shares during the last quarter. Xponance Inc. boosted its position in RadNet by 5.0% during the first quarter. Xponance Inc. now owns 5,010 shares of the medical research company’s stock valued at $249,000 after acquiring an additional 239 shares during the last quarter. GAMMA Investing LLC boosted its position in 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 acquiring an additional 300 shares during the last quarter. AQR Capital Management LLC boosted its position in RadNet by 5.4% during the first 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. Finally, Maryland State Retirement & Pension System boosted its position in RadNet by 2.2% during the second quarter. Maryland State Retirement & Pension System now owns 19,404 shares of the medical research company’s stock valued at $1,104,000 after acquiring an additional 423 shares during the last quarter. Institutional investors own 77.90% of the company’s stock.

Insider Buying and Selling

In other RadNet news, EVP Mark Stolper sold 35,000 shares of the company’s stock in a transaction dated Tuesday, September 16th. The shares were sold at an average price of $73.89, for a total value of $2,586,150.00. Following the completion of the sale, the executive vice president directly owned 68,012 shares of the company’s stock, valued at approximately $5,025,406.68. This represents a 33.98% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Cornelis Wesdorp sold 500 shares of the company’s stock in a transaction dated Thursday, September 11th. The stock was sold at an average price of $72.13, for a total transaction of $36,065.00. Following the completion of the sale, the chief executive officer directly owned 53,495 shares of the company’s stock, valued at $3,858,594.35. The trade was a 0.93% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 135,098 shares of company stock worth $9,430,715 over the last ninety days. Insiders own 5.60% of the company’s stock.

RadNet Trading Down 3.1%

RDNT opened at $70.60 on Friday. The company has a debt-to-equity ratio of 0.91, a current ratio of 2.00 and a quick ratio of 2.00. RadNet, Inc. has a fifty-two week low of $45.00 and a fifty-two week high of $93.65. The firm has a market capitalization of $5.43 billion, a PE ratio of -352.98 and a beta of 1.59. The company’s 50-day moving average is $70.71 and its 200 day moving average is $60.51.

RadNet (NASDAQ:RDNT) last posted its earnings results on Sunday, August 10th. The medical research company reported $0.31 earnings per share 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 company had revenue of $498.23 million for the quarter, compared to analyst estimates of $488.06 million. During the same quarter in the prior year, the business posted $0.16 EPS. The firm’s revenue was up 8.4% compared to the same quarter last year. As a group, research analysts predict that RadNet, Inc. will post 0.56 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

RDNT has been the topic of a number of research analyst reports. Weiss Ratings reaffirmed a “sell (d)” rating on shares of RadNet in a research report on Wednesday. Truist Financial upped their price objective on shares of RadNet from $74.00 to $81.00 and gave the company a “buy” rating in a report on Wednesday, September 3rd. Zacks Research upgraded shares of RadNet from a “strong sell” rating to a “hold” rating in a report on Monday, August 18th. Morgan Stanley upgraded shares of RadNet to an “overweight” rating in a report on Monday, August 11th. Finally, Barclays upped their price objective on shares of RadNet from $60.00 to $79.00 and gave the company an “overweight” rating in a report on Wednesday, September 3rd. 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 given a Sell rating to the company’s stock. Based on data from MarketBeat, RadNet currently has a consensus rating of “Moderate Buy” and a consensus target price of $76.80.

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.